Max Keiser - Bitcoin to make new ATH with stock market about to Crash'

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Recently Chepicap got in touch with the broadcaster and perpetual Bitcoin bull, Max Keiser. With his wealth of knowledge following a full decade of immersion in the Bitcoin ecosystem, and his prior years commenting and partaking in the stock market, Keiser shared his views on the potentially bittersweet future of Bitcoin, altcoins, gold, and the wider global economy…





Bitcoin to $100k?: "Still on track"

Keiser's prediction for Bitcoin - or rather, that of his venture firm Heisenberg capital - has been a steadfast and constant one, stretching back as far as 2011. The firm made this call back in 2011 when Bitcoin (BTC) was a mere dollar, suggesting that one day it could go up as high as $100,000; marking what was most probably one of the first BTC predictions ever made.

While this forecast has been floating around the space for a while, the fundamental reasoning behind it hasn’t really been fully explained, until now… “This is based on Bitcoin capturing at a minimum 1 or 2% of the global forex market. The global forex market is a 5 trillion dollars per day market, we think that Bitcoin would capture at least 1% of that market,” says Keiser.

Interestingly, more forex brokers are starting to accept Bitcoin deposits, which may add to Keiser's assumption that, despite Bitcoin only being 6% on its way to its goal, the prediction is “still on track.”

However, when prompted for a time frame Keiser refused, adding that “market timing is for losers”:

“I don’t like to put a date on it because the community is not served well when people put a date on their predictions, because then the community tries to time it and market timing is almost always a losing idea…”

Keiser suggested, that due to the leap between $6k and $100k, Bitcoin would undoubtedly be “outperforming every other asset class in the world,” this, of course, includes gold, whose current role, Keiser noted, was Bitcoin’s best case scenario for the future:

“If it gets to a market equivalent of gold, then the price would be 3 or 4 times higher than that [$100,000]”

Gold vs Bitcoin: "Volatility and opportunity go together"

On the topic of the precious metal, the conversation turned to the recent #dropgold campaign from greyscale, whose slick marketing whimsically highlighted the benefits of Bitcoin over gold. Keiser suggested that gold might need to start marketing itself in light of its new digital competitor:

“My first reaction would be that gold needs better marketing … gold for thousands of years has never had to market itself, and now it does because it has a competitor.”