Max Keiser is Bullish on Bitcoin (BTC,) “My Price Target is $100,000 and Beyond”

Max Keiser is Bullish on Bitcoin (BTC,) “My Price Target is $100,000 and Beyond”

Max Keiser has always been a proponent of Bitcoin, not only because of the evolution of its prices but also because of its fundamentals. In an interview for Kitco News, the host of the well-known TV Show Keiser Report pointed out that Bitcoin can capture a part of the global gold market (the most important asset used as storage of value).

The famous investor also told that despite the strong bearish streak of 2018, he still believes that it is perfectly possible for Bitcoin to reach $100,000 adding that he does not expect to make any significant sales unless this value is surpassed:

To capture a piece of the gold market, youre talking $60-, $70-, $80-, $100,000 to Bitcoin. I have not sold any Bitcoin because my price target is $100,000 and beyond.

Keiser explained that from his point of view, BTC bottomed close to 3200 USD, however, he did not come to this conclusion for technical reasons. The explanation was mainly political.

When the Federal Reserve bank signaled that they were going to permanent quantitative easing, I said look, thats the bottom for bitcoin, that was about $3,200 on bitcoin, because theyre making it clear now that theres going to be no accountability by the Fed. Theyre going to print ad infinitum, ad nauseam, theres going to be no rollback, no kind of attempt to balance their books,

Is Bitcoin Gold 2.0, Fiat 2.0 or just Bitcoin?

Max Keiser

For Max Keiser, one of Bitcoins advantages over traditional fiat money is precisely that there is a fixed and immutable amount of tokens. This prevents a controlling entity from generating an excess of circulating BTC that could cause a drop in prices as a result of inflation.

This has been described by Max as irresponsible and he stressed that bubbles and price changes are normal because BTC is going through a transition stage that gave it several different characteristics (store of value, commodity, medium of Exchange, etc).

Bitcoins advantages over gold have been highlighted by other expert financial analysts. One of the most prominent has been Mike Novogratz who is sure that Bitcoin could easily surpass gold in 20 years.

Golds got an $8 trillion market cap, or a $7.5 trillion market cap. And so, were 100x off on that. Were not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily.

However, Max explained that investors dont have to decide between one and the other. From his point of view, owning both is important to diversify risk.

I own a lot of gold, I bought a ton of silver, but I also own a big position in Bitcoin

Historic evolution of the prices of Bitcoin (BTC) (green) VS Gold (orange)

The post Max Keiser is Bullish on Bitcoin (BTC,) “My Price Target is $100,000 and Beyond” appeared first on Ethereum World News.

17.05.2019 / 00:40 83
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