Bitcoin And Crypto Interest Is Surging Amidst The Global Crisis, Says Kraken CEO

Despite the whole global crisis and the shaking of the traditional financial system, it seems that cryptos and Bitcoin are seeing increased interest.

In a world in which traditional economic systems are being shaken to the core, people are desperately looking for reliable, safe havens and it seems that Bitcoin and the crypto industry is gaining popularity and cryptos are more and more seen as a flight to safety.

Bitcoin and the crypto industry to perform well in 2020

It’s been revealed that Kraken CEO Jesse Powell is predicting that Bitcoin and the crypto industry as a whole will be performing well in the months to come.

In a new interview with Forbes, he revealed that while a lot of companies are firing employees amidst the global crisis in which we are today due to the coronavirus pandemic, Kraken is increasing its staff by about 10%.

This is reportedly due to an uptick in interest in the crypto market since the coronavirus appeared.

“We saw once the news really started to break that we were getting a lot of new signups,” he said.

Bitcoin is relatively stable

Kraken CEO continued and said, “It’s kind of been a bit of a ramp-up just over the last few weeks. Every day [we’re seeing] more sign-ups, more verification requests, more people funding their accounts, and that to us is a signal that things are heating up, that we need to start adding more staff.”

Powell said that Bitcoin has remained relatively stable during these tough times, following the first shocking fall in price by about 60%.

“If you’ve been living in Bitcoin for any amount of time, you’re used to this level of volatility. You just live your life on the roller coaster, and what’s happening in Bitcoin now is not that extreme for Bitcoin,” Powell said as quoted by the Daily Hodl.

At the moment of writing this article, Bitcoin is trading in the green, and the most important digital asset out there is priced at $6,609.04.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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