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Bitcoin hitting $10 trillion market cap is “easily achievable”Raoul Pal — chief executive of Real Vision and a former Goldman Sachs executive — recently sat down with one of Bitcoin’s earliest public bulls, Max Keiser, to talk about the outlook for cryptocurrencies.
Responding to an inquiry from Keiser regarding Bitcoin’s potential to begin to rival gold, which has approximately a $9 trillion market capitalization.
“If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.”
A $10 trillion market capitalization corresponds with more than $500,000 per coin.
The timelines are acceleratingWhile Pal held the belief that Bitcoin could skyrocket to trillions long before the COVID-19 outbreak, the ongoing macroeconomic conditions are increasing the chances crypto performs well, he has suggested.
Per previous reports from CryptoSlate, he postulated in the April edition of his research newsletter “Global Macro Investor” that due to the economic and monetary fallout of the COVID-19 outbreak, there’s a genuine risk “of the failure of our very system of money” or at least a collapse of the “current financial architecture.”
Pal has specifically cited a potential deflationary spiral caused by the lack of spending, which he believes will cause the value of the U.S. dollar to shoot up while individuals, corporations, and governments will have to default on their record levels of debt.
Weekly Newsletter Sign Up. RSS. About Kitco News. Search News. Commentaries ... Max Keiser explains why only gold, silver and bitcoin can save you now . Kitco News Tuesday April 07, 2020 15:39. Kitco News. Share this article: During volatile market conditions, investors should be looking for assets that represent stores of value, like gold, silver, and bitcoin, this according to Max Keiser ... Max Keiser reviews Bitcoin prediction from $100,000 to $400,000 for the first time in eight years. Bitcoin has corrected massively from $6,500 in December 2019 to $10,500 (yearly high). Max Keiser. Source: RT Bitcoin’s Objective Is Domination. The growing demand for energy input only outlines Bitcoin’s “winner-take-all objective, baked into the Genesis Block, to completely destroy fiat and altcoin systems, by starving them of energy. We should count our lucky stars this is happening.” Keiser asserted that this makes the surging hash rate significantly more important ... Max Keiser Thinks So. In July 9th’s episode of the Keiser Report, Max said that all of Bitcoin’s competitors will “be eviscerated” in the future. “So, all these altcoin posers and government subsidy-welfare bums will be eviscerated by the one true bitcoin. It’s about time…” Keiser was referencing documents from the U.S. government showing that a number of cryptocurrency firms ... Max Keiser has been promoting bitcoin ever since it was traded for a single dollar because he believed, and still believes, that bitcoin is the only cryptocurrency to bet on.. Timothy Maxwell Keiser was born on January 23rd, 1960 in Westchester County, New York State, and is currently an established journalist, television host and film producer.
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