Bitcoin guru Max Keiser believes the leading crypto “has achieved escape velocity from regulators.”
The flamboyant host of RT’s Keiser Report told Britian’s Express newspaper that that the surging crypto coming under increased scrutiny from newly appointed US Treasury Secretary Janet Yellen was nothing to worry about because she will be powerless to stop the digital juggernaut.
Her negative attitude toward crypto worries some investors, who fear that crippling regulations could be in the pipeline. However, Keiser assured, “There is literally nothing they can do to stop it that doesn’t require them to print more fiat money, which only makes the demand for bitcoin, and price, go higher.”
Keiser, who has been imploring his viewers to buy bitcoin since it was just $1, added, “We are already seeing defections. Regulators in various countries are defecting to bitcoin. It’s like the fall of the Soviet Union in 1991, except this time it’s the fall of the global central banks.
“Bitcoin is playing 4D chess, regulators are playing checkers.”
Higher inflation and increased amounts of monetary stimulus from the US Federal Reserve will only increase bitcoin’s attractiveness as a store of value, he told the paper.
Yellen, who was the Federal Reserve chair from 2014 to 2018, recently said she wants the US Congress to spend more, stating that “the economy needs the spending.”
Concerns about money printing-induced inflation have driven a growing number of institutions into bitcoin recently, fueling a massive price surge to over $28,000, nearly six times its price at the bottom of the crash in March.