Former Wall Street trader and popular cryptocurrency strategist Max Keiser has revealed he believes bitcoin’s parabolic rally is helping investors escape a collapsing monetary system that is leading to the destruction of the value of fiat currencies due to quantitative easing and other stimulus measures.
In a Cambridge House International interview, first spotted by Daily Hodl, Keiser said he sees an avalanche of fiat currency being printed and entering the financial system causing damage to the global economy.
He likened the current situation for fiat currency holders as a “Niagara Falls of cash coming into the system,” and fiat users are “in a barrel and heading for the edge of the falls.” Per his words, the barrel has gone over the edge and is falling down, headed for rocks.
Keiser noted that it’s possible to stop the barrel from falling, hinting that nothing is impossible by pointing out the possibility of a flash freeze of the falls or helicopter rescue, but not the chance “is not absolute zero but it’s close.”
The strategist added investors still have the option to exit the collapsing monetary system and protect their wealth, and suggested bitcoin and the cryptocurrency space represent that option. He said:
We’ve got Bitcoin which is now on a parabolic move – people escaping the blazing fire that is the fiat money bonfire of nuts running the system.
The probability of the course reversing, he added, is “not absolutely zero because you never know. but it’s close to zero.” Keiser added BTC has the highest growth potential he has seen throughout his four-decade career in Wall Street.
Per his words, bitcoin’s price has no top because the U.S. dollar has no bottom. Going back 300 years in history, he noted “no fiat money has ever survived,” with every currency going to zero or losing most of its purchasing power.
Last month, as reported, Keiser predicted that the price of bitcoin will hit $200,000 this year through the continuation of its massive rally so far. The price target, he said, would see bitcoin’s market capitalization hit $4 trillion.
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