Bitcoin madness is sweeping the globe and as it intensifies it makes sense to listen to those who saw the tidal wave coming. Max Keiser of the Keiser Reports who famously recommended to friends and colleagues to buy Bitcoin at $3 per coin reveals why it’s going higher. Volatile as ever, Bitcoin is trading in a range between roughly $16,200 and $17,600 Wednesday morning.
Bitcoin to Crush U.S. dollar and “blow the roof” Off of Every Bank in America
Granted Max is a long-time uber Bitcoin bull; however, in his 1 minute Bitcoin pitch, he outlines what investors should be focusing on:
“#1: Bitcoin is a messaging app.
#2: Bitcoin is a store of value.
#3: Bitcoin is a means of exchange or medium of exchange.”
Max highlights the entrance of institutions to the Bitcoin market and what that will mean for the potential price per coin. We outlined this exact topic in Rise of the Rebel Currency published December 10th. Keiser states,
“I know about market making and I know how specialists work in the financial arena. And I know that what’s going on now is that all these guys are building up their inventory. They need an inventory. They need a basis for Bitcoin that’s relatively low going forward.”
Furthermore,
“They’re going to ramp this all the way up to a much higher price before they launch these future products.”
Finally,
“They’ve got to inventory up. They’ve got to get massive inventory on hand so they can play the games they like to play. So, they got to buy it.”
Bitcoin Madness or the Most Regulated Currency of All-Time
Despite popular belief, Keiser explains how Bitcoin is arguably the most regulated currency of all-time.
