Bitcoin on the Rise: Max Keiser Predicts Everything Goes to Zero Against BTC

Max Keiser, a Bitcoin advocate and former financial journalist, believes that Bitcoin is the only asset that will not go to zero. He attributes Bitcoin's rise to the miners' risk-taking and price-insensitive nature. Keiser predicts a surge in Bitcoin's price, citing the recent 2.53% rise and the breaking out of Bitcoin hashrate above 900 EH/s.

Max Keiser, a prominent Bitcoin advocate and former financial journalist, recently shared his bullish outlook on Bitcoin. In a series of tweets, Keiser emphasized the unique position of Bitcoin as an asset that will not go to zero, attributing its rise to the risk-taking nature of miners and their price-insensitive behavior [1]. This perspective comes as Bitcoin has seen a recent surge, with a 2.53% rise over the past 24 hours, reversing to a 1.42% decline [1].

Keiser's tweets highlight the significance of the Bitcoin hashrate, which recently broke above 900 EH/s. He noted that miners, unlike Bitcoin buyers, are true risk-takers and provide the best signal for Bitcoin's price movement. This is because mining activities are largely impervious to price fluctuations, as miners are more focused on the long-term value of Bitcoin rather than short-term price movements [1].

Keiser's prediction of a Bitcoin price surge is based on the increasing hashrate and the miners' confidence in Bitcoin's future. The recent crackdown on crypto mining in Angola, coordinated by Interpol, serves as a reminder of the regulatory challenges faced by the industry. However, Keiser's focus remains on the fundamental aspects of Bitcoin, such as its decentralization and scarcity, which he believes will continue to drive its value [2].

The Angola crypto mining ban, effective April 2024, criminalized cryptocurrency mining to protect national power distribution. This ban led to the dismantling of 25 illegal mining centers and the seizure of equipment valued at over $37 million [2]. The operation, coordinated by Interpol, resulted in 1,209 arrests and the recovery of about $97–100 million across several African countries [2].

While the regulatory environment remains uncertain, Keiser's perspective on Bitcoin's long-term potential is supported by its unique properties. As Bitcoin continues to gain traction as a store of value and a medium of exchange, investors and financial professionals should closely monitor its price movements and the actions of regulators.

References:
[1] https://u.today/everything-goes-to-zero-against-bitcoin-as-btc-rises-max-keiser
[2] https://en.coinotag.com/angola-mining-ban-could-prompt-wider-crackdown-on-bitcoin-miners-after-interpol-angolan-seizures/