Max Keiser claims that the price of bitcoin could rise 300 times should it aspire to take the place of the US dollar as the world’s reserve currency.
He said this during the latest episode of the Keiser Report, published on the RT YouTube channel which has more than 4 million subscribers.
Keiser is a well-known and very bullish supporter of Bitcoin and he bases this prediction on a Morgan Stanley report stating that the king of cryptocurrencies is set to remain and perhaps become a viable alternative to gold as a store of value, and the US dollar as a medium of exchange.
In this regard he said:
“Do you accept fiat money where the volatility is zero, but the loss of purchasing power is guaranteed? Or would you prefer Bitcoin, where there is volatility but the gain in purchasing is guaranteed? Those are your two options”.
He added that the market capitalisation of BTC will surpass that of silver within a few months, and reach half the capitalization of gold during 2021.
Indeed, the market capitalization of silver is estimated at just under $1.5 trillion, and bitcoin’s market capitalization this year has already exceeded $1 trillion, albeit only for a few days.
The market capitalization of gold, on the other hand, is estimated to be just over $10 trillion, so if the price of bitcoin were to approach $300,000 its capitalization would be half that of gold.
Max Keiser: Bitcoin will replace the USD too
Keiser states:
“Once it gets past gold, only the dollar is left and the thing about Bitcoin is that it is the apex predator. It is the shark in an ocean full of goldfish and or plankton, which is the US dollar.
They print a lot of dollars but they’re not particularly robust and they are going to be decimated as Bitcoin dominates and becomes the global world reserve currency as we predicted. Morgan Stanley now is finally waking up to this”.
Therefore, according to Keiser, Bitcoin is expected to not only replace gold, but also the US dollar, particularly as the global reserve currency.
At this point, Bitcoin’s Total Addressable Market (TAM) would be $300 trillion, or 300 times its capitalization today. Hence the prediction that its price could rise 300 times.
