One BTC Will Buy a Lambo This Year and a Bugatti in 2022 : Kraken CEO
During a recent interview with Bloomberg, Jesse Powell - CEO of US based crypto exchange Kraken - stated that only one bitcoin would be enough to buy a Lamborghini model by the end of this year and a Bugatti in 2022.
“It might be easier to understand if we measure it in terms of Teslas. Now 1 BTC is one Model 3. Probably by the end of the year, it will be one bitcoin for a Lambo. Probably by the end of next year, it will be one bitcoin per Bugatti.” He added.
Jesse has always been highly-optimistic when it comes to bitcoin’s future. He has often outlined that the primary cryptocurrency is significantly moving towards “infinity,” if the government continues to print excessive amounts of the dollar. When he asked to explain what “infinity” means in terms of the USD, he stated that $1 Million per bitcoin sounds very reasonable in the next ten years.
Though Powell strongly believes that valuating BTC in USD could be redundant with the current Fed policy, it’s still worth reviewing how much one coin would be worth if his words come true.
Currently, the least expensive Lamborghini model in the US is the Huracan Evo Rear Wheel Drive (RWD), priced at $179,000 and the most expensive model is the Aventador SVJ – $515,000. So, if bitcoin flows as Powell’s prediction, it’s the price could reach between $179,000 and $515,000 in the next nine months.
The Bugatti case shows bitcoin could reach an even higher price mark while keeping in mind the cheapest new Bugatti model, Chiron on sale in the US now, costs $2,990,000 which indicates that bitcoin’s price needs to increase by more than 5,000% to reach that level.
Jesse was also bullish on Ethereum while predicting above the $2,000 price mark on the basis of upcoming ETH 2.0 release and the large number of projects built on top of the network.