1 Bitcoin worth a Bugatti by 2023 according to Kraken CEO

Jesse Powell, CEO of Kraken, thinks that there are better metrics to measure Bitcoin price and that the strength is only gaining from here.

📈 Which financial instrument has yielded the best 10 year return?
A €250 investment in 2010 would have returned:
€3,303,941,024 (+1,321,576,409%)
BTC is predicted to hit €300k this year. Capitalise from a €250 deposit!
Bitcoin Evolution

Register your Bitcoin Evolution account through Coin Insider and receive a FREE Personal Account Manager to walk you through your account setup process.

A €250 investment in 2010 would have returned:
€8,516 (+3,406%)
Don't miss out. Capitalise on AMAZON now!
€22,953 (+9,181%)
Don't miss out. Capitalise on NETFLIX now!
€1,912 (+764%)
Don't miss out. Capitalise on ALPHABET now!

  • Zero commisions & fees
  • Trusted by 20,000,000 users
  • Best overall broker reputation

67% of retail investor accounts lose money when trading CFDs with this provider.

Jesse Powell, Kraken CEO, has said that he thinks Bitcoin will be heading towards a place where it will become the world’s currency. Speaking with Bloomberg, the Bitcoin advocate offered bullish predictions regarding the future of the cryptocurrency

According to Powell, Bitcoin will be going “to infinity” in terms of dollar-value, but more importantly that the digital currency will become the world’s currency. He suggested that comparing Bitcoin to the dollar in terms of predictions where the token might be going is a flawed way of looking at the market. Because of the inflationary rate of fiat currencies and the limited supply and increasing demand for Bitcoin, the better way of looking at the strength of the cryptocurrency market might be looking at the purchase value of something more tangible and stable like a sport’s car. He noted that he suspects one Bitcoin will buy a Lamborghini by the end of 2021 and one Bitcoin will get a Bugatti by 2023. He continued:

“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.”

Ethereum use-case

Powell believes that the fresh attention to the altcoin market, with Ethereum leading, is a result of non-fungible tokens (NFTs) booming. He offered:

All of the NFT activity is really driving up the use of Ethereum.

He also noted that Polkadot, a network that has been exploding in volume and value recently, is gaining traction likely as a result of its lower transaction fees and niche technology to better the speed and efficiency of the network.

Related Articles

Grayscale cryptocurrency AUM holdings passes $50 billion

Grayscale has added more to its cryptocurrency holdings, taking it to a new record amount as it tags a milestone figure.

Dogecoin rallies to brand new record high values

Dogecoin, the meme coin in the cryptocurrency market, has seen a massive 36% surge to break a new all-time high.

Ethereum breaks record high ahead of new upgrade

The leading alternative cryptocurrency Ethereum has smashed a record to see a new all-time high trading value.

Adoption: Romanian university accepts crypto payments

A local public university in Romania becomes the first in the country to allow students to pay fees using cryptocurrency.

See All