Bitcoinist spoke with the one and only Max Keizer, a Wall Street veteran and host of Keiser Reports, who explained why he believes Bitcoin can reach $100,000 per coin.
Bitcoinist:Keiser Reports was probably the first show to cover Bitcoin back in 2011. At what price did you first buy Bitcoin? Has your opinion about technology changed?
Max Keyser:Yes. In 2011, I bought it for $3, we recommended that viewers of the show also buy it. That same year the price dropped below $1. My opinion about this amazing technology has not changed at all. Auditing all transactions every 10 minutes means that we as a society can move towards harmony and peace much more readily. Bitcoin removes barriers and has enormous potential.
Bitcoinist: Is Bitcoin Gold 2.0? By the way, Bitcoin seems to contradict the Keynesian concept of spending to develop the economy. Is “hodling” a new type of “saving” and is it a real economic activity?
Max Keyser: Bitcoin satisfies all four of Aristotle's conditions for money, just like gold (which he called the ideal form of money). Regarding the development of the economy, I will answer the same as I have answered in Keiser Reports many times: "You cannot build capitalism without capital. Capital cannot exist without savings, and savings cannot exist without an incentive to save."
By the way, it is not Bitcoin or gold that are bubbles, but the flow of investment crap pegged to the dollar that is overloading the world economy; creating wealth and income imbalances, an environmental holocaust, and now war.
Bitcoinist: What position do you take on the issue of Bitcoin vs Bitcoin Cash? Is BCH having a negative impact on Bitcoin as many claim?
Max Keyser:Bitcoin Cash is an altcoin that fraudulently began using the Bitcoin name and a dodgy website. According to my predictions, MaxCoin will have a larger market capitalization than Bitcoin Cash. One of the reasons I returned to the MaxCoin project - besides the excellent development team - was the desire to give users an alternative to the majority of useless altcoins and ICOs.
Bitcoinist: Do you agree with Jack Dorsey, CEO of Twitter, who recently said that “Bitcoin will become the single currency of the Internet”?
Max Keyser:I think he is rights.. Its Cash app, which allows users to sell/buy/transfer Bitcoin, is excellent.
Bitcoinist:The price of Bitcoin has dropped significantly this year. The start of the decline coincides with the launch of Bitcoin futures in December 2017. Do you think the launch affected the price?
Max Keyser: In the case of Bitcoin futures contracts, I do not see any evidence of manipulation. I think the timing coincidentally coincided with the unsustainable breakout to $20,000, which is when the contracts were launched.
On the other hand, I think futures contracts will cause Bitcoin to rise even more. Investors like George Soros and the Rockefellers will certainly use their leverage to hedge positions. In fact, I wouldn't be surprised to see George Soros take over the cryptocurrency market. It can easily borrow funds at almost zero interest and take a dominant position in this segment.
How will the price behave in this case? Obviously it will go up. My long-term goal is $100,000, which is what I first predicted in 2011.
Bitcoinist: Jamie Dimon called Bitcoin a “hoax.” Meanwhile, JP Morgan is considering offering Bitcoin futures to its clients. What do you think about this?
Max Keyser: Jamie is an idiot. Let's take the next question.
Bitcoinist: Recently, a surge of fear, uncertainty, and doubt has become increasingly noticeable. Bubble, tulips, ISIS uses Bitcoin, blockchain contains child porn, etc. Is this a coordinated attack to drive down the price? And who is behind this information attack?
Max Keyser: Economists like Roubini, Paul Krugman and the like cannot have any opinion about Bitcoin other than negative. It contradicts and challenges every page, every word of the textbooks of the mossy economic schools they attended. This was expected. Just ignore them.
Bitcoinist:Former Fed Chair Jeannette Yellen said that Bitcoin is a “volatile storage medium that is not legal tender and is also highly speculative,” playing “a very small role in the payments system.”.. Will there be any comments on this?
Max Keyser:The Fed is technically bankrupt. Their only option for responding to what is happening is to use influence in the media. They are trying to buy themselves some time before their balance sheet becomes worthless and people come to these charlatans' windows with torches and pitchforks.
Bitcoinist: Do you believe that central banks might secretly buy Bitcoin for a hedge in the future? And if so, will Bitcoin become an object of geopolitics?
Max Keyser: Yes, I know what they are buying, but not enough. If you know anyone at the Central Bank, kiss them goodbye, it's over.
Bitcoinist:Your show, Keiser Reports, airs on Russia Today. In your opinion, which country is more suitable for creating a center for the development of the crypto industry - Russia or the USA?
Max Keyser: At the moment it’s a rat race. Much of the industry is now moving to Malta. I think Malta or Puerto Rico could be the best places for crypto business.
Bitcoinist: What is your Bitcoin price prediction for this year?
Max Keyser:My only prediction for Bitcoin is that its price will reach $100,000. When will this happen? Extrapolation of current trends can tell you this.
According to http://bitcoinist.com
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