Max Keiser Predicts Bitcoin to Reach $220,000

The television host and founder of Heisenberg Capital, Max Keiser, expects Bitcoin to rise 500% in the second half of 2021, reaching $220,000. He said this on Scott Melker’s The Wolf Of All Streets podcast.

In his view, fuelling the strength of the leading cryptocurrency is inflation of the U.S. dollar. Keiser noted that, in the context of the Federal Reserve’s policy, large corporations and companies are increasingly investing in digital assets.

“My target price [Bitcoin] for 2021 remains $220,000. That is an aggressive price target, driven by the serious problems with the U.S. dollar,” Keiser said.

Keiser also stressed that Bitcoin’s price is not as important as the hash rate and other fundamental indicators of the network. In his words, it merely reflects the state of the dollar: when the price of the leading cryptocurrency climbs, the dollar weakens, and vice versa.

“I don’t look at the price; I watch the hash rate. That metric has been in a very predictable, sustained bull market for the last ten years,” he said.

One of the most significant events in the industry’s history, Keiser cited the purchase of MicroStrategy’s bitcoins for $1 billion. The television host believes these investments marked the starting point for broad corporate adoption of cryptocurrencies.

The expert also expects that by June 4, digital gold will set a new all-time high.

I’m still looking for #BTC to hit new ATH by June 4 pic.twitter.com/XIwfEhtzlK

— 🍊💊 Max Keiser (@maxkeiser) May 30, 2021

In the last 24 hours, Bitcoin rose by nearly 4%, according to CoinGecko. At the time of writing, the asset was trading near $37,000.

In August 2020, Keiser was able to forecast Bitcoin rising above $28,000.

Since 2012, the television host has asserted that digital gold would rise to $100,000. In February 2020, he increased the forecast to $400,000.

As Nassim Taleb, the philosopher and author of The Black Swan, described Bitcoin as a Ponzi scheme.