Bitcoin Bull Max Keiser Raises His Target
Max Keiser is not shy about his belief in Bitcoin. Over the years, he was steadfast in his belief that the leading cryptocurrency will achieve great heights.
He is now taking it to another level. He believes that Bitcoin will hit $400,000 and is a buy now as it heads towards $10,000. It will be a 40x return from these prices.
His reasoning is simple. Iran is about to grant a mining license for the first time. Keiser believes that countries can recapitalize by turning to Bitcoin.
Iran is just the first, in his opinion, of many. Once Russia and China figure out the same thing, they will start the process of adding to their countries wealth.
This is what will propel Bitcoin to $400,000.
Of course, over the last few years, we saw a lot of outrageous estimates. Who can forget John McAfee's $1 million Bitcoin, something that he backed off from, claiming it was all a joke,
Nevertheless, many in the crypto industry are optimistic about how the future will unfold. With central banks printing money in an effort to keep the global economy from completely collapsing, the focus now is how the present system is broken.
Crypto enthusiasts believe they offer a better solution. Those who are holding are speculating that acceptance will offer tremendous rewards. Will it happen? It is hard to see at this moment although all signs are pointing in that direction.
Countries that are in rough shape are finding cryptocurrency acceptance. In places such as Venezuela and Argentina, the citizens are turning to it in an effort to get around the inflationary Bolivar.
Now, nations that are under sanction, such as Iran, are turning to Bitcoin mining as a way around what the United States is doing. This is the benefit of a currency that no single individual controls.
By mining Bitcoin, Iran does not need to be a part of the global banking system. The wealth can be generated within the country while all transactions take place on a global network, outside the control of the United States and its allies.
For this reason, Keiser is very optimistic about Bitcoin's future.