Bitcoin will eventually reach $400,000, RT host Max Keiser has declared, raising his price target for the first time since 2012.
Speaking on the controversial show Infowars on February 17, Keiser, who has been imploring viewers to buy bitcoin since it was worth just $1, told eccentric host Alex Jones that his original prediction that it would reach $100,000 was now far too conservative, Cointelegraph reported.
He told the show: “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.”
Keiser, host of RT’s The Keiser Report, was speaking as the Wuhan virus continued to overshadow global markets and bitcoin traded lower on the day at below $10,000.
Unfazed by short-term volatility, he said the largest cryptocurrency was “equally as attractive” at current levels as it was at the time of his original forecast.
“The good news… is that Bitcoin at $10,000 or $9,300 is equally as attractive as it was when it was $100,” he explained.
While he did not name a specific timeframe, 40x returns would make Keiser more bullish than the majority of even the best-known Bitcoin supporters. Even venture capitalist Tim Draper believes that, at least by 2024, BTC/USD should make it to a more modest $250,000.
John McAfee, who became infamous for pledging to ingest his own penis if Bitcoin did not crack $1 million by 2021, subsequently withdrew from his bet.
Bobby Lee, CEO of Bitcoin wallet Ballet, believes $500,000 is a likely price for 2028.
Meanwhile, one historically accurate technical indicator has calculated an average price of $100,000 for the period between 2021 and 2024.
Bitcoin is fire
Jones, whose show was blacklisted by almost all mainstream media platforms back in 2018, compared bitcoin to fire in the sense that it cannot be confiscated by big banks and governments. Hence, Satoshi Nakamoto, the creator of bitcoin, can be viewed as mythological hero Prometheus, who stole fire from the Greek gods and gave it to humanity, U.Today reported.
“It’s just like the power of fire not just being with the gods but being given to Prometheus,” he declared.
However, legendary gold bug Peter Schiff, one of bitcoin’s most vociferous critics, was, to say the least, unconvinced.
After watching the show, Schiff, who recently caused a stir on social media when he announced that he had accidentally lost access to bitcoin that had been gifted to him, tweeted: “Alex Jones has capitulated. After 10 years of watching the #Bitcoin bubble inflate, at $10,000 per coin he thinks now’s the time to urge his listeners to buy. This is how manias end. Greed overwhelms reason as people once too sensible to buy join the party just as it’s ending.”
Alex Jones has capitulated. After 10 years of watching the #Bitcoin bubble inflate, at $10,000 per coin he thinks now’s the time to urge his listeners to buy. This is how manias end. Greed overwhelms reason as people once too sensible to buy join the party just as it’s ending.
— Peter Schiff (@PeterSchiff) February 17, 2020