Cointelegraph.comlambosharding

One BTC will be worth a Lambo by 2022, and a Bugatti by 2023: Kraken CEO

Amid the threat of dollar debasement, Kraken’s Jesse Powell believes Lamborghinis and Bugattis may be a better measure of Bitcoin’s value in the future.
Appearing on Bloomberg, Kraken CEO Jesse Powell explained why he believes dollar-based long-term price predictions for Bitcoin are flawed, emphasizing the inflationary nature of fiat currencies.Responding to a question asking Powell for end of year price predictions, Kraken’s CEO said: “I think I said Bitcoin is going to infinity and that’s kind of hard to comprehend because I’m measuring it in terms of dollars.”Offering alternative measures for valuing Bitcoin, Powell speculated the value of Bitcoin may 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. Powell 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 Bitcoin spent much of 2019 and the first half of 2020 trading for the price of a secondhand 2010 Honda Civic, one Bitcoin could have purchased a brand new Civic when the price broke into new all-time highs at the end of year.When asked about Ethereum, Powell emphasized the importance of the booming non-fungible token sector, stating: “All of the …
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