Bitcoin (BTC) firebrand Max Keiser says Bitcoin could ignite epic rallies even before its halving event slated in 2024.
In a new interview with Stansberry Research, the longtime Bitcoin bull says that he envisions BTC’s price rising for the next several decades.
“The direction for Bitcoin for 13 years has been up and it’ll be up for the next 20, 30, 40, 50 years, so that’s number one. That’s solved, the direction is up.”
While BTC’s price is about 75% down from its all-time high, Keiser points out that the leading blockchain by market cap’s hashrate is at record highs, signalling that Bitcoin is healthier than ever.
The hashrate indicates the total computing power being allocated to the Bitcoin network, with a higher hashrate suggesting an increasingly robust network that is more secure against an attacker.
Says Keiser,
“For all those folks out there who want to put [in] the research and do the work, they’ll see that the current price is an actual excellent entry point with unconfiscatable, uncensorable property that’s portable and obviously is going to do better than any fiat money out there.
And it’s superior to gold, in my opinion… I look at the strength of the network, [that is] the number I look at. I don’t look at the price so much, I look at the how the network is doing and how the hashrate is doing and [if] people are contributing capital to the network and that’s at all-time highs. So for me, Bitcoin’s at an all-time high today. [Its] price is a lagging indicator.”
Keiser highlights that Bitcoin could “absolutely” make massive moves in 2023, noting that “price catches up as it always does.”
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