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

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

11.05.2022 - 10:05


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.

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.


Michael Golikov Michael Golikov

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy