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August 9, 2022
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The Ethereum exchange rate will break the level of USD 2,000 this year, says Kraken’s CEO –

The president of the Kraken cryptocurrency exchange, Jesse Powell, predicts that by the end of 2022, the price of Bitcoin (BTC) may reach over a million USD, and in a few months the Ethereum (ETH) price will rise above USD 2,000. The reason for the latter will be the changes that will take place thanks to Ethereum 2.0. There is only one problem. It’s about the way cryptocurrencies are priced …

Ethereum and Bitcoin will rise due to inflation

Speaking to Bloomberg TV, Powell spoke about the BTC price.

– I think Bitcoin is going to infinity and it’s a bit hard to understand as I measure it in dollars – He said.

According to the CEO of Kraken, an easier method would be to measure the Bitcoin rate using the prices of expensive cars.

One Bitcoin for one Model 3 [Tesli]. I think that by the end of the year it will be 1 BTC for 1 Lambo and probably by the end of next year it will be 1 BTC for 1 Bugatti – he translated.

What prices are we talking about in USD? The 3 Tesla model costs about $ 35,000-56,000, the Lamborghini costs about $ 200,000-500,000, and the Bugatti costs from $ 1.7 million to over $ 19 million.

Powell explained that the reason for this measurement is that it is not known what will happen to the dollar.

– In a year [na rynku] it could be 10 times the amount of US dollars, so it’s really hard to measure [wartość] Bitcoin against the dollar – He said.

ETH rate

As for Ethereum, Kraken’s CEO noted that the fact that the project is switching to Ethereum 2.0, somewhat limiting the supply of ETH, could mean that by the end of 2021 we may see a rate higher than $ 2,000.

Interestingly, Dawn Fitzpatrick from Soros Fund Management looks at the cryptocurrency prices in a similar way.

– We find it interesting, so when it comes to cryptocurrencies, overall I think we are in a really important moment as something like Bitcoin could remain a side asset were it not for the fact that in the last 12 months we have increased the US money supply by 25 per cent, so there is a real fear of degrading fiat currencies – she noted in one of the recent interviews.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK

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