- Max Keiser reveals a staggering 20,000,000% increase in his Bitcoin investments since 2011, highlighting his confidence in the king cryptocurrency
- Bitcoin surpasses Berkshire Hathaway in market capitalization, strengthening the community’s resilience in the face of outside criticism.
In an announcement via X, prominent Bitcoin advocate, trader and broker Max Keiser revealed an impressive increase in profits from his Bitcoin portfolio. Keiser emphasized that he has held Bitcoin since 2011, recognizing its enormous potential to transform the world.
He began acquiring the cryptocurrency three years after the generation of the first Bitcoin block and a year after Bitcoin’s creator, Satoshi Nakamoto, decided to retire from the public arena.
The God Candle, a $100,000 uptick in #Bitcoin is in play.
It will shift the global axis of wealth and power in 1 tick. https://t.co/69Kxrp47Fa
— Max Keiser (@maxkeiser) December 4, 2023
In a tweet, Keiser stated that his Bitcoin investments have increased by “20,000,000% since 2011.“ Although he has not officially disclosed the amount of BTC he owns, Keiser follows one of the basic rules of security in the crypto space by not bragging about his holdings on social media. However, his strong support for Bitcoin has since grown, making him a vocal Bitcoin maximalist.
Bitcoin price has experienced a 106% increase since 2020, while gold has risen 16%, reaching $42,000. Its competitor, physical gold, has reached the $2,130 level. Keiser anticipates that Bitcoin will reach $100,000 with a “God’s candle.”
On Monday, he shared several tweets expressing that his long-term forecast of $220,000 for Bitcoin “might seem aggressive” to some. However,he stated that there is “a real possibility that we will see a $100,000 God candle in one fell swoop,” based on rumors circulating on Reddit about Qatar’ s intention to buy $500,000,000,000,000 in Bitcoin through the Qatar Investment Fund :
“The rumors are very strong on this. Rumor has it that their Sovereign Wealth Fund is looking to buy half a billion #BTC.”
In his characteristic style, Keiser, being a Bitcoin maximalist, also criticized altcoins and gold, stating that both of them
“will continue to trend towards zero versus Bitcoin forever.”
Bitcoin Overtakes Berkshire Hathaway in Market Capitalization
Over the recent weekend, both Bitcoin and the prized yellow metal experienced notable rises in their respective values. Gold finally managed to break through the $2,130 mark, while Bitcoin hit $42,000 in today’s trading.
However, Anthony Pompliano, the investor and venture capitalist known as “Pomp,” argues that this phenomenon is attributed more to the current fiat currency situation than to the inherent characteristics of Bitcoin and gold as assets.
In Pompliano’s perspective, the reasons driving the increases in Bitcoin and gold prices are rooted in global liquidity and currency depreciation. In addition, market participants are looking forward to the possible resumption of monetary policy easing by the Federal Reserve, the implementation of quantitative easing measures and the start of interest rate cuts.
Despitereaching a significant peak this year, Bitcoin still trades approximately 40% below its all-time high reached in 2021, when it hit $69,000. However, so far, Bitcoin’s market capitalization has surpassed that of the company led by legendary investment guru Warren Buffett, Berkshire Hathaway. While Berkshire Hathaway’s market capitalization is $788 billion, Bitcoin’s has reached $813.5 billion today.
This situation has strengthened the Bitcoin community’s confidence, especially considering that Buffett remains a vocal critic of Bitcoin, as did his late right-hand man, billionaire Charlie Munger, who until his last day remained a vice chairman of Hathaway and passed away at the age of 99 in late November.
With these factors in play, Bitcoin’s legion of long-term investors are refusing to sell their BTC, trying to prevent financial institutions like BlackRock and Fidelity from acquiring their Bitcoin. Both firms filed applications to launch Bitcoin ETFs earlier this year and expect to get approvals as early as January 2024, which is expected to significantly boost the price of BTC and drive it to new highs.
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