U.S. cryptocurrency CEO Kraken has said he thinks Bitcoin is on the verge of a new long-term rally at $ 100,000.

In a new conference call hosted by Pantera, Jesse Powell said that the masses do not yet understand the importance of the scarcity of Bitcoin and its independence from banks and intermediaries. He expects this to change in the coming decade, if and when the value of the dollar decreases.

"I don't think Bitcoin is even integrated with Bitcoin . Most people have heard of Bitcoin but they don't own any Bitcoin . They don't know what the future of Bitcoin is . I think if everyone knew about Bitcoin and the potential of Bitcoin and how great it was, the price would be a trillion dollars per Bitcoin . We would all just switch to Bitcoin and use nothing else ...

I think there are many things that are priceless, even if they are predictable, like the future. Ten years later, the US dollar will continue to be printed like crazy. It's going to be totally worthless. No one will want it. Everyone is going to want Bitcoin . But this is not taken into account due to the perceived risks or the perceived uncertainty about the future, the regulations, how the government reacts in different situations as Bitcoin continues to develop, or how useful is it really? "

Kraken is already witnessing an explosion in institutional trade. According to Powell, BTC will likely reach $ 100,000 in about two years.

“I believe we are in an unprecedented period in terms of global political and economic systems. I believe that this will continue to lead to a fairly massive transition to digital currency. I think the next two years we will probably see 1 BTC over $ 100,000…

For the record, in the past two months, we have seen a huge increase in new accounts, institutions. I think, again, I mentioned earlier, something that keeps more institutions from entering is just the uncertainty around the regulatory situation.

I think many are waiting and seeing, many may be trying to change their mandate to allow them to invest in these asset classes. But I think it comes. I think more LPs will demand that their GPs invest in crypto. I think it will come from bottom to top. Returns are so hard to ignore. It seems irresponsible not to make crypto part of your wallet. "

Despite his optimism, Powell says that at the moment, money remains king, which is an important factor against Bitcoin in the current macroeconomic climate.

"In a moment like this, with so much uncertainty, I think people turn to what they know, which is money. I have to pay my rent in cash. I have to buy my food and toilet paper with money.

They are not looking to hold a volatile asset, but it is a good long-term investment. People are thinking very short term right now. I think it's one thing against Bitcoin . “