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Bitcoin is set to reach $400,000 if Joe Biden wins the US presidential election, according to financial guru Max Keiser, RT host of the Keiser Report.
BTC is now set to surge far beyond its former all-time high, when it reached $20,000 in December 2017.
The popular crypto expert has predicted that Bitcoin will surge to $28,000 by the time of the inauguration day if Joe Biden is elected.
The US election and PLANdemic has caused major uncertainty in world markets with tech stocks and the US dollar falling in value.
Cryptocurrency guru Max Keiser shared the following tweets on Crypto Twitter:
“A Biden win* will lock China’s global supremacy, crash the USD, send BTC to $400,000 – as $100,000,000,000 in global managed funds start allocating into BTC to escape. Expect BTC well above $28k by Inauguration Day.”
“2016 Russian election influence categorically proven false 2020 Chinese election influence; by the time the hearings are over, will categorically be proven true. By which time, Bitcoin will be over $100,000. Are you ready?”
He also tweeted:
“A Biden win will trigger a stampede into Bitcoin as the global wealthy attempt to escape.”
The coronavirus PLANdemic has also affected Bitcoin with investors choosing to transfer their assets to safe heavens.
Confidence in Bitcoin has escalated after PayPal announced it would allow payments using the crypto-currency.
Speaking to CNBC Bitcoin investor Mike Novogratz also claimed a Joe Biden win would be good for cryptocurrencies.
He said: “Less fiscal, more Fed, good for crypto.
“We have crossed the Rubicon in crypto adoption, and we’re at the start of a really big bull market there. “You’re going to have every central bank issuing a digital currency within the next five years.”
If Mr Trump wins the 2020 US election it may lead to Bitcoin rising much slower than under his opponent’s administration.
In other trending Bitcoin News today:
“SQUARE AND GRAYSCALE ACCUMULATED $2.3B WORTH OF BITCOIN OVER Q3”
Bitcoin has undergone a strong surge over the past few months in the face of the worst economy in a few decades and much uncertainty.
From the March lows, the price of the leading cryptocurrency has rocketed higher by around 350%, outperforming most other macro assets.
BTC currently trades for $15,700, far above the 2019 highs and almost at the 2018 highs.
The leading cryptocurrency has gained 50% in the past 30 days alone, managing to gain steam despite bearish news events.
This strong rally in the Bitcoin price seems to be related to institutional and retail accumulation.
Ikigai Asset Management’s Hans Hague recently noted that per his analysis, Square and Grayscale alone have accumulated $2.3 billion worth of Bitcoin in the past quarter.
Grayscale is a digital asset manager, the world’s largest, while Square is the fintech company that offers Bitcoin purchases for its clients via the Cash App.
To put this amount of BTC into context, Bitcoin miners brought in around $1 billion worth of BTC over the course of the past quarter.
This suggests that with Grayscale and Square’s inflows alone, there was a shortfall of $1.3 billion BTC, which likely contributed to the upside.
“In 2020-Q3, Bitcoin Miners brought in just under $1 Billion USD. That’s new BTC + Fees. Square and Grayscale alone took in $2.3 Billion USD. That’s a 1.3 Billion USD Shortfall. Supply and Demand.”
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