Kraken CEO called the condition for investing all his funds in bitcoin

According to Jesse Powell, this will happen if the price of the asset drops to $20 000

11.05.2022 - 10:05

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1 min

What’s new? The CEO of the Kraken cryptocurrency exchange Jesse Powell said that he is ready to spend all his funds to buy bitcoin if the asset is worth $20 000.

I spent half my available capital to buy #BTC at $30k in July. Still holding, ofc. I told myself I’d have to see $20k to go all-in. Godspeed, paperhands. Godspeed. pic.twitter.com/LtEYTHQb9e— Jesse Powell (@jespow) May 9, 2022

What other statements have been made? According to Powell, in July 2021, he spent half of his capital to buy bitcoin at $30 000. Now he is ready to go all-in and hopes the price will drop to $20 000. The Kraken CEO has also called for “paperhands” (crypto investors who cannot withstand market volatility and get rid of their assets due to falling prices) to sell their coins.

What events happened before? In early March, Jesse Powell reported that Kraken would not block customers from Russia without appropriate legal requirements amid economic sanctions.

What is known about Kraken? It is a cryptocurrency exchange registered in the United States in 2011. The founder and head of the company is Jesse Powell. More than 120 digital and 7 fiat currencies are available for trading on the platform. Kraken has more than 8 million traders worldwide as customers.

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