Bitcoin

Institutions Getting into Bitcoin Will Drive Price to $100,000

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The host of Keiser Report and Bitcoin bull Max Keiser has again expressed optimism that Bitcoin will reach his predicted $100,000 price. Speaking in an interview with Kitco News, Keiser said several factors such as major institutions like TD Ameritrade, eToro and others getting into Bitcoin will eventually take the price to his price target of $100,000 per coin.

Bitcoin, not gold, is the store of value
Keiser has always supported Bitcoin strongly over gold even though he has a lot of gold as he confirmed. His reason is that Bitcoin is becoming the preferred store of value because there is a lot of price manipulation by big “sharks” going on in the gold industry and people are going to move to something that has a real price appreciation like Bitcoin. According to Keiser, gold has been without a competitor for thousands of years but Bitcoin has shown up as a formidable competitor that the industry will have to deal with and its chance of succeeding is quite slim.
Speaking on the #Dropgold campaign by Grayscale, Keiser said almost mockingly that those in the gold camp could come up with a counter campaign against Bitcoin “like dropBitcoin.” He also said the campaign has contributed to pushing Bitcoin price up in the current bull market as Barry Silbert is an expert in market issues if Bitcoin and the current bull market will continue as Bitcoin has hit the ultimate bottom of $3200 in 2018.
Also Read: Are Bitcoin and Cryptocurrency Being Driven by China, Japan, and Korean Markets?
Bitcoin maturing
In addition to its advantages over gold as a store of value, Keiser said Bitcoin is getting to a stage of maturity where “volatility will ebb”. He said Bitcoin started as a store of value/commodity but graduated to become a medium of exchange and is now getting to the level of a “unit of account” and will be stable in terms of volatility at $100,000 and retailers such as Whole Foods, eBay etc will start using it. Several retailers including eBay and Whole Foods are already accepting Bitcoin for payments as reported by forbes. This has been made possible through a partnership between Gemini and payment company Flexa.
Max had earlier predicted that Bitcoin will reach a price of $100,000 in 2021. Keiser didn’t stop there, he predicted that Bitcoin will kill every other cryptocurrencies on its way to the price target. He then doubled down on his prediction just as he doubled down on the Kitco interview.
SummaryArticle NameInstitutions Getting into Bitcoin will Drive Price to $100,000 – Max KeiserDescriptionBitcoin bull Max Keiser has once again affirmed his optimism that Bitcoin will hit $100,000 a piece in 2021. He added that Bitcoin is becoming the preferred store of value which is maturing and will soon become widely accepted as its volatility ebbs.Author
Ponvang Bulus

Publisher Name
Coingape

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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