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Kraken CEO: You will buy a Lamborghini bitcoin by 2022 and a Bugatti by 2023


Jesse Powell, CEO of Kraken Exchange, believes that comparing the value of bitcoin to Lamborghini and Bugatti may be a better measure of the risk of a weakening dollar. According to him, with the dollar equivalent of one bitcoin, you can buy a Lamborghini by 2022 and a Bugatti by 2023.

to the Report In an interview with Bloomberg, Quinn Telegraph CEO Jesse Powell, while emphasizing the inflationary nature of Fiat currencies, explained why he believes that it is difficult to predict the price of Bitcoin in dollar terms in the long run.

In response to a question about the price of Bitcoin at the end of 2021, the CEO of Kraken said:

I think I have said that before [قیمت] Bitcoin will go up indefinitely, this is somewhat difficult to understand because I measured bitcoin in dollars.

Powell suggests alternative criteria for valuing bitcoin. He speculates that the value of bitcoin is likely to exceed its current price. According to him, if the value of bitcoins is currently equal to the value of a Tesla Model 3 car, at the end of the year the value of each bitcoin is equal to a Lamborghini and in 2023 (1403) the value of each bitcoin is equal to a Bugatti car. He adds:

I think it is much easier for the digital currency community to evaluate the value of bitcoin compared to these types of assets, because you never know where the value of the dollar will go. There may be up to 10 times the current US dollar by next year; So it is difficult to evaluate the value of bitcoin in dollars.

While the price of Bitcoin in 2019 (2009) as well as the first half of 2020 was equal to a second-hand Honda Civic 2010 (2010), but the price of each unit of this digital currency at the end of 2020 and when it reached a new historical peak. , Was equal to a new Honda Civic.

When asked about the Ethereum, Powell said, emphasizing the booming realm of unparalleled tokens:

All NFT-related activities can actually increase Ethereum utilization.

Powell also noted the uncertainty surrounding the completion date of the Ethereum 2.0 transfer project, saying that Ethereum’s shareholder deposits have already limited ether supply.

Regarding the Altcoins, Powell also noted the uproar surrounding the Polkadot, saying that because of its scalability and low commission, the Polkadot blockchain may be the “next Ethereum.”

Regarding lower transaction fees at Polkadot, he said:

Many coins have been launched on this network, and I think we will see that many of the items in Ethereum will be transferred to Polkadot.

Polkadot seeks to provide greater speed and efficiency than other digital currency networks by processing transactions using its Parachain structure, in which several smaller chains operate in parallel. Although Parachute has not yet been launched on the main Polkadot network, last week the Acala Network ecosystem became the first project to provide a parachute slot on the Rococo pilot network.

Although Sharding is also on the Ethereum 2.0 roadmap, Ethereum co-founder Vitalik Butrin revealed earlier this month that Ethereum developers are currently prioritizing the Ethereum-Ethereum 2.0 chain integration. Butrin also expressed confidence that layer two classification of transactions would increase network performance in the short term, while sharding was not a development priority. It should be noted that the launch of the main network of Optimism has been delayed until July.

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