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Bitcoin could devour the whole financial world, RT's Max Keiser suspects
Bitcoin Crushing US Dollar and Governments Can Do Nothing to Stop It: Max Keiser
From Russia Today, Moscow
Monday, November 27, 2017
While some have suggested bitcoin's meteoric rise signals a potential cryptocurrency bubble, RT's Max Keiser says fiat currencies like the U.S. dollar are collapsing against it.
"I think we are seeing fiat currencies in a hyperinflationary collapse against bitcoin," he said, adding that we'll see a major price correction somewhere at the $25,000 per bitcoin level. "Up until that price is achieved, it looks like we'll see a pretty strong upward move."
On Monday the digital currency smashed another all-time high, trading above $9,700 on growing signs of mainstream adoption by institutional investors.
According to Keiser, there is a huge market for other cryptocurrencies but bitcoin has an entrenched network that is now growing exponentially. It is beyond the reach of any competition, of any nation-state, and any cooperation to defeat it, the host of "Keiser Report" said.
"Bitcoin is a perfect currency, something that is utterly changing the global finance and market and is putting banksters and the central banks out of business," which, according to Keiser, "should be applauded because they've been horribly bad actors. We need to get rid of them and let bitcoin transform our world."
He also suggested an interesting scenario that bitcoin could become "something of a financial black hole" with all cash that is currently invested in stocks and bonds moving into bitcoin. That will lead to a stock or bond market crash, or both, as "we see the price of bitcoin move into that $25,000 range."
"That's something that no central bank or country will be able to stop, and it's becoming a real scenario, a real threat." ...
... For the remainder of the report:
https://www.rt.com/business/411058-bitcoin-fiat-money-keiser/
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