My original bitcoin guru is Max Keiser. I first learned of it from him in his regular news channel talk show called The Keiser Report, back in 2017. I heard about it for some months before understanding it or taking bitcoin seriously enough to actually buy some. It was, of course, at the end of the bull market in late 2017 by then, so I made a few profits but knew none of the details so took no profit and saw the crash after the blow off top and then watched the bear market for a few years thereafter.
And now I know a bit more and feel prepared for this bull market. Max is an ex Wall St broker as well as an American, yet he openly points fingers at both of them for being villains of note in the financial world. So I listen to him regularly. Curiously he predicts an aggressive bitcoin ATH this year of over $200k.
Max explains it by saying that the dollar is about to fail badly, thanks to all the money printing by the Federal Reserve in USA. So one bitcoin is equal to one bitcoin, and we don’t measure it in dollars. The dollar is likely to crash under the hyper-inflation that comes from money printing. And bitcoin is the life raft financially.
Bitcoin can’t be gamed or rigged like the dollar can. You can’t print any more than 21 million bitcoin, nor can you print it any faster than 6.25 bitcoin per ten minute block. It’s written in the code. And the output is halved every four years, so it’s deflationary.
Meanwhile the dollar is inflationary especially since the Fed printed 25% of all dollars ever printed in history...in the past 12 months or so. So inflation in the USA is more than they are telling you. It’s around 12% or more in reality.
Also the dollar is backed by nothing more than men with guns. There is no gold backing and no manufacturing in USA. And you need to pay those men with guns so that they keep working for the government. But mathematically the USA cannot really keep printing enough fiat to pay the military at this rate. Most of the tax dollars collected by the government in USA goes to the military, and that is unsustainable.
So with the dollar about to crash, if not this year then soon, it looks like the only saving grace is bitcoin. Altcoins of course play a role but I’m keeping it simple. Bitcoin is the most secure as far as blockchain goes. There is no CEO and no one controls it. There is no staking to control governance. Bitcoin is a unique store of value that has never been hacked, as the hash rate shows. It has been running since day one in January 2009.
The USA financial system is inherently flawed and some may say it’s actually criminal, or at least a massive fraud imposed upon the American people. Your purchasing power of your fiat that you hold in the bank is being withered away by the day. Fiat currencies have always come and gone and the dollar is next. Bitcoin is unique and has never existed before, so we are at epic historic times.
The more that the money printer goes Brrrrr.... then the less your dollar is worth. You are losing value by the day if you accumulate dollars or any fiat. Either you accumulate commodities like gold and silver (despite them also being manipulated in price value) or you accumulate bitcoin as a store of value and protection of your wealth. Even real estate can crash and burn sometimes or might be confiscated. In my country of sunny South Africa, there are currently laws coming out of planned land reclamation with or without compensation. Communism is arriving here and your land can now be confiscated by the government. The time has come. And you may be next.
So I personally am a cryptocurrency maximalist, along with some metals on the side. All the rest mean very little or do not engender any faith. Times are changing and massive global collapse may be arriving. Communism is taking over USA (they already own Joe and Hunter) and much of the world this year, and will continue, so let’s hope miners continue mining bitcoin and the internet continues running. Those are our vulnerable points as bitcoin hodlers.
CBDCs and UBI will change our world in the next year or two...for the worse. Surveillance and dictatorships will control you via both of these financial tools soon. Bitcoin is decentralized and unconfiscatable. I place my faith in bitcoin and hodl on for the rest of this year and the second half of the bull market cycle. There are just a few more months left of the bull cycle until the blow off top, so accumulate while you can. I certainly do.