Tuesday, April 13, 2021

Kraken CEO says a bitcoin could be worth a Lamborghini before 2021 is over.

The Takeaway:

Kraken CEO Jesse Powell says the value of Bitcoin is rising so quickly that it might be easier to measure its price against supercars rather than the dollar.

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In an interview with Bloomberg, one of the oldest cryptocurrency exchanges, Kraken CEO, Jesse Powell, suggested Bitcoin (BTC) could be the same price as a Lamborghini before 2021 is over and worth more than a Bugatti in 2022. “It might be easier to understand if we measure it in terms of Teslas,” he said on the price of Bitcoin. 

 

“Probably by the end of the year, it will be one Bitcoin per Lambo.”

Kraken CEO said, “Probably by the end of the year, it will be one Bitcoin per Lambo, and probably by the end of next year it will be one Bitcoin per Bugatti.” “To the crypto community and to me those kinds of assets it makes it easier to measure that way because you never know where the dollar’s going to be – there could be ten times as many dollars out a year from now, so it’s really hard to measure Bitcoin against the dollar.” Talking about Ethereum, he suggested the price would exceed $2,000 but highlighted that Vitalik Buterin’s brainchild was under an enormous amount of stress.

 

Jesse Powell touts Polkadot as the next Ethereum.

“What I can say about Ethereum is there’s a process now to move your coins onto the new Ethereum blockchain – the proof of stake chain – which is Ethereum 2.0, and in the process of that, you actually burn your Ethereum 1.0, and that is basically locked up for an indefinite amount of time – it could be years,” Kraken CEO said during the interview. Asked what coins he would single out as potential big performers, Mr. Powell took no hesitation in turning the spotlight on Polkadot. “The other hot coin really is Polkadot which is sort of the next Ethereum, many people think,” Jesse Powell said.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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