Dan Held, growth lead at crypto exchange Kraken, is outlining the catalysts that he believes could ignite a Bitcoin supercycle and catapult the leading cryptocurrency to $1 million.
In a new episode of the What Bitcoin Did podcast, Held explains why he believes the current bull market could grow exponentially larger than Bitcoin’s boom cycles in 2013 and 2017.
“When I look at these cycles though, what makes me very excited about this upcoming one, which could be… a supercycle, is that this time, is different. The 2013 bull run, the 2017 bull run, it was mainly based on retail-driven speculation. The macro markets, the rest of the world, was doing fine. It was a large bull run and these were mainly speculative cycles run by retail with a very shaky infrastructure…
With this bull run, we’ve got a lot of different things lined up.”
According to Held, Bitcoin’s primary use case as a store-of-value asset was put