Perennial bitcoin bull and crypto commentator Max Keiser says a looming bitcoin “supply crisis” will force the price of BTC to a new all-time high.
Speaking in a recent interview with Take The Orange Pill, Keiser said bitcoin’s dwindling availability would force institutions to purchase the crypto-asset, driving the price in exponential leaps.
Keiser said the market for bitcoin transitioned from “fake volume to real volume” over the last couple of years as investors churned through the available supply. He called the end result “price discovery” and predicted it would lead to an influx of institutional investment.
He told the host, “Pretty soon what I think is going to happen is that the Michael Saylor type or a corporate type or an institution will come in with an order to buy $10 billion to $20 billion worth of Bitcoin and suddenly within a few trades, they’re going to be discovering there’s no supply at all and then suddenly the price will gap from $37,000 to $47,000 to $52,000.”
Keiser said crypto investors had been lulled into a false sense that “there is supply out there.” He claimed bitcoin’s price could move rapidly upward in the span of minutes due to the impact of large capital buys placed by institutions.
The Keiser Report host also predicted central banks would wane in power, leading to the creation of multiple economies.
He continued, “There’s going to be a Bitcoin economy in a Bitcoin world and a Bitcoin life and people living the Bitcoin life and there will be everybody else.”