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Kraken CEO on Bitcoin: “It’s Going to Infinity”

In an interview with Bloomberg, Kraken CEO and founder Jesse Powell gave a perplexing prediction of Bitcoin’s future value: “When you measure it in terms of dollars, you have to think it’s going to infinity.”
Powell was quick to justify his comment by painting a future where instead of comparing Bitcoin to fiat currencies in order to determine the value of an item, prices are considered solely in Bitcoin:
I think pretty soon people are gonna start measuring the price of things in term of Bitcoin. I think the true believers will tell you that it’s going all the way to the moon, to Mars, and eventually will be the world’s currency. So we won’t be measuring the price of Bitcoin in terms of dollars, but what else you’re going to be buying with it – probably planets or other solar systems.
Certainly optimistic by most standards, Powell painted a picture of a post-fiat world, where items are valued in Bitcoin rather than government-backed currencies. 
[Bitcoins could be worth] whatever the market cap of the dollar is, the euro, all of that combined.
When pressured to give a numeric answer to Bitcoin’s future price, Powell suggested that a price target of $1 million over the next 10 years would be “reasonable”. Powell suggested that Bitcoin’s increased in price is tied to the inflation of the US dollar, as people see Bitcoin as a “safe haven asset” in the face of unreliable returns on savings accounts. …
Story continues on Bitcoinist

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