If you believe in the power of Bitcoin, now might be the right time to hoard it up. At least that’s what Kraken CEO Jesse Powell seems to indicate. The entrepreneur has claimed that the dollar-based long-term price predictions for the cryptocurrency are flawed and proposes them to be measured in luxury car prices.
When asked about Bitcoin’s price prediction by the end of the year (in a recent interview with Bloomberg), Powell stated its value might increase from its current ‘price’ or one BTC per Tesla Model 3 to “one bitcoin per Lambo” by the end of the year and to “one bitcoin per Bugatti” by 2023.
He said, “I think I said bitcoin is going to infinity, and that’s kind of hard to comprehend, because I measure it in terms of dollars,” while further adding, “To the crypto community, I think those kinds of assets are easier to measure bitcoin against because you never know where the dollar is going to be. There could be 10 times as many US dollars out there a year from now, so it’s tough to measure bitcoin against the dollar.”
Powell also claimed that the price of Ethereum would exceed $2000 and that the NFT activity is really driving up its use and constraining its supply. As for the world’s leading cryptocurrency – Bitcoin is currently valued at $60,000 per coin (approx.) after dropping last week and is only expected to rise further if Kraken’s leading man is to be believed.
So, would you fancy testing your luck with the crypto?