Published
2 years ago on
August 12, 2021
Bitcoin maximalist Max Keiser is well known for his Bitcoin price predictions, as well as his dislike of most Altcoins. In a recent interview, Keiser was outspoken on his predictions for Bitcoin and discussed why he is not bearish on Ethereum.
Max Keiser expressed his views on the future of fiat currency and crypto in a recent interview with Kitco News. He stated;
“If you are going to price Bitcoin and fiat money, the price is infinity, because fiat money has no bottom, while Bitcoin has no ceiling. If you priced it in ounces of gold, that would be a more valid way to price it. I am not sure exactly what the exchange rate is for an ounce of gold is to Bitcoin. But whatever it is, you can multiply it by a hundred times and that’s where we are headed.”
As the host of a number of podcasts, including The Keiser Report and The Orange Pill, the Bitcoin maximalist has outlined several times why he does not like Ethereum. Despite the recent positive sentiment that surrounds Ethereum and its price surge over the last few weeks, Keiser does not buy into the Ethereum Flippening prediction that would see it overtake Bitcoin as the biggest cryptocurrency in the world.
“Ethereum is centralized garbage, its transactions are reversible as they have been many times in the past. It has a huge pre-mine that’s dropped onto the market, which is messing up price discovery. It’s got huge issues in terms of auditing. “Nobody knows how many Ethereum there are. Nobody in the world knows what the count is,”
He added that Ethereum, unlike Bitcoin, is centralized, and believes that it is easy to attack and in all likelihood will be attacked.
On the subject of altcoins, Keiser outlined two main reasons that would lead to altcoins all going to zero, namely because he views them as securities - “with the expectation of cash flow”, as well as the fact that they are centralized and easy to take down by regulatory bodies.
The recent DeFi hack of 600 million dollars over the weekend may add weight to Keiser’s views that altcoins are far too easy to attack. The attack saw the theft of over $600 million of combined amounts in $ETH (Ethereum), $BSC (Binance Smart Chain), and $MATIC (Polygon).
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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