Max Kaiser, financial analyst, trader, Keiser Report host and big Bitcoin fan, once again said that Bitcoin will surpass all other assets on the planet in a relatively short term. The host believes that companies wishing to enter the industry will stimulate price increases, as they accumulate the necessary reserves of bitcoins to offer futures and other financial products that arise around a developing asset class:
“They are going to bring it to a much higher price before launching these futures products, then you will see volatility, but of a much higher level, and then the game will become more interesting <…> as soon as the CME gives the green light to futures <…> they will have to have large supplies at hand so that they can play games that they like. They must buy it Bitcoin! ”
When Kaiser was asked if he could recommend investing in an asset that already had such impressive price indicators, he simply said that he could easily give such a recommendation, since he believed that bitcoin would skyrocket. He gave a forecast of more than 10 times the current price level in the “medium term”.
Kaiser once again surprised the audience and unexpectedly agreed with the assessment of bitcoin as a financial technology from the recognized billionaire investor Warren Buffett. The host said that bitcoin was indeed rat poison, but Buffett himself was a rat.
“He [Bitcoin] will still be ahead of stocks, bonds, gold, he will be ahead of everything. He will surpass Warren Buffett. Do you know that Warren Buffett successfully compared bitcoin with rat poison? You know what? Warren is the rat! And Jamie Dimon is a rat! ”
When asked how he copes with the volatility of bitcoin, Kaiser answered without hesitation:
“I amassing amazing bonfires of fiat money in my living room, burning them and frying marshmallows on them.”
The presenter also expressed the opinion that the technical documentation of Bitcoin is misleading to users, as it relates Bitcoin to “digital cash”. However, in order for Bitcoins to become digital money, they must be widely used as a “messaging application” (transfer of financial messages about value), and then as a means of saving. Only then will he be able to find use as a significant medium of exchange along with fiat money.