According to U.Today, Max Keiser, a prominent Bitcoin advocate and advisor to the president of El Salvador, has made a bold prediction about the future of Bitcoin. In a recent post on the X platform, Keiser criticized traditional asset holders, including those with luxury properties. He asserted that fiat money, stocks, and gold are no match for Bitcoin, stating that no one would trade these assets for Bitcoin. Keiser concluded, “Everything goes to zero against Bitcoin.”
Bitcoin's recent performance has been noteworthy. After trading near $65,000, it surged back above $67,000 and is currently trading at almost $68,000. This optimistic market sentiment follows a significant decline earlier in the week when Bitcoin's price dropped below $64,000, resulting in the liquidation of $300 million worth of the cryptocurrency. Despite concerns, the distribution of 95,000 bitcoins from Mt. Gox's insolvency did not negatively impact the market, with Bitcoin prices regaining stability.
The Bitcoin 2024 Conference in Nashville has sparked numerous debates about the future of Bitcoin and the broader crypto market. During his opening keynote, Michael Saylor projected that Bitcoin's price could rise to $13 million by 2045 in his base case scenario, requiring a 29% annual return and a market cap of $280 trillion. In a bullish scenario, Saylor suggested Bitcoin could reach $49 million, while a bearish case would see it at $3 million.
Financial analyst and Bitcoin skeptic Peter Schiff responded to Saylor's predictions in a series of posts. Schiff accused Saylor of seeking a government bailout for Bitcoin, claiming that Saylor wants the U.S. government to become the buyer of last resort, leaving American taxpayers as the ultimate bag holders in what he described as a Bitcoin pyramid scheme.
