The Bitcoin boom in 2020 is undoubtedly one for the history books. The year is turning out to be one where the pioneer cryptocurrency has shed off its underground image and has found its way to the portfolios of legendary investors, software companies, and even sovereign funds.Proponents are having a field day like never before. After all, it’s the start of the end of years of anti-Bitcoin government regulations, naysayers, and poor understanding of both Bitcoin and the broader crypto market (with advancements across stablecoins and DeFi apps).Max Keiser and Stacey Herbert are two such individuals. Together, the husband-wife team head Heisenberg Capital and are hosts of the Keiser Report on RT. Keiser’s background is in brokerage, banking, options trading, and financial technology innovation, while Stacey is an American television producer and writer, apart from her work at Heisenberg.
“So you have seen that all fiat currencies have hyperinflated against Bitcoin.”
Gold bugs, Bitcoin, and what Buffett gets wrongA major part of the talk with Fazel revolved around how Bitcoin skeptics have been continually wrong since its early days, and even more so as their stance does not change ever as Bitcoin comes so close to “replacing gold.”“So I think we’re seeing that in the market is that gold is flatlining against Bitcoin, and the industry is moving to Bitcoin, sovereigns are moving to Bitcoin, and corporations are moving to Bitcoin,” said Keiser, adding that such a move pegs the long-term value of each BTC at over $500,000.Meanwhile, he added that government bailouts had a huge hand to play in legendary fund manager Warren Buffett’s wealth advances in the past few decades. Buffett has famously downplayed Bitcoin and suggested (at multiple instances) that the entire market is a Ponzi scheme.“If you strip out the bailouts and his performance, he’s underperforming the money market fund for 30 years. I wouldn’t place any value on his opinion either,” said Kaiser about Buffett’s opinion on the crypto market.Stacy added in the regard:
“We’re at the end of the Fiat Dark Ages and the beginning of a new Fiat in a new Bitcoin renaissance in that he’s dumping all of his bank stocks like he’s held there for decades.”
She noted Buffett’s even dumping bank stocks, scaling back equity market positions, and investing big into Japanese conglomerates—all signs of a move away from the US dollar.What comes next for Bitcoin? How do academics, investors, and tech entrepreneurs embrace the new financial paradigm? And lastly, where is the Bitcoin market going ten years from now? Catch Keiser and Stacy discuss it all out in the latest Cryptonites videos, available for streaming in full below.
Subscribe to Cryptonites on YouTube
Stay up to date with Cryptonites on YouTube
