Bitcoin Mining to Give Trillions to Iran and Venezuela While Western World Likely to Face Fatal Financial Crisis: Max Keiser

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Fri, 06/26/2020 - 08:05
Yuri Molchan
Bitcoin maximalist Max Keiser believes countries from the developed world who aren’t planning to join the ‘Bitcoin global hash war’ are in for a fatal financial crisis
Cover image via www.facebook.com
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Prominent investor and TV anchor on RT, Max Keiser, has taken to Twitter to share another pro-Bitcoin forecast with his audience, even though it also predicts negative consequences for some countries.

According to Keiser, developing countries that are entering Bitcoin through mining or adoption are likely to reap trillions while other players, rich in the present and the past, who lack gold and are ignoring Bitcoin, are in for a fatal financial crisis.

Little gold plus no Bitcoin equals fatal financial crisis

Bitcoin maximalist Max Keiser has tweeted that for some countries standing away from Bitcoin may have a negative outcome in the future. Mr. Keiser states that the UK and Canada have no plans to enter the 'Bitcoin Global Hash War', even though Canada does have BTC mining companies.

He mentions western countries that have little or no gold at all – the UK and Canada – and that do not intend to start mining Bitcoin en mass, potentially face a ‘fatal existential financial crisis’. BTC could compensate them for lack of XAU, Mr. Keiser implies.

On the other hand, Mr. Keiser tweets that there are countries, like Iran and Venezuela, that are welcoming Bitcoin and ‘stand to reap trillions’. He calls them 'first movers'.

Image via @maxkeiser

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Iran and Venezuela 'stand to reap trillions'

As reported by CoinDesk, at the start of May, Iran granted a license to iMiner – a major Turkish Bitcoin mining company, that is going to take advantage of Iranian low-cost power rates.

Earlier this year, Trump’s administration became concerned that cryptocurrencies allow Iran and similar countries to avoid economic sanctions imposed by the US.

According to CoinDesk, Iran holds a 4-percent share of the Bitcoin mining hashrate.

As for Venezuela, Bitcoin mining has also been approved there. BTC is a popular means of exchange, along with DASH.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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