One bitcoin will be able to buy a Lamborghini model by the end of the year and a Bugatti in 2022, said Jesse Powell – the CEO of the veteran US crypto exchange, Kraken.
During a recent interview with Bloomberg, he was also bullish on Ethereum, predicting a price tag well above $2,000 due to the upcoming ETH 2.0 release and the large number of projects built on top of it.
One BTC for Lambo and Bugatti
Kraken’s CEO has been highly-optimistic regarding BTC’s future price performance for a while. He has repeatedly outlined that the primary cryptocurrency is heading towards “infinity,” especially if the US continues to print excessive amounts of the dollar.
When asked to specify what “infinity” means in terms of the USD, he previously said that $1,000,000 per bitcoin sounds very reasonable in the next ten years.
During a more recent interview with Bloomberg, Powell decided to provide a more vehicle-related comparison.
“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.”
How Much Will BTC Be Worth in USD?
Although Powell believes that putting BTC’s price in USD perspective could be unnecessary with the current Fed policy, it’s still worth reviewing how much one coin would be worth if his words come true.
According to data from SuperCars.net, the cheapest new Lamborghini model in the US now is the Huracan Evo Rear Wheel Drive (RWD), worth $179,000. The most expensive one is the Aventador SVJ – $515,000. So, if BTC is to indeed follow Powell’s projection, it could cost between $179,000 and $515,000 in the next nine months.
The 2022 prediction could see bitcoin at an even higher price level – significantly higher. Keeping in mind that the cheapest new Bugatti on sale in the US now – Chiron – costs $2,990,000, this means that bitcoin’s USD price needs to increase by more than 5,000% to reach that level.
Just for the sake of it, the most expensive Bugatti, the Chiron Super Sport 300+, costs $3,900,000.
Bullish on ETH and DOT
Powell also touched upon a few other cryptocurrency projects – Ethereum and Polkadot. He noted that Polkadot had become a vital part of the cryptocurrency industry as its blockchain continues to attract new developers.
Although he failed to provide a price tag for Polkadot’s native crypto – DOT – he said that Ethereum’s digital asset – ETH – would most likely be north of $2,000 by the end of the year.
He believes that the upcoming Ethereum 2.0 launch and the high utilization of the network with DeFi and NFT would be the primary reasons behind the price increase.