Famous Bitcoin evangelist Max Keiser, former broker and current host of the “Orange Pill” podcast and Bitcoin advisor to El Salvador’s president, has taken to the Twitter/X social media network to make a loud call to the global cryptocurrency community about Bitcoin and the spot ETF that was approved recently.
He also shared his take on what pushed Bitcoin to new highs before the flagship cryptocurrency’s price began to decline.
“Full speed ahead!” Keiser says
The Bitcoiner stated that before the spot Bitcoin ETF was finally approved by the Securities and Exchange Commission, numerous Wall Street brokers and major banks began to block their customers from the opportunity to purchase spot Bitcoin exchange-traded funds.
This, Keiser believes, was a major trigger that pushed the Bitcoin price to the new highs, and then finally the approval issued by the SEC propelled it slightly above the $49,000 level.
He stated that the situation is developing in accordance with his earlier predictions, and “incumbents are not going peacefully into that good night.” Keiser ended his tweet with an encouraging call to the Bitcoin community – “Full speed ahead!”
Bitcoin price drops further
Within the last 24 hours, the price of the global leading digital currency has shown a further decline, falling by 4.70% but then managing to rise a little, with the overall drop now equal to 3.4%. Since last Thursday, when the spot ETF approval pushed the Bitcoin price above $49,000 and a sudden decline followed, Bitcoin lost almost 16% in total.
At the time of this writing, it is changing hands at $41,330. Max Keiser has been recently pushing on with his prediction that “$220,000 is still in play” for Bitcoin.
Other major Bitcoiners, Samson Mow and Gabor Gurbacs from VanEck (a spot Bitcoin ETF issuer), have been talking about the positive long-term impact of spot ETF approval on Bitcoin. Gurbacs reminded the community that BlackRock, Fidelity and other issuers have acquired 25x Bitcoin that El Salvador has in its treasury, about half of which BTC Tether holds and 39% of which MicroStrategy holds ($8 billion worth of BTC).
Gurbacs referred to the spot Bitcoin ETF is a “force of nature.” Mow said that the BTC price develops independently of ETFs anyway.