Kraken Co-Founder and CEO Jesse Powell bought Bitcoin with half his money in July of last year. He promises to “heavy-buy” if the Bitcoin price drops below $20,000.
Jesse Powell expects $20,000 in Bitcoin price
Despite the collapse of the cryptocurrency market and Bitcoin, Jesse Powell, CEO of Kraken, seems completely carefree. In July 2021, when the BTC price was around $30,000, he shared in a tweet that he had invested half of his current wealth in cryptocurrencies. It says it made any sales in the last drop. In addition, he promises to buy Bitcoin with all his money if its value drops below $20,000. Kraken CEO advised people who couldn’t hold on to their investments during times of increased volatility to sell them so they could get there faster. On May 10, he wrote on Twitter:
I spent half of my current capital buying BTC at $30,000 in July. I’m still holding. I told myself I needed to see $20,000 to invest all my money.
Kraken CEO as an opportunity to buy $40k gold
In late 2021, Kraken CEO said that people should invest in Bitcoin if it’s worth less than $40,000. However, it is worth noting that the price of BTC was around $50,000 at the time. He argued that in line with his advice to investors, the US dollar would become “zero”. Powell also touched upon Bitcoin once again shortly after the Russian invasion of Ukraine. Then Ukrainian Deputy Prime Minister Mykhailo Fedorov asked cryptocurrency exchanges to ban Russian-based users from their platforms.
Powell said he understood the “reason for this request,” but Kraken said. cannot block its services for a certain customer group without a legal obligation. He described Bitcoin as the “embodiment of libertarian values” and therefore should be allowed to be embraced by everyone. He also argued that many crypto holders in Russia are probably against the Putin regime and the war in Ukraine.
As we have mentioned in the analysis of Kriptokoin.com, the Bitcoin price has lost about 20% since last week, reaching $ 31,200.