Kraken’s business chief Dan Held has been involved in crypto since 2013. In his latest interview with Cointelegraph, he delves into the first cryptocurrency meetings in the San Francisco Mission District and explains how the price of a Bitcoin (BTC) could eventually reach a million dollars.
Watch the full interview for a memory lane journey and a roadmap for Bitcoin’s future. Held also explains why Bitcoin could become a “very boring” asset and why he thinks it’s time to stop experimenting with altcoins.
For more crypto content, head over to the YouTube Cointelegraph channel and hit the subscribe button.
Bitcoin will become “very boring”
Bitcoin is famous for its volatility, but Held believes that will not always be the case. He believes that Bitcoin is digital gold. With that thesis comes the expectation that there will be immense growth in the market capitalization of the asset.
“Bitcoin in its final stages, decades from now, will be very boring. As our grandchildren will say, ‘Grandpa, Grandma, I only hear about Bitcoin. Everyone has Bitcoin. ‘ It’s like, who cares? As if it was a boring investment. It’s like having cash. “
Held predicts that Bitcoin will be worth $ 5 trillion to $ 100 trillion in value in its “final stages.” This would result in a transformation from a highly volatile asset to a “very boring” currency.
“Blockchain technology sucks”
Held’s belief in Bitcoin is unshakable. He has seen his net worth rise and fall 80% three times. And yet 90% of your current net worth remains in Bitcoin. His unwillingness to diversify his portfolio stems from the firm belief that blockchain technology is only useful for Bitcoin.
Satoshi purposely created blockchain technology to build Bitcoin. Blockchain technology sucks. It’s terrible. Doing so much compensation to build Bitcoin that it’s basically ineffective for almost anything else. “
Under this line of thought, which he calls “Bitcoin minimalism” despite Vitalik Buterin, he sees no reason for altcoins to exist. For Held, altcoins are just experiments that have not yet shown blockchain to be useful for anything other than Bitcoin.
For more crypto interviews, market updates, and everything in between, head over to the Cointelegraph YouTube channel and hit the subscribe button.
