Bitcoin (BTC) will be worth "infinity" and humanity will before long requite up pricing it in U.S. dollars, says the CEO of cryptocurrency commutation Kraken.

Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $fifty,000.

Powell: $1 million Bitcoin in ten years "reasonable"

"Of course, you know, we can merely speculate, but when we mensurate information technology in terms of dollars, you have to think it's going to infinity," he told Bloomberg Television well-nigh future price trajectory.

"This national currency'south merely l years one-time, it's already showing extreme signs of weakness, and pretty soon I think people are going to start measuring the price of things in Bitcoin."

Powell was commenting every bit the USD weakened alongside a macro market sell-off on Wednesday, an outcome which had next to no bear on on Bitcoin. At the same time, the U.S. national debt quietly passed $28 trillion for the first time in history.

Despite a rejection of $50,000 support, Bitcoin bulls thus remained more than optimistic.

"The people that are believers in Bitcoin run into... it'due south going to replace all of the world's currency, and so that basically means whatever the market cap of the dollar is, the euro — all of that combined is what Bitcoin could be worth," Powell continued.

"I remember in the near term, people run across it surpassing gilt as a store of value, and then I think $1 million as a toll target within the side by side x years is pretty reasonable."

As Cointelegraph noted, Bitcoin closed February 26% in a higher place its target dictated by the stock-to-flow-based price models, with creator PlanB however confident that $100,000 will hit at some time this year.

Bitcoin stock-to-flow chart as of Mar. iii, 2021. Source: Digitalik

No time for gold

Meanwhile, the gold ecplise statement has been steadily gaining support on social media in detail, often at the expense of gold bugs, who are left with increasingly footling ammunition to defend their anti-Bitcoin stance.

As Cointelegraph reported, it was billionaire and quondam Bitcoin skeptic Marker Cuban who this week took SchiffGold.com CEO Peter Schiff to task over his love of the precious metallic. Gold, he told Schiff, "is expressionless."

"Bitcoin has been burdensome gold since inception," Kraken growth lead Dan Held added in response to claims by Schiff that a bet against aureate was a losing one.