Supporter of bitcoin Max Keiser has issued a warning about possible government confiscation of bitcoin stored in exchange-traded funds (ETFs). In addition, he foresaw a sharp decline similar to the one that occurred in 1987 and issued a dire warning that the price of bitcoin would surpass $500,000.
The Crash and Bitcoin Seizure Alerts from Max Keiser
This week, when making a daring price prediction for bitcoin on social networking site X, proponent of the cryptocurrency Max Keiser voiced worries about spot bitcoin exchange-traded funds (ETFs) and a possible market collapse. On Wednesday, he wrote:
Crash similar to 1987 is about to happen. The ultimate safe haven, Bitcoin, is expected to rocket above $500,000. Bitcoin will continue to demonetize gold. The US government will seize Bitcoin ETFs and US bitcoin miners.
Keiser made comments on Thursday regarding the possibility that, should former US President Donald Trump fail to pay the $355 million fine, New York Attorney General Letitia James will take action to seize his assets. He clarified that the government “can certainly seize” bitcoin owned by spot bitcoin ETFs and “commandeer U.S. BTC miners” if they are able to confiscate Trump’s assets. Then he warned investors that they might lose their bitcoin if they didn’t self-custody it.
Bitcoin kept on centralized cryptocurrency exchanges is frequently seized by governments worldwide, with the US government leading the pack in this regard. These seizures frequently occur as a result of ongoing criminal investigations. As shown by the U.K. police’s recent admission of a 61,000 BTC confiscation from a significant Chinese investment scheme and the German authorities’ January report of a 50,000 BTC seizure, a number of other nations have also been active in seizing cryptocurrencies.
Since their inception in early January, spot bitcoin exchange-traded funds (ETFs) have seen record trading volumes. According to Michael Saylor, executive chairman of Microstrategy, bitcoin has emerged as “the world’s most popular investment asset” last week. All eleven spot bitcoin exchange-traded funds (ETFs) authorized by the U.S. Securities and Exchange Commission (SEC) are held by Coinbase. Coinbase CEO Brian Armstrong stated last week, “What’s even more important is that every institution is starting to hold crypto, the asset class will be a standard part of every diversified portfolio.”
A lot of investors think that the impending Bitcoin halving, along with the increasing demand for spot bitcoin ETFs, will drive up the price of BTC. The head of research at Fundstrat predicts that bitcoin will reach $150K this year. BTC, in his words, is “sound money.” Robert Kiyosaki, the author of Rich Dad Poor Dad, predicts that bitcoin will hit $100,000 by June of this year.
What are your thoughts on Max Keiser’s cautions and prophecies? Tell us in the space provided for comments below.