Wall Street veteran Max Keiser says money printing and dollar debasement is boosting the rise of Bitcoin.
In a new edition of RT’s Keiser Report, the longtime Bitcoin bull says he expects actions from US regulators to continue to inadvertently make the case for BTC, which has a hard supply cap of 21 million coins.
“The reason why Bitcoin is skyrocketing is because there’s hyperinflation in America. And the US dollar is in a hyperinflationary collapse against Bitcoin. And the solution, as we’ve been describing by these policymakers, will always be to print more money. So that means that Bitcoin is on a one-way trip higher because they have no other policy solution than to print money.”
He points to the 2008 financial crisis as the start of a spiral that brought forth and continues to fuel Bitcoin’s ascent.
Keiser, who is an early Bitcoin investor, says the digital asset’s parabolic ascent could ultimately take BTC to about the $2 million mark.
“They’re just going to keep printing. And well, you know, my Bitcoin is up 9,000,000% since I first bought it. And it’s probably going to go up another 40x.”
On Tesla’s $1.5 billion investment in Bitcoin last month, Keiser says it amounts to the electric carmaker’s CEO Elon Musk going to war with the Federal Reserve.
“This is a speculative attack that Elon Musk is making on the Fed, right. So he’s already gone to war with the SEC. He’s already gone to war with the SEC (U.S. Securities and Exchange Commission) and he’s shown them to be venal and captured. Now he’s gone to war with the Federal Reserve, and says I’m not going to buy back my own stock; I’m going to take your cheap money, I’m going to buy Bitcoin like Michael Saylor is doing. And now 500 other CEOs in the S&P 500 are like, ‘You know what? That’s a darn good idea.'”
They’ve made more on their Tesla investment in less than six months than they’ve ever made in the entirety on their business of selling cars.”
lDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Gonin