Kraken CEO Jesse Powell warns that cryptocurrencies may become subject to restrictions imposed by the US government. In an interview with CNBC stated that the new regulations could harm blockchain currencies.
Kraken CEO warns: governments could hit cryptocurrencies
– Something like that [tj. szkodliwe regulacje] could really harm cryptocurrencies and in some ways kill the original use case which was simply to make financial services available to everyone – He said.
Kraken’s CEO notes that in other countries, politicians and officials have a better understanding of the importance of cryptocurrencies.
– I hope US and international regulators will not take too narrow a view of this matter. Some other countries – especially China – take cryptocurrencies very seriously and look at it very long term He explained.
However, Powell also assumes that trying to limit the operation of the cryptocurrency markets could backfire and lead to an economic revolution.
– I also think it may be too late [dla rządów]. Maybe the genie is out of the bottle and simply trying to ban it at this point would make it more attractive. It would certainly be news that the government sees this as a better alternative to its own currency – added.
Future BTC price
Despite Powell’s concerns over potential government regulation of cryptocurrencies, he recently speculated that Bitcoin could reach over $ 200,000 by the end of 2021, and is expected to rise to over $ 1 million in 2022.
– Probably by the end of the year, I think one Bitcoin will be worth as much as a Lamborghini and probably by the end of next year it will be one Bitcoin for the Bugatti – he said, suggesting that the price of the cryptocurrency would be better quoted in luxury cars, not in dollars.
The entry-level Lamborghini model costs around $ 200,000, and the cheapest Bugatti model from 2021 is around $ 1.9 million.
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