The CEO of Kraken, Jesse Powell, is hopeful for the price of bitcoin in future. To put things in perspective, Powell said that one bitcoin will be worth a Lambo by 2022.
In an interview on Bloomberg, Kraken CEO elucidated why he is reluctant to give price predictions for Bitcoin in dollars. According to him, the nature of the dollar and other fiat currencies is inflationary. Therefore, it is difficult to put a number on the price of bitcoin against dollars.
When asked about his end of the year price prediction, he responded in the following words:
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.
He gave alternatives for measuring BTC’s price. Furthering his ideas, Mr Powell gave the prophecy of the surge in Bitcoin’s price from One BTC per Tesla Model 3 (at the moment) to “One bitcoin per Lambo” by 2022.
Powell went on to speculate that by the end of next year, one bitcoin will be worth a Bugatti.
Altcoin Price Predictions:
The interviewer asked Jesse Powell about the altcoin future as well. In response, Kraken’s CEO was positive about Ethereum’s future as well. He mentioned NFTs as a cause for the increasing popularity of the ethereum blockchain.
Powell also alluded to the rising potential of “Polkadot“, which is said to be the next “ethereum“.
There are a lot of other 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,
Polkadot offers a solution for the Ethereum blockchain’s scalability issue. It is also cheaper to use with a low transaction fee.
In concluding comments, Jesse Powell – Kraken CEO said,
Crypto can actually just completely replace everything that exists in the traditional system.