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
Bank of America Now Considers Crypto a Business Risk
Bank of America has cited cryptocurrency as a material risk to its business, public records show.
The technology could hamper the second-largest U.S. bank's ability to comply with anti-money-launde
New York Lawmakers Are Open to Revisiting the BitLicense
"Anyone in the crowd that does not think the BitLicense needs to be reformed?"
Not a word from the audience. Then, a few seconds later, laughter at the awkward silence.
But the question itself,
Video Game Giant Ubisoft Is Exploring Blockchain Use Cases
French video game publisher Ubisoft is exploring potential applications of blockchain in its Strategic Innovation Lab, which studies emerging technologies and their use cases.
Lidwine Sauer, the La
Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that
If blockchain technology is going to revolutionize how we transact with each other, computer scientists need to solve one big problem: It can consume way too much energy. The original blockchain,
Ethereum Governance 'Not That Bad' Says Buterin Amid Fund Debate
Ethereum's governance model isn't flawed, it's just badly communicated, the cryptocurrency's creator Vitalik Buterin said in a developer meeting Friday.
Coming amidst a heated debate over a proposa
Austria Planning New Regulations for Cryptocurrency, ICOs
Austria has joined the list of countries planning to regulate cryptocurrencies and will use as a model existing rules for the trading of gold and derivatives.
The government's central concern is cu
Jeffrey Gundlach says if you want to know where stocks are going next, watch bitcoin
Want to know where stocks are going next? Jeffrey Gundlach says take a look at bitcoin. "Strangely, bitcoin seems to be the poster child for social mood and market mood," Gundlach, the founder of
Elon Musk just revealed how much bitcoin he owns—and it's surprisingly little
Serial entrepreneur and tech billionaire Elon Musk recently shared how much bitcoin he has to his name and it's a surprisingly little amount â 0.25 BTC or about $2,531 as of publishing time.