Kraken CEO believes crypto companies will soon replace banks

by in Cryptocurrency News

Jesse Powell

The cryptocurrency industry could deal a devastating blow to the banking market. So says Jesse Powell, head of the Kraken exchange.

In his opinion, only those financial structures that will have time to enter the cryptosphere will be able to survive. The rest of the traditional players, and primarily banks, will leave the market if they continue to ignore digital assets.

Powell noted: "I think you'll see that the days are numbered for those companies that don't keep up with these cryptocurrencies."

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The Kraken CEO recalled that his exchange was created from scratch. The team has built an infrastructure that has grown in just a few years. Kraken is currently on the list of top cryptocurrency platforms.

Crypto companies are the future, and their expansion cannot be stopped. Therefore, traditional market participants need to look for ways to penetrate the blockchain industry right now. Otherwise, they will not be able to keep their business, Powell summed up.

Recently, the CEO of Kraken announced that over the next two years, we will see the price of bitcoin skyrocket to $ 100,000. Institutional adoption of BTC will be the main driver of the rise in the value of the cryptocurrency.