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The Bitcoin price will rise exponentially until âitâll get almost impossible to buy BTC as price rockets higherâ Max Keiser has announced.
Speaking to Express.co.uk, RT host of the Keiser Report, Max Keiser said:Â
âThe demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day.Â
This is why I think institutions that are buying Bitcoin will do so directly from miners and the public wonât have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 per BTC.â
âMeanwhile, Generation Z who bought lots of bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.â
Studying the daily demand for Bitcoin from the worldâs major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.
The daily demand on exchanges amounts to 2,600 BTC, whereas the supply from mining is only 900 Bitcoin.
Of this disparity, Max Keiser said: âThis is amazing, the daily demand from these four is 2,600 Bitcoin, but the daily supply from mining is only 900 Bitcoins.â
This Bitcoin prediction of an escalating price was also echoed by Dan Morehead, the CEO of Pantera Capital, who said:Â
âThe first investment firm in the US to launch a digital currency, pre-auction ICO, and blockchain-enabled venture funds.Â
PayPal and CashApp already buying more than 100 percent of all newly-issued bitcoins. PayPal alone likely buying all within weeks. Where would Cash App get theirs? Thatâs where the finite-supply, inelasticity part comes in, at a higher price.â
Bitcoin expert Dan Held gave a list of the financial institutions âand trading legendsâ that recognize Bitcoin is the new gold.
Mr Held tweeted the following names and institutions, âFidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmillerâ.
A follower of Mr Held tweeted: âBitcoin will divide people into two groups. In those who have it and those who want it.â
In other trending Bitcoin News today:
âBlackRock Chief Investment Officer Says Bitcoin Will Overtake $10 Trillion Gold As Primary Store of Valueâ
Rick Rieder, chief investment officer of global fixed income at investment management corporation BlackRock, says he believes Bitcoin will surpass gold as the primary store of value.
In a CNBC Squawk Box interview, Rieder explains why he believes Bitcoin and cryptocurrency at large arenât going anywhere.
âI think cryptocurrency is here to stay and I think it is durable and youâve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennialsâ receptivity to technology and cryptocurrency is real. Digital payments systems is real so I think Bitcoin is here to stay.â
The BlackRock executive highlights why he believes Bitcoin will overtake gold as the go-to store-of-wealth asset.
âDo I think it will take the place of gold to a large extent? Yeah, I do because itâs so much more functional then passing a bar of gold around.â
While Rieder sees a rosy future for the largest cryptocurrency, he admits that he does not include much BTC in his corporate and business portfolios.Â
Also, the BlackRock CIO says heâs unsure whether Bitcoin is worth the price it is trading at today, which is around $18,770.
Rieder is the latest high-profile Wall Street figure to see the potential of Bitcoin. Earlier this month, billionaire investor Stanley Druckenmiller revealed he owns Bitcoin and said that the flagship cryptocurrency has more upside potential than gold.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Current #bitcoin price action is nice, but we are waiting for a real jump (like the red arrows early 2013 and 2017). IMO that will be the start of the real bull market, and indeed phase5. January 2021? pic.twitter.com/orzwdCOcvP
â PlanB (@100trillionUSD) November 22, 2020
https://www.express.co.uk/finance/city/1363025/Bitcoin-price-news-update-latest-rocketing-surging-big-institution-banks-buy-directly-mine
https://cointelegraph.com/news/bitcoin-price-dips-below-18k-time-to-watch-these-whale-cluster-support-zones
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