• Max Keizer calculates with Ether and Altcoins
• Bitcoin connects the monetary system with software solutions
• Kudos to El Salvador’s bitcoin policy
Demand for Bitcoin “virtually infinite”
The US publicist Max Keizer is considered a critic of the global financial system. Accordingly, Keizer repeatedly comments positively on the Internet about Bitcoin, the oldest and largest cryptocurrency in terms of market capitalization, which was introduced in 2009 as an alternative to traditional banking transactions. With the two investment companies he co-founded, Heisenberg Capital and Bitcoin Capital, the fan of the cyber currency therefore wants to support companies related to the coin. The market expert is certain that big things are in store for Bitcoin. In a recent interview with Stansberry Research’s Daniela Cambone, Keizer stated that the demand for the internet coin is “virtually endless,” while demand for fiat currencies is slowly but surely approaching zero. Accordingly, bankers worldwide – including ECB President Christine Lagarde – must understand that Bitcoin is considered an “escape option” from traditional currencies.
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Massive price target for 2022
The journalist is certain that the trend surrounding the coin will continue. He explained to Cambone that he had already made an optimistic forecast for the past year, which was not achieved due to the massive resistance against Bitcoin. “As for 2021, I said we’re going to get to $220,000 per coin, which is a typical four-year cycle. What we had in 2021 was the massive slump in China in mining and hash power,” Keizer said to consider. “Mining and hash power plummeted by 50 percent. We’ve now made it back and we’re on the verge of hitting a new all-time hash rate high. So I’m moving my $220,000 goal from 2021 to 2022 .”
Bitcoin solves age-old problems of mankind
Just a few days later, Keizer was a guest on “Kitco NEWS”, the video portal of the commodity trader of the same name, and continued to rave about the digital currency. “[Der Bitcoin] solves a problem humans have had for hundreds of thousands of years, which is the need to trade value for value across space and time,” the former Wall Street trader told moderator Michelle Makori. This is something no other asset class can match.” So there’s gold, which is great for exchanging value over time, but very bad for exchanging over space. In other words, it’s difficult to transport gold.” And transporting money is also difficult. “Fiat money can be transported in space, for example in suitcases full of hundred-dollar bills, but over time it balloons up and disappears from the world,” Keizer continued. “With bitcoin, you can transport it across space and time.”
Harsh words about Ether & Co.
As much as Keizer is enthusiastic about Bitcoin, his attitude towards other cryptocurrencies is much more critical. In contrast to Bitcoin, Ethereum and numerous altcoins do not have any properties that would make them solid currencies. The imitators lack scarcity, volatility and decentralization. Instead, Ethereum & Co. are “pyramid systems”. “They are just plain scams. None of these altcoins have had any useful development that hasn’t turned out to be a total scam,” the BTC disciple said. “These DeFi projects routinely blow up, people get blown up all the time.” DeFi protocols operate in a legal gray area that eludes the law, allowing for fraud schemes.
Bitcoin benefits from software revolution
Bitcoin is the only thing to recommend on the crypto market, the Ethereum critic told Makori. Accordingly, the currency fits perfectly into a world that is characterized by software solutions and the Internet. “Over the past 40 years, software has transformed every single industry in the world, and every company is ultimately a software company,” Keizer said. “Amazon is a software company. Chrysler Motors is a software company. All medical device companies are software companies. Software makes the world go round.” Appropriate software applications have now also found their way into the area of fiat currencies, but mankind is still trapped in “a 100 or 200-year-old technology” with the use of US dollars, euros and the like. But this is where Bitcoin comes in and can continue the digitization turnaround: “Bitcoin has modernized money and is now up to date with the rest of the software-controlled world,” says Keizer.
Keizer endorses El Salvador’s Bitcoin commitment
Keizer also welcomed El Salvador’s move to become the first country in the world to introduce bitcoin as legal tender in September 2021. The Bitcoin fan, who was in the Central American country at the time of the interview, explained to Kitco NEWS the procedure for the so-called volcanic bonds that the Salvadorian government is currently planning. Half of the ten-year bonds are to flow into Bitcoin and half into the country’s infrastructure, with investors receiving part of their deposits back in the form of Bitcoin after just five years. The geothermal energy in the country, which emanates from a nearby volcano, can be used as an energy source for the computationally intensive mining of the cryptocurrency. “Volcano bonds will fully revitalize the economy,” the Bitcoin fan is also quoted on the front page of the Salvadoran newspaper “Diario El Salvador”.
Buenos dias! ☀️☀️ Esta es la portada de Diario El Salvador para este jueves 10 de febrero. ??? pic.twitter.com/x0Koe1cQFM
– De Dinero | Diario El Salvador (@DeDinero_ES) February 10, 2022
El Salvador’s president is ‘a visionary’
The investor firmly expects the country to become debt-free with the help of the bonds, as reported by “Bitcoin Magazine”. The country is highly indebted and is currently negotiating a $1.3 billion loan package with the International Monetary Fund. The organization had previously strongly advised against accepting Bitcoin as a means of payment and has repeatedly warned of the risks that arise when dealing with cryptocurrencies. However, Nayib Bukele, President of the Central American country, ignored the IMF’s advice. Nevertheless, Keizer found words of praise for the politician to the newspaper Diario El Salvador: “Einstein, Martin Luther King and other great personalities were visionaries. If you were to list them today, President Bukele would be on this list,” says the crypto expert. “Bukele is a visionary, he thinks differently and is about to change this country and possibly the world.”
Will Guatemala be the next BTC country?
According to the market expert, El Salvador will not remain the only country in which Bitcoin is legal tender, despite pending regulatory measures in numerous countries. When asked which country could follow El Salvador’s lead, Keizer first told Kitco host Makori that he thought Guatemala was likely. However, he then explained that he did not have to speculate because he already knew where Bitcoin’s journey was going next. However, he is not yet allowed to announce this to the public.
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