Bitcoin will continue its domination of the crypto market, according to Max Keiser. Keiser is a renowned crypto-activist, former Wall Street broker, and the host of RT’s Keiser Report.
Keiser said in an interview on RT that despite all the bitcoin bashing from various bankers, the currency will grow from its current level of around 8,000 USD to 100,000 USD. He pointed out that bitcoin skeptics have written its obituary hundreds of time, to no avail. According to Keiser, bitcoin will just continue to grow because the US dollar is simply rubbish.
He gave an example from his own trading experience, saying “I remember when I bought Apple stock in the late 90’s when it was valued for less than 100m USD, Michael Dell publicly said that Apple should shut its doors and stop the embarrassment of being in business. Twenty years later, it’s approaching a 1 trillion USD market cap, and nobody talks about Michael Dell anymore.”
On the subject of altcoins, the former Wall Street trader said that the top 20 would likely survive the initial turbulence of the cryptocurrency market, while most others would eventually disappear.
I agree with Max that in about 20 years, when cryptocurrencies play a key role in the financial system, no one will be talking about today’s bitcoin skeptics.