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Kraken CEO Jesse Powell is very optimistic about future BTC prices. He has repeatedly noted that cryptocurrencies are heading towards "infinity," especially given that the United States continues to print excessive amounts of money.
When he was asked to specify that "infinity" in dollar terms, Powell said that even $1 million per bitcoin as a price target within the next ten years sounds "reasonable".
In a recent interview with Bloomberg, Powell talked about measuring bitcoin in prices of luxury cars.
"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".
Although Powell believes that there is no need to estimate the value of bitcoin in US dollars with the current Fed's policy, it is still worth reviewing how much one coin would be worth if his prediction comes true.
The cheapest new Lamborghini model in the US is currently the Huracan Evo worth $179,000. The most expensive one is the Aventador SVJ worth $515,000. Thus, BTC is projected to trade between $179,000 and $515,000 in the next nine months.
According to Powell's forecast, bitcoin could rise even higher in 2022. Given that the cheapest new Bugatti on sale in the US – Chiron – costs $2,990,000, this means that the price of bitcoin in dollar terms must gain more than 5,000%. The most expensive Bugatti, the Chiron Super Sport 300+, is worth $3,900,000.
In addition, the head of crypto exchange Kraken is rather bullish on Ethereum. He predicts that the price of ether would be well above $2,000 thanks to the upcoming release of ETH 2.0 and a large number of projects based on the Ethereum blockchain network.
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