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In an interview on Bloomberg TV, Chief Executive Officer of crypto exchange Kraken Jesse Powell said to be optimistic that Bitcoin’s value would continue to rise and measured in terms of dollars the price “is going to infinity and that’s kind of hard to comprehend”.
In the appearance, the CEO discussed the difficulty of measuring assets prices in US Dollar and therefore made his Bitcoin’s price prediction by referring to luxury cars.
“Probably by the end of the year, I think it will be one Bitcoin per Lamborghini and probably by the end of next year, it will be one Bitcoin per Bugatti,” Powell said.
He then added:
“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 U.S. dollars out there a year from now, so it’s really hard to measure Bitcoin against the dollar.”
While you can already own a Lamborghini at $200,000, which is also a popular ‘meme’, a Bugatti will cost you at least $1.7 million for their Veyron model and the most expensive model has a price tag of $18.7 million. At current prices, one Bitcoin will buy you a Tesla Model 3.
Powell also said that Ethereum (ETH) will rise amid a booming market for non-fungible tokens (NFTs).
He further made a cause for Ethereum competitor Polkadot (DOT) and to anticipate a surge of the token. Powell considers a possibility that projects currently running on Ethereum could move to the less congested alternative PolkadotL
“The other hot coin really is Polkadot, which is sort of the next Ethereum…
There are a lot of coins that are being launched on top of this network and I think you’ll see a lot of things that were on Ethereum be ported over to Polkadot for lower transaction fees.”