TL;DR Breakdown
- Max thinks Bitcoin could soon pose serious competition against Gold.
- Bitcoin will attract more attention amid an impending economic crisis.
Bitcoin has been scoring successive wins as it continues to break price records and set new all time highs. Over the last few weeks, the crypto has surged way past the previous ATH of $20k to set a new record. At the moment, BTC is trading at just under $40k. It’s expected to cruise past this mark possibly within the week.
It’s this crypto hype that has a lot of people speculating about the future of Bitcoin. According to one Max Keiser, BTC is headed for a serious upswing that could see it hit the $200k mark by the end of the year. Max let his opinions known during an interview hosted by Stansberry Research.
Bitcoin to catch up with gold
During the interview, Max opined that Bitcoin’s upward price drive could greatly increase its market cap to rival Gold. At $200k, BTC would be posting a cool market cap at around $4 trillion. Although this may not even be half of Gold’s market cap, it would spell a serious threat to Gold and cement the already growing notion of the coin’s unrivalled power.
In fact, many people have already expressed serious expectations that BTC will overshadow Gold’s market share and ultimately grab the top position as the ultimate asset for store of value. If this happens, BTC will have won the supremacy battle against Gold.
Economic turmoil ahead
One of the factors that will contribute to this outcome, at least according to Max, is the inevitable global economic crisis that’s about to set in. For one, central banks are the ones to blame for the current fiat inflation because they have been printing trillions of fiat currency and injecting it into the circulation. This has caused fiat currencies to lose value against Bitcoin and other cryptos. As a result, people have turned to the King of Crypto as a safe haven to maintain the value of their wealth.
Bitcoin will save the day
If a severe global economic crisis ensues, Bitcoin could become even more popular as people completely abandon fiat for cryptos. This situation has been foreseen by various prominent people in the crypto community.
