KEY POINTS
- Bitcoin investor and Keiser Report host Max Keiser increased his Bitcoin price prediction from $100k to $400k
- Keiser said the increase in Bitcoin’s value will coincide with the USD collapse
- Keiser said America is in a “Sputnik Moment” in deciding whether or not it wants to win the Bitcoin Hash Rate war against China, Russia and Iran
Bitcoin investor and Keiser Report host Max Keiser increased his Bitcoin price prediction from $100k to $400k, explaining that the increase in value will coincide with the U.S. dollar collapse.
Keiser said the reason for new all-time highs in the stock market is not because the economy is doing well, but because “the currencies are collapsing.” He told Cointelegraph when the dollar collapses, the Bitcoin will gap higher “by 10,000 at a clip” before making a run to $400k.
“My target for BTC since 2011 has been $100,000 and I recently upped that to $400,000. The timing depends on when exactly the USD collapses,” said Keiser.
His previous price prediction was $100k in 2011. Keiser noted that the bigger U.S. debt is an important factor, warning that when “interest on the debt gets close to 100% of the GDP, America will officially be a failed state.” He predicts this might happen in 5 years when short interest rates go back to 5%.
Keiser also cited multiple reasons as to why Bitcoin continues to be bullish. The world’s first cryptocurrency has outperformed every other asset class since its inception. He says billionaire hedge fund manager Paul Tudor Jones, who announced his Bitcoin exposure in May, is someone “the Bitcoin community has never seen the likes of before.” Keiser predicts that Jones will be the biggest Bitcoin ‘hodler’ within the next 2 years. Hodler refers to Bitcoin investors who buy Bitcoin but never sell.
As to whether the United States will own more Bitcoins than other countries is still undecided, predicting that the country will enter into a Hash War with China, Russia, and Iran. Keiser thinks this is a “Sputnik moment,” in reference to that time when the U.S. decided it wanted to win the space race by catchup and doubling up efforts vs. the Soviet Union’s.
The U.S. will also have some catching up to do regarding Central Bank Digital Currencies (CBDC). Believed to be a pivotal moment in the economy and a way to course users away from other cryptocurrencies, China has already pilot-tested CBDC in key cities while the U.S. is still studying it, as mentioned in a recent Committee Hearing.
Finally, Keiser predicts that altcoins “will [not] attract enough energy to survive” and regulators should actually warn people about failed projects like Bitcoin Cash. Bitcoin Cash is a hard fork of Bitcoin that claims to be the token that stayed true to the vision stated in the original Bitcoin whitepaper published in 2008. Some of its proponents include Bitcoin.com founder Roger Ver.