Kraken’s co-founder and CEO Jesse Powell says their exchange may look for an inventory that is public the following year” but that there are “no guarantees.”

Showing up on Bloomberg television on, Powell was expected whether he would simply take his business public at a $10 billion valuation wednesday.

“We are certainly on the right track though $10 billion dollars is really a valuation that is low” stated Powell. “I wouldn’t want to consider issuing stocks at that cost.” Powell’s declaration comes as rival change Coinbase is being valued since high as $100 billion.
Kraken is in speaks to boost money that is brand new a move which could understand company’s valuation soar to above $10 billion, as CoinDesk formerly reported.

However, Powell added there was “no reason” to raise capital that is a new comer to accelerate business acquisitions.

Expected where bitcoin (BTC, +0.35%) was headed and how investors must be taking a look at its cost that is current CEO stated there is “no reason to offer bitcoin”

“I think lots of people are simply waiting to get the dip,” said Powell. “I think you need to be seeking to hold more than a five-year period. if you’re buying into bitcoin centered on speculation”

CoinDesk attempted to make contact with Powell for additional comment but did not be given a reaction by press time.