Posted 7 months ago | by @devadmin
Wall Street expert investor Max Keiser stated he believes a supply shock will fuel Bitcoin’s sudden rise to $1 million, making it “almost impossible to buy bitcoin as price rockets higher.”
— Max Keiser (@maxkeiser) November 21, 2020
In an interview with Express.co.uk, the host of the Keiser Report and Orange Pill Max Keiser said he’s convinced institutions will find a way to purchase Bitcoin directly from miners and begin pushing out retail investors.
“The demand for Bitcoin is growing almost exponentially while supply is mathematically locked at 900 a day and in fact, in 2024, the supply gets cut in half again to 450 a day.
This is why I think institutions that are buying bitcoin will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1 million per coin… Meanwhile, Generation Z who bought lots of Bitcoin when it was under $100, will be the new global power elite. The world order is about to flip.”
Keiser expressed that high-profile investors such as Paul Tudor Jones, Stanley Druckenmiller, and Bill Miller are increasingly becoming bullish on BTC signaling what’s to come for the number one cryptocurrency.
Keiser has also highlighted in a tweet that PayPal’s new support for Bitcoin alone is more than the daily supply of BTC being mined. Which means if Paypal alone is sucking up the daily reward supply for BTC, there won’t be enough for institutional investors to buy, as a result, the price would surge due to supply versus demand.
— Max Keiser (@maxkeiser) November 22, 2020
Keiser further says daily demand for Bitcoin from top trading platforms appears to be at least 2,600 BTC, while the amount of daily supply from mining is locked at 900 BTC.
“This is amazing, the daily demand from these four is 2,600 bitcoin, but the daily supply from mining is only 900 bitcoins,” Keiser told Express.
Bitcoin has made history breaking its all-time market cap of $352 billion dollars, a larger market cap than JP Morgan.
Bitcoin is currently trading at [FIAT: $19,083.77] UP +3.6% in the last 24 hours according to Coingecko at the time of this report.