Jesse Powell, CEO of crypto exchange Kraken, says that Bitcoin (BTC) won’t be unseated anytime soon.
In a new interview with Yahoo Finance, Powell says that while BTC will remain the go-to crypto from a store-of-value perspective, Ethereum (ETH) may have some competition in the smart contract realm.
“I think Bitcoin is still the best at storing value. I think it’s still the best at security. I don’t see Bitcoin being disrupted in the near term.
I think the game for smart contracts is totally up for grabs. I think Ethereum is a dominant player now, but you see Polkadot [DOT] and Solana [SOL] and some other chains coming up that maybe could steal a lot of that thunder from Ethereum with regards to smart contracts.”
The CEO also says that despite the competition between chains, he still foresees a scenario where many cryptos end up coexisting and catering to their own use cases.
“I think we’ll continue to see an evolution of these chains. I think it’s anybody’s game right now. I think we ultimately end up in a world where there are lots of successful chains that are operating simultaneously.”
Powell previously predicted that that one BTC would eventually be worth one Lamborghini, and then later one Bugatti. For perspective, a new Bugatti costs somewhere between $1.7 million and $3 million.
Bitcoin is currently changing hands at $68,638 at time of writing, while ETH is trading for $4,850.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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