Wall Street veteran and Bitcoin firebrand Max Keiser says he believes Bitcoin will ignite a massive rally this year on the back of central banks’ loose monetary policies.
Two years ago, Keiser made an accurate forecast that Bitcoin would end 2020 trading at around $28,000.
In a new interview with Stansberry Research, Keiser says he expects Bitcoin to surge nearly 550% from its current price of $34,000 before this year expires.
“I’m going with $220,000 per Bitcoin as a 2021 target and that would bring us up to $4 trillion-dollar market valuation which I think is a good 2021 objective. We are going to catch up to gold. That would bring us up to not quite half gold’s valuation but getting close to gold’s valuation.
I think the catalyst is going to be, as I said, a major central bank failing plus the money printing is going to go absolutely Weimar Republic.”
Keiser is also predicting turmoil in the macroeconomy. He expects one of the major central banks to collapse in the year ahead.
“One of my predictions will be one of the major central banks in the world will collapse in 2021. They are highly leveraged…
These banks are leveraged 50, 60, 70 to one… One of them is going to collapse in 2021 and that will start an avalanche. Out [with] fiat money and paper money and the top beneficiary of that will be Bitcoin. That’s one of the catalysts for [Bitcoin’s] price appreciation in 2021.”