Bitcoin Is a ‘Super Commodity’ That Should Be Worth $1-10 Million, Says Kraken Executive Dan Held


In a new blog post published on Medium, Kraken’s director of business development, Dan Held, lays out a thesis for Bitcoin as a “super commodity”.

The crypto exchange exec debunks the notion that Bitcoin’s use of energy is “wasteful” and argues that the cryptocurrency’s energy intensive proof-of-work (PoW) mechanism, which relies on cheap electricity to power its network of transactions, is part of a global cycle that has linked everything to energy and the consumption of energy.

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