Kraken CEO One BTC. In the face of the possibility of dollar deflation, Kraken’s Jesse Powell claims Lamborghinis and Bugattis would be a stronger predictor of Bitcoin’s value in the future.
Appearing on Bloomberg, Kraken CEO One BTC Jesse Powell explained. Why he believes the long-term dollar-based forecast for bitcoin prices is incorrect, emphasizing the nature of the fighting currencies. ۔
Responding to Powell’s question about price forecasts at the end of the year. Kraken CEO One BTC said: “I think I said bitcoin goes uncertain, and it’s a little hard to see that I Why do I measure it in dollars? “
Offering alternative measures to review the bitcoin, Powell suggested that the price of the bitcoin be higher than its current “price” for the Tesla Model 3. “Bitcoin for Lambo” by the end of the year. And by 2023, the “bitcoin for Bugatti” could reach.
First Half of 2020 Selling Price
Although Bitcoin spent most of 2019 and the first half of 2020 selling for the price of a used 2010 Honda Civic. When the price reached new all-time highs at the end of the year. Bitcoin could have bought a brand new Civic.
The Powell stressed the importance of the booming non-fungible token market when asked about Ethereum, saying. All of the NFT operation is really pushing up the use of Ethereum.”
Powell also mentioned the confusion surrounding the completion of the Eth2 overhaul, as well as the fact that deposits to Ethereum’s staking contract are currently depleting Ether supply.
The Powell mentioned the hype around Polkadot while discussing altcoins, implying that the network might be the “next Ethereum” due to scaling and fee issues.
While discussing altcoins?
“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 items that were on Ethereum ported over to Polkadot,” he said, pointing to Polkadot’s “lower transaction fees.”Clearly,
Polkadot aims to outperform other crypto networks in terms of speed and efficiency by handling transactions. Using a “parachain” model in which several sharded chains run in parallel.
Although parachains have yet to launch on the mainnet of Polkadot, the ecosystem’s Acala Network was the first to capture. a parachain slot on the Rococo testnet last week.
Despite the fact that sharding is on the Eth2 roadmap. Ethereum co-founder Vitalik Buterin announced earlier. This month that the developers are actually focusing on the Ethereum-Eth2 chain merge. Although sharding is not a development priority. Buterin is confident that layer-two rollups will scale. The network adequately in the short term. The mainnet launch of Optimism has been postponed until July.