Max Keiser Shakes the Bitcoin Perspective “What Bear Market… 10-100x Investment Returns”
Max Keiser of Russia Today is one of the few voices in mainstream media that seems to be a crypto proponent. In one of his recent episodes of Keiser Report, he called Jimmy Song, leading Bitcoin developer to talk about the crypto ecosystem.
Yellow Vest protest, which began to denounce the government proposed fuel tax hikes has escalated into a general revolt against economic policies and could spill far beyond France, Max Keiser noted in the latest episode of his show. He said that it can become a
“part of global insurrections against banking occupation” and “the first global insurrection to fight against globalism and the global dominance of central banks.”
Looking at these events Keiser says that decentralized Bitcoin is the currency of the future.
He says that one of the primary reasons behind the downfall of the USD is the development of financial alternatives such as SWIFT— a global interbank communication protocol that has gained increasing prominence over the past few years.
“ A replacement to that [SWIFT] begins the end of the US Dollar hegemony. Bitcoin also emerged in 2009, and that is starting to take over and get bigger despite de price crash. The prices are down. So we’ve seen a few of these crashes, but what I do know from experience In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week.”
Even though it might appear as though the world's top crypto asset is having a rough year, with the US stock market currently in the nucleus of a critical downturn, it appears as though more and more people are now looking towards digital currencies as being their favored means of ‘long-term value storage’.
He thinks that there is no bear market despite the ongoing crypto winter:
What bear market?
Pretty much everything my crypto VC fund invested in (started in 2011) is up 10 – 100x.
Kraken, ₿itstamp, Shapeshift, Bitfinex, Bitso, BitPesa, BitPay, CasaHODL, Unocoin, Uphold.
— Max Keiser, tweet poet. (@maxkeiser) January 12, 2019
Keiser is a skeptic of Bitcoin for short term although he thinks that the potential for Bitcoin c can only be realized in the long term.