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Crypto evangelist Max Keiser says Bitcoin (BTC) could increase 300x as it sets its sights on the dominance of the US dollar.Â
On a new episode of RTâs Keiser Report, the Bitcoin bull shares a Morgan Stanley report with his 4.17 million YouTube subscribers that says the flagship cryptocurrency will remain an asset class and is a viable alternative to gold as a store of value and the US dollar as a means of exchange.
âDo you accept fiat money where the volatility is zero, but the loss of purchasing power is guaranteed? Or would you prefer Bitcoin, where there is volatility but the gain in purchasing is guaranteed? Those are your two options.âÂ
Keiser adds that the king coin is close to dominating the precious metals market. He forecasts that BTC will overtake silver within a few months and get halfway to goldâs market capitalization in 2021.Â
âOnce it gets past gold, only the dollar is left and the thing about Bitcoin is that it is the apex predator. It is the shark in an ocean full of goldfish and or plankton, which is the US dollar.Â
They print a lot of dollars but theyâre not particularly robust and they are going to be decimated as Bitcoin dominates and becomes the global world reserve currency as we predicted. Morgan Stanley now is finally waking up to this.â
Keiser points out that as Bitcoin displaces gold and the US dollar, the value of the leading cryptocurrency will rise meteorically.Â
âI guess itâs going a lot higher because it has to replace gold. It has to replace the US dollar. The total addressable market (TAM) for Bitcoin is $300 trillion. Itâs now at $1 trillion. Itâs got a 300x path to go from here. Own it or have fun staying poor.â
In other trending Bitcoin News today:
En Route to $200K? Bitcoin Closed February 26% Above Stock-to-Flow Model Price
The bitcoin price is outpacing the popular Stock-to-Flow (S2F) model, which predicts that the BTC price would eventually reach $200,000.
The S2F model forecasts the long-term price trend of Bitcoin by taking two main factors into account, namely the amount of BTC in existence (the stock) against the amount of newly mined coins entering the market (the flow).
According to the the S2F multiple, the price of Bitcoin should be hovering at around $36,851 in order for the S2F model to be on track.
Due to the recent bull cycle and Bitcoinâs strong momentum, BTC/USD is now well above the S2F estimate at around $49,000.
Saifdean Ammous, the renowned author of The Bitcoin Standard, emphasized that Bitcoin rarely diverged from the S2F model since it was created well over two years ago.
As Cointelegraph previously reported, S2F creator PlanB said that he has no doubt the price of Bitcoin would reach $100,000 by December 2021, based on the model.
In mid-2020, PlanB said Bitcoin could tap anywhere between $100,000 to $288,000 by December of next year. He said:
âPeople ask if I still believe in my model. To be clear: I have no doubt whatsoever that bitcoin S2FX is correct and bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!â
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Show Notes / Resources:
Bitcoin Analyst Sees âAggressiveâ Bull Run Towards $64,000; Hereâs Why