Bitcoin (BTC) heading to $100,000 due to institutional FOMO suggests Max Keiser
Long term Bitcoin proponent and Perma bull Max Keiser has once again come out with a long term price target of $100,000 for BTC.
Keiser appeared in a recent interview with Kitco News wearing a Bitcoin tie and discussed Crypto assets, gold, silver, federal reserve’s policies and much more.
Quantitive easing and Bitcoin price prediction
The RT (Russia Today) newsman started the interview criticizing the Federal Reserve’s decision to allow permanent quantitative easing, he calls is “Completely irresponsible, global shenanigans.” Keiser suggests that this is one of the reasons to invest in Bitcoin as a store of value for the long term as the world moves away from the dollar standard.
Keiser believes that Bitcoin bottomed around $3200 just around the time when the Fed announced its plans for permanent quantitative easing. He claims to have not sold a single satoshi as his price target is $100,000 per BTC.
“To capture a piece of the gold market, you’re talking $60-, $70-, $80-, $100,000 a Bitcoin. I have not sold any Bitcoin because my price target is $100,000 and beyond,”
One of the largest Crypto funds in the world Grayscale, which custody’s over a Billion Dollars worth of Bitcoin recently launched a campaign called Drop Gold. The campaign highlighted why Bitcoin is a better bet than gold as a store of value. Max who also happens to own a lot of gold agreed that gold and Bitcoin could co-exist with each other.
In the interview, Max touches upon some of the problems with gold one of them being the excessive price manipulation that goes on in the gold markets. The total market cap of Gold is about $8 Trillion which is nowhere close to where Bitcoin is today with a market cap just above $140 Billion, this makes it a much better bet than gold according to Keiser.
Many major financial institutions like Fidelity, TD Ameritrade, Bakkt, JP Morgan, etc are preparing to launch Crypto products which could drive institutional investors like Hedge Funds, Pension funds, Sovereign wealth funds to invest in Crypto assets.
Keiser believes that this could drive FOMO (Fear of missing out) amongst institutional investors similar to that of retail investors back in 2017 which could drive up the price of Bitcoin causing a bull run.
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