It looks like the future of Bitcoin is brighter by the day. Maybe a better measure of its value is through comparing it to fancy and valuable cars such as Lambos and Bugatti. This is especially timely with the dollar’s wavering performance, which may make it soon lose its esteemed value.
Is dollar the deal?
Kraken’s CEO Jesse Powell believes that the dollar has lost its authoritative position as a measure of value and thus may not be the best measurement for the value of Bitcoin. The other factor that disadvantages the dollar is the reason that fiat currencies are inflationary.
From Powell’s interview with Cointelegraph, Bitcoin can be infinity since it is not measured in terms of dollars. He measured Bitcoin in alternative terms such as cars. From his speculations, Bitcoin value may arise from the current price or one BTC per Tesla model 3 to one Bitcoin per Lambo by the end of next year, or even one Bitcoin per Bugatti by the end of 2023. According to him, bitcoin is hard to be measured against the dollar because the dollar is unpredictable.
The better part of 2019 and 2020, Bitcoin was trading for an equal value of a pre-used 2010 Honda Civic, and with the rise in the price of Bitcoin, it could buy a new one by the end of the year.
What about Ethereum?
Even though Bitcoin could be compared to Ethereum, Ethereum’s importance has increased with the non-fungible token. All NFT has been adopted in the Ethereum ecosystem.There is still uncertainty with Ethereum, and the Ethereum staking contract may affect the supply of Ether.
There are rumors that Polkadot is working to introduce the next Ethereum network because of scaling and low transaction fees. There are chances that there are many projects that will be launched on the Polkadot network instead of Ethereum.
Polkadot will be better in terms of speed and efficiency as compared to other crypto networks. With Polkadot, you can process different transactions at the same time.
With a lot of buzz on Eth2, Ethereum’s co-founder cleared the air that Ethereum plans to merge with Eth2. There is also a plan to scale the network more through layer-two rollups.