While some have suggested bitcoin’s meteoric rise signals a potential cryptocurrency bubble, RT’s Max Keiser says fiat currencies like the US 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.” READ MORE
