The chief executive officer of the Kraken crypto exchange claimed that he will be able to buy a Bugatti car with 1 Bitcoin, even though his past Bitcoin price prediction failed.
Jesse Powell is the chief executive officer of the Kraken crypto exchange. Kraken exchange is a popular crypto trading platform, which stands at the fourth rank in the whole crypto Industry. Kraken exchange is known to provide services under full compliance.
On 16 August, Kraken CEO appeared in an interview with Bloomberg TV, where he talked about his failed prediction of Bitcoin price.
In the past in the same host show in 2021, Jesse said that Bitcoin will touch a price value equal to a Lambo in 2021, and in 2022 it will touch equal to the value of Bugatti.
“Probably by the end of the year (2021) it’ll be one Bitcoin per Lambo, and probably by the end of next year (2022) it’ll be one Bitcoin per Bugatti.”Kraken CEO said in 2021
When this prediction was made by Kraken’s CEO then at the time Bitcoin’s trade price was $48,000. When the host asked about his failed prediction on Bitcoin then still Kraken CEO didn’t step back.
Kraken CEO said that he hadn’t expected that the crypto market would hit such a critical situation but still he expects that 1 Bitcoin price value will be equal to 1 Bugatti car.
Bugatti car price vs Bitcoin
At the time of writing this article, the price of Bitcoin is $24,000 and the price of Bugatti car models lying between $1.9 million and $3.3 million.
We can see that there is a big difference between these two things’ values.
However Kraken CEO said that he purchased Bitcoin at $18k in the last significant price correction of Bitcoin, after Terra’s collapse, and he is bullish on this price of Bitcoin.
“I bought in Bitcoin again at 18,000, I’m happy to ride it back up. I’m still bullish in the long run, the fundamentals keep improving. I’d never bet against Bitcoin.”
Kraken’s CEO Indirectly tried to point out the situation (network effect) for Bitcoin, which will keep improving from time to time.