Ever-the Bitcoin bull, Max Keiser has declared that he thinks Bitcoinâs top will be $100,000. According to Russia Today, the network on which Keiser has a regular slot on global economics, Keiser stated in an interview that theÂ worldâs leading digital currency is a âgift from God to help humanityâ.
The cryptocurrency advocate went on to elaborate his predictions for the alt-coin market. For him, those currently at the top would likely remain whilst many would disappear:
âNinety percent of trading is in the top 20 coins, and that will continue. Coins will come and go. The composition of the top 20 will change less frequently. Itâs similar to the thousands of stocks that trade on the NYSE and NASDAQ. Over the years, many disappear, new ones are listed. The difference being that with crypto, things move 100 times faster.â
Keiser went on to critique Bitcoin Cash. For him, the hard fork of Bitcoin that occurred this August is merely an attempt to cash in on the brand name of Bitcoin. The sometimes-explosive analyst referred to it as nothing more than an alt-coin and tantamount to plagiarism:
âBitcoin cash is an alt-coin that has its fans just like many alt-coins. I donât think anyone who uses bitcoinâs name and applies it to an alt-coin like bitcoin cash does is adhering to acceptable business practices. In other words, bitcoinâs brand is being stolen by a competitor that calls itself bitcoin cash and this is outright fraud in my opinion, just like itâs fraudulent to use Coca-Cola and Nikeâs name to sell soft drinks or shoes.â
When asked if Bitcoin was hyper-inflated, he flipped the question on its head. Clearly, the interviewer meant was the price hyper-inflated, however, Keiser of course used the opportunity to rail against the dollar and the rate of inflation in the US. He spoke of the finite supply of Bitcoin and how the number of Bitcoins minted is ever-decreasing. Of course, being a crytocurrency proponent, he measures wealth using a scale comprising of a certain flashy, wing-doored super-car:
âI can buy ten times more Lamborghinis this year than I could last year with the same amount of bitcoin. The US dollar is an inflating asset. There are trillions more of them every year. The amount I need to buy a Lamborghini keeps going up, not down. Itâs garbage.â
He concluded by comparing those who donât believe in Bitcoin today with Michael Dell in the 1990s. The computer manufacturer called Apple an embarrassment and recommended that they shut down. Two decades later, Apple are one of the most valuable companies in the world and as Keiser reminds us: ânobody talks about Michael Dell anymore.â
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