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In 2023 a Bugatti will cost 1 bitcoin, says the CEO of Kraken
In 2023 a Bugatti will cost 1 bitcoin, says the CEO of Kraken
Bitcoin

In 2023 a Bugatti will cost 1 bitcoin, says the CEO of Kraken

By Amelia Tomasicchio - 31 Mar 2021

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During an interview conducted by Bloomberg, Jesse Powell, the CEO of the famous Kraken exchange, stated that he thinks a Bugatti will cost 1 BTC by 2023.

Due to its deflationary nature, in fact, bitcoin would be destined to rise, unlike the dollar which has an inflationary nature and therefore could be worth less and less.

Indeed, Powell explained to Bloomberg:

“I think I said Bitcoin is going to infinity and that’s kind of hard to comprehend because I’m measuring it in terms of dollars.” 

In explaining his predictions on the price of Bitcoin, Powell cited that while currently, 1 bitcoin is enough to buy a Tesla Model 3, by the end of the year it will be enough to buy a Lamborghini, and by 2023 it will be enough to buy a Bugatti.

How much does it cost to buy a Bugatti with bitcoin

Powell doesn’t specify, but the price of a Lamborghini Huracán is over 200,000 euros for the basic version, while that of a Bugatti is around 2 million euros.

“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.”

Powell on Ethereum and Polkadot

Speaking about the blockchain created by Vitalik Buterin, Powell stressed that Ethereum is fundamental to NFTs and therefore currently has many use cases. The problem, however, is the uncertainty regarding Ethereum 2.0. and for this reason, Powell stresses how potential problems could lead to Polkadot becoming “the next Ethereum” due to the high fees and the slowness of the ETH network. 

He explained:

“There are a lot of other 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 due to the lower transaction fees”.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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