The host of the financial news broadcast Keiser Report, Max Keiser, is increasing his already lofty Bitcoin price prediction. Specifically, Keiser is quadrupling his price guidance to a massive $400,000.
Keiser: “I’m raising my target for the first time in eight years to $400,000”
Keiser recently went on Alex Jones’ controversial news show Infowars to speak about the future of Bitcoin. During the February 17th segment, Jones and Keiser were talking about everything from Bitcoin, crypto adoption, and the coronavirus.
Most notably, however, Keiser said that he now believes Bitcoin will eventually reach a price of $400,000. Although Keiser is a notorious Bitcoin bull, who has long said Bitcoin will reach $100,000, he is now quadrupling his already lofty price prediction.
With that said, however, Keiser has consistently said Bitcoin could go to $100,000 for the past eight years. As such, this latest price prediction represents the first time Keiser is raising his prediction in nearly a decade:
“I am officially raising my target for Bitcoin – and I first made this prediction when it was $1, I said this could go to $100,000 – I’m raising my official target for the first time in eight years, I’m raising it to $400,000.”
“Bitcoin at $10,000 is equally as attractive as it was at $100”
Furthermore, Keiser also points out the fact that Jones, a notorious anti-establishment figure, went on to miss out on Bitcoin at $1. Nevertheless, Keiser also suggests that Bitcoin is still able of a massive price rally.
In fact, Keiser said that Bitcoin’s short-term price volatility is irrelevant. Rather, the current price of roughly $10,000 presents an opportunity for 4,000% gains if Bitcoin actually reaches $400,000.
“Now Bitcoin, you missed at a dollar, you missed it at ten dollars, you missed it at a hundred dollars, you missed it at a thousand dollars. The good news, Alex Jones, is that Bitcoin at $10,000 – or $9,300 – is equally attractive as it was at a hundred dollars.”
People do not need to know exactly how Bitcoin works
Moreover, Keiser also notes that nobody really “needs to know” how Bitcoin works anymore. Instead, he argues, the technology is already becoming so widespread that general adoption appears inevitable. In the segment, Keiser compares Bitcoin to cars:
“We’re beyond that phase now where people are asking how it works. Most things you deal with during the day you have no idea how they work. The cars are ultimately technologically driven; nobody knows how the technology in cars works it’s just accepted […] Now it [Bitcoin] works, and we accept it, and people are using it as a store of value.”
Bobby Lee predicts $500,000 Bitcoin
Although the suggestion of 40x gains could seem inconceivable, Keiser is not alone in making it. The well-known venture capitalist Tim Draper, for example, suggests that Bitcoin is on track for $250,000.
Moreover, Bobby Lee – the CEO of Bitcoin wallet firm Ballet – predicts that Bitcoin could surge to a price of $500,000. In fact, a recent interview saw Lee also extend his prediction to that Bitcoin will eventually reach $1,000,000.
The fact that such well-known crypto profiles are raising their predictions shouldn’t comes as too much of a surprise. Rather, the flurry of bullish indicators over the past few weeks have made many observers optimistic. Even so, however, it will be interesting to see whether Bitcoin can truly soar to $400,000.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.