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Bitcoiner Max Keiser Boasts 20,000,000% Profit on His BTC Holdings

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Tue, 5/12/2023 - 9:33
Bitcoiner Max Keiser Boasts 20,000,000% Profit on His BTC Holdings
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Prominent Bitcoin supporter, trader and broker Max Keiser has taken to Twitter/X to boast an astonishing surge of profit in his Bitcoin bag.

Keiser stressed that he has been holding Bitcoin since 2011 as he saw the massive hidden potential of BTC to transform the world and started buying it three years after the first BTC block was generated and one year after Bitcoin creator Satoshi Nakamoto decided to disappear for the public.

Keiser tweeted that his is “up 20,000,000% since 2011” with his Bitcoin holdings. However, Keiser has never officially shared how much BTC he owns, following one of the basic security rules in the crypto space – not to boast of one’s holdings on social media. But it is obvious that like many early Bitcoin owners, Keiser owns quite a lot of it, and he has turned into a vocal Bitcoin maximalist since then.

The price of Bitcoin has so far increased 106% since 2020, and gold has risen 16%, reaching up to $42,000. Its rival physical gold has increased to hit the $2,130 level.

Keiser expects Bitcoin to hit $100,000 with “God candle”

On Monday, Keiser shared several tweets to state that he believes that his long-term Bitcoin price forecast of $220,000 “might seem aggressive” for some. However, “there’s a real chance we see a God candle of $100,000 in one tick,” he wrote in a tweet.

This expectation is based on the rumor that has been discussed on Reddit that the nation of Qatar intends to buy $500,000,000,000 worth of Bitcoin through Qatar Investment Authority: “The rumors are getting very loud on this. Their SWF is rumored to look to buy 1/2 trillion #BTC.”

In his usual manner, Keiser, being a Bitcoin maximalist, also took a jab at altcoins and gold, stating that both will “continue trending toward zero against Bitcoin forever.”

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Bitcoin surpasses Berkshire Hathaway by market cap

Over the weekend, both Bitcoin and physical gold demonstrated substantial price rises. Gold finally managed to surpass $2,130, and Bitcoin hit $42,000 earlier today. Still, venture capitalist and investor Anthony Pompliano (often he is referred to simply as “Pomp”) believes that this was rather triggered by the current state of fiat currencies than the virtues of Bitcoin and gold as assets.

Per Pompliano, the reasons for the Bitcoin and gold price surges can be found in global liquidity and currency debasement. Besides, market participants are expecting the Federal Reserve to resume loosening their monetary policy, implement quantitative easing and begin to cut down interest rates.

Even though Bitcoin has hit a major high this year, it is still trading roughly 40% below the all-time high reached in 2021; back then Bitcoin hit $69,000. However, by now, BTC has outperformed the investment fund led by legendary investment guru Warren Buffett – Berkshire Hathaway. Bitcoin’s market capitalization has surpassed that of Buffett’s company: $788 billion of Berkshire Hathaway compared to $813.5 billion amassed by Bitcoin by today.

Bitcoin holders not selling

This made the Bitcoin community even more confident that they are going in the right direction, considering the fact that Buffett remains a vocal Bitcoin critic, and so was his late right-hand man, billionaire Charlie Munger, who until his last day remained the vice president of Hathaway and died at 99 at the end of November.

Now, with all these factors, the army of long-term Bitcoin holders refuses to sell its BTC, thus, they are also trying to save their Bitcoin from being bought by financial institutions such as BlackRock and Fidelity, which filed for permission to launch Bitcoin spot ETFs earlier this year and expect to get their approvals as soon as January 2024. This is expected to give the BTC price a massive push and help it reach new highs.

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