The CEO of crypto exchange Kraken is optimistic that Bitcoin (BTC) will continue to rise and that one coin will be equal in value to one of the most expensive vehicles on the market.
In an interview on Bloomberg TV, Jesse Powell says that 1 BTC may be worth one Bugatti in a little under two years.
For perspective, the cost of the luxury car typically ranges from about $1.7 million to $3 million, while the top crypto is currently hovering at $59,000.
“Probably by the end of the year, I think it will be one Bitcoin per Lamborghini and probably by the end of next year, it will be one Bitcoin per Bugatti…
I think those kinds of assets make it easier to measure Bitcoin against because you never know where the dollar’s going to be.”
Powell says Ethereum (ETH) will also rise amid a booming market for non-fungible tokens (NFTs).
He says the other token that can potentially surge is Ethereum competitor Polkadot (DOT) as he predicts that many projects currently living on Ethereum will likely be moved over to the newer and less crowded blockchain platform.
“The other hot coin really is Polkadot, which is sort of the next Ethereum…
There are a lot of 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 for lower transaction fees.”
Disclaimer: Opinions expressed at cryptotrade247.eu are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. cryptotrade247.eu does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is cryptotrade247.eu an investment advisor. Please note that cryptotrade247.eu participates in affiliate marketing.
Featured Image: Shutterstock/Pruby