Last Thursday an interview of Catalina Castro, Youtuber and crypto educator, with the popular Max Keiser was published on YouTube. The Keiser Report presenter commented on his prospects for Bitcoin and its relationship with gold.
The interview was posted on the Youtube ‚Tech channel with Catalina“ and was widely publicized on Twitter primarily targeting the Spanish-speaking community. It is important to note that although the interview is in English, it has Spanish subtitles.
Let’s see what Max Keiser has to offer the Bitcoin community.
BTC 2020-2021 outlook
Max Keiser, the American broadcaster behind the Keiser Report, is known in the crypto community for his broad support of Bitcoin. And, therefore, we would not expect his views to be out of line with that trend.
One of the most interesting elements to be rescued from the interview was his opinion on the relationship between gold and Bitcoin.
As we have previously reported in CryptoTrend, many analysts are predicting a possible ‚collapse of Fiat money‘. The reason, without intending to go too deep into it, lies in the measures that have been taken against COVID-19,
Max Keiser is one of those analysts and therefore mentions in the interview that he expects a rise in the valuation of gold over the next 6 months, marking a new high for the dollar. This event, emphasizes Keiser, will be a consequence of the ‚collapse of Fiat money‘.
Relationship between Bitcoin and gold
Katherine asks Max Keiser to explain what „hard money“ is, and Keiser emphasizes that it is „indestructible, scarce, desirable and maintains its value as a reserve.
So he explains that gold fits that description perfectly, but so does Bitcoin. However, he emphasizes that they do have differences: Bitcoin has added benefits!
Bitcoin is „digital, it’s portable, it’s divisible, it’s unconfiscable. It’s precisely this last feature that makes Crypto Investor so different from gold, that it’s easy to confiscate.
So, when Catalina asked Keiser for his prediction for Bitcoin in 2020 and 2021, Keiser emphasized that „Bitcoin, like gold, finds its value tied to other Fiat coins.
In this regard, Keiser exemplifies the case of the relationship between gold and the Argentine peso: When we see gold reach a new high in Argentine pesos, it does not mean that the value of gold has moved. What changed was that the valuation of the Argentine peso collapsed.
Therefore, it is not that „gold is rising against those currencies, it is that those currencies are collapsing against gold“.
In this sense, Keiser predicts that, with respect to the U.S. dollar, gold will reach a new high in the next 6 months. The prediction is based on the fact that the U.S. dollar has room to become weaker, which would cause gold and Bitcoin to start rising relative to Fiat money.
Consequently, Keiser claims that the US dollar is „basically dead“ and it is the US government that is keeping it alive for the time being.