Kraken CEO Wants Bitcoin to Crash to $20,000

Reading time: < 1 minute

Jesse Powell, CEO of crypto exchange Kraken, would like BTC to fall to $20,000, an opportunity he would take to direct the lion’s share of his capital to buying Bitcoins.

Powell has posted a post on Twitter in which he has recalled that in July last year, he invested half of his portfolio in BTC. Then it was trading in the region of $30,000.

The head of the exchange is ready to allocate most of his savings and send them to BTC in the event that its value updates the lows. Powell is targeting a price of $20,000 for the cryptocurrency. He has also urged hesitant Bitcoin holders to dump their coins so that hodlers can increase their reserves.