By the end of 2021 Bitcoin will buy you a Lamborghini, in 2013 - a Bugatti
The coronavirus pandemic caused significant changes in financial markets around the world. The relief programs launched to save the economy have often resulted in widening budget holes and the printing of money. This may not be very noticeable at the moment, but we could soon be witnessing rising inflation that could spread to most countries.
Therefore, determining the exact value of Bitcoin against the U.S. dollar could be problematic in the future. If more bills come into the market, its value will fall while the nominal values of products and services will rise.
Kraken CEO, Jesse Powell, suggests assigning a specific product to Bitcoin that will better illustrate its value. He uses exclusive cars as an example. In his projection, he predicts that by the end of 2021, one BTC will be able to buy a Lamborghini, and by the end of 2023, a Bugatti. This suggests an optimistic approach to the price of Bitcoin and its further growth, which from the point of view of institutional and individual investors seems to be most beneficial.
On this occasion, it is worth noting that Bitcoin and other cryptocurrencies can become the best investment asset that will effectively resist inflation. The number of individual units of a specific cryptocurrency is finite, while traditional money can be issued indefinitely. The impending global financial crisis seems inevitable, which is why more and more entities are expressing interest in buying cryptocurrency as a form of security - more profitable than gold.
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