Max Keiser: “Bitcoin, like Gold and cash, is a ‘risk off’ asset”
Known cryptocurrency investor and founder of Heisenberg Capital Ltd. Max Keiser said that in the future, the price of Bitcoin will only grow, and, reaching $ 100,000 will absorb the usual fiat money.
He also expressed the opinion of the "genius" of the Bitcoin protocol, stating that "more you understand" how it works, "more clarity you achieve."
Keiser stressed that the current market downturn is only a "standard pullback", as the price of Bitcoin soared too much. A businessman bought Bitcoins for $ 1 in 2011 and can now tell about the frequency of the ups and downs of the price of the first digital currency. Now, according to Keiser, a "cryptocurrency winter" has arrived.
"The long-term chart is fine. It's still bullish. Keep in mind, my cost basis is under $200." he said.
Keiser's 30 years of experience on Wall Street allows him to be very confident in his opinion. He even joked that the US Securities and Exchange Commission (SEC) may not fully understand the state of the cryptocurrency market.
"I think the market sees Bitcoin as a 'risk on' asset, so it moves in unison with stocks. At some point, the market will understand that Bitcoin, like Gold and cash, is a 'risk off' asset. When the market realizes this, we'll see ATH as safe-haven, capital flight money moves into Bitcoin," he said.
Wall Street Veteran said that in the future Bitcoin will only grow, and when the main cryptocurrency reaches $ 100,000, it will begin to absorb the usual fiat money.
It is noteworthy that Keiser is not sure that humanity will reach this point - in the opinion of the founder of Heisenberg Capital, it can pollute the environment so much that it will simply outlive itself.
Recall that Keiser predicted a rise in Bitcoin prices above $ 10,000 in October 2017. Then he noted that the influx of new users would easily allow Bitcoin to fix the price at this point.