Max Keiser Challenges Financial Pundits, Questions the IQ of Those Not on the Bitcoin Belief Boat
Max Keiser, a staunch Bitcoin evangelist, is never shy about expressing his thoughts on the planet’s biggest cryptocurrency. In fact, being one of the coin’s earliest adopters, he has never backed down on preaching about its journey to financial sovereignty.
BTC Is Well On Its Path – Keiser
If you’ve been following the Keiser Report on RT.com, then the latest episode certainly still rings in your mind. In this most recent show, Keiser made yet another bold statement about Bitcoin and why it tends to portray its critics in a rather different style.
According to him, Bitcoin is well on its own course and, it’s only a matter of time before it embarrasses its antagonists again. He warned Craig Wright, Roger Ver and Mike Hearn and all those who he said they are suffering from ‘bitcoin derangement syndrome’ that they would be left looking stupid soon. Keiser mentioned Paul Krugman, Nouriel Roubini and several other reputable economists who he says they now look ‘stupid’ for not examining what BTC is all about.
Keiser, who is slated to speak at a forthcoming Bitcoin meeting, was responding to Stacy Herbert’s sentiments that BTC had responded to the response on interest rates rise by the Federal Reserve. Stacy is his co-host and had said the spike in Bitcoin was directly related to the Federal Reserve’s directive that low rates would persist until 2020, at least.
Then, The Prediction!
But for someone who’s never shy to making outrageous statements, Keiser couldn’t have ended the show without throwing a couple of them. He said that the “state actor” would be mining BTC for the “strategic reserve purposes” soon. He added that it is only a matter of time before other countries start competing for hashpower in a bid to manage the network.
But there’s no doubt his sentiments will draw even more backlash from both the industry’s main proponents and its fiercest critics. It would be absurd to fathom the whole idea of state actors controlling a bigger portion of hashpower as it will undoubtedly question the interests of those who’ve always financed the network.
The Question Is: Who Knows If State-mined Bitcoin Will Amass Much Interest?
One of the many reasons that people embrace crypto, is it's independence from the authorities. And so, it is inconceivable for the government to control the hashrate and effectively rewrite the procedures of consensus.
Previously, Stacy Herbert had conjured up the subject of BTC in the Federal Reserve, saying that maybe it’s the reason why the coin responded in almost the same fashion as gold. Saying, “don’t fight the fed,” she was insinuating the gold and Bitcoin spike in value that got deflated almost immediately.
According to her, anyone who simplistically relies on fed’s negative news stands to lose significantly. And the sudden spike that got deflated in under a day is a testament to the validity of her warning.
It would be interesting to see if Keiser’s prediction that the value of a single Bitcoin will eventually hit $100,000 will come true. The stakes are even higher for the vocal “eternal Bitcoin bull” who seemingly won't back down on it.
Some of the questions to ponder on are whether the governments will indeed assume an active role in it and if it is the speculations that will push the price up, higher and higher. Also, it remains to be seen if this cryptocurrency will maintain the same interest from the public if the government takes over the network. Perhaps a new digital currency will emerge and be revered for being a money or privacy coin of choice!
Or, Keiser could be dead-right yet again.