Max Keiser in El Salvador: Bitcoin As Perfect Money Creates Confidence in Leaders like President Bukele

El Salvador continues to create history with its bitcoin adoption, with the latest initiative being the announcement of an entire city focused on the primary cryptocurrency.

The nation plans to put this plan in the works through mining-backed volcano bonds worth in total $1 billion. While this may sound groundbreaking and surprising to some, one person – Max Keiser – was actually the one to pitch the idea first months ago.

El Salvador’s Bitcoin Steps

It was June 2021 when the small Central American country shocked the world by announcing plans to adopt bitcoin as a legal tender. Somewhat expectedly, global organizations like the IMF, with which El Salvador was in discussions for a near $1 billion program, criticized President Nayib Bukele and his unorthodox approach.

Some locals also found issues with the proposed law and took it to the streets to protest against it. However, President Bukele and his administration didn’t back off, and bitcoin indeed became a legal currency within the nation as of early September 2021.

El Salvador started buying bitcoin, especially during some price dips, began mining it by using excess volcano power, and plans to utilize the proceeds from BTC’s appreciating price to build pet hospitals and schools.


While all of this might sound like a lot, keeping in mind that they have transpired in just a few months, the country took it a step further over the weekend by announcing a Bitcoin City.

As President Bukele explained it, the city will be circular and will “have everything,” from an airport and port to residential and commercial areas. There will be no tax, except for value-added tax (VAT).

The financing will come from $1 billion volcano-backed bonds, 50% of which the country will use to buy more BTC, and the remaining will go for local infrastructure and mining. After five years, the government will begin selling BTC gradually, which should increase the annual percentage yield for investors from 6.5% to somewhere in the low triple-digits, at least according to Blockstream’s Samson Mow.

Keiser’s Idea?

The idea of the volcano-backed bitcoin bonds is certainty a world-first, and it can trace its origins to a June Twitter post from the popular BTC proponent – Max Keiser.

Back when the country had just announced its initial intentions to legalize the cryptocurrency, the Keiser Report host wrote, “I’m sure Bitcoiners can arrange a $1 billion lending facility stop-gap for El Salvador,” so the country could stop relying on the IMF (said in other words, of course).

Now that this idea is about to become a reality, many cryptocurrency insiders and even President Bukele himself outlined Keiser and his contribution.

While explaining his vision, Keiser told CryptoPotato that since bitcoin operates as “perfect money,” which is “unconfiscatable, immutable, and uncensorable,” it creates confidence in leaders like President Bukele to “dream big.”

He described El Salvador as a “wildly energetic” country where the “surf, sun, jungle, and volcanoes create endless possibilities.”

“When you plug a visionary president’s dream into the cosmic power of volcanoes to bring the perfect money of Bitcoin to millions of fearless people – the future gets rewritten in the image of Bitcoin, and the future is relentlessly optimistic. Not just for El Salvador, but for the whole world.” – Keiser concluded.


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Michael Saylor and Max Keiser Explain the Benefits of Elon Musk Converting Tesla Shares to Bitcoin

Elon Musk has asked his millions of Twitter followers whether to sell 10% of his Tesla stock. The question is what to do with the proceeds, and bitcoin proponents, such as Michael Saylor and Max Keiser, have urged the world’s richest man to buy BTC.

Musk to Sell 10% of His Tesla Stock?

The CEO of the world’s largest EV maker took a rather unorthodox approach in regards to his financial future. He asked his multi-million fan base on Twitter whether he should sell 10% of his personal Tesla shares.

While many in the comments have speculated on what could be the real reason behind his contemplation, Musk argued that it’s because of the recent discussion about tax avoidance and unrealized gains.

Elon Musk Twitter Poll. Source: Twitter
Elon Musk Twitter Poll. Source: Twitter

With just a few hours left until the poll’s deadline (as of writing these lines), the majority of answers are in favor of Musk indeed selling 10% of his Tesla stock, which is estimated to be worth around $25 billion.

Moreover, Musk later added that he will “abide by the results of this poll, whichever way it goes.”


Saylor and Keiser: Buy Bitcoin

Regardless of personal opinions on Musk, he’s a polarizing figure that attracts attention whatever he does. And, such a post that can decide the faith of $25 billion definitely garnered people’s attention.

The propositions below the poll on what he should do with the funds if sold ranged wildly. One of the most liked ones, though, came from MicroStrategy’s CEO – Michael Saylor.

The prominent BTC bull, staying true to his nature, advised Musk to consider purchasing $25 billion in bitcoin and also convert Tesla’s entire balance sheet to the cryptocurrency. Saylor, whose company already owns more than $7 billion in BTC, believes this move would “deliver diversification, inflation protection, and more upside for all investors in a tax-efficient manner.”

CryptoPotato also reached out to Max Keiser, the host of Keiser TV and long-term bitcoin proponent, who has spoken against some of Musk’s decisions in regards to bitcoin in the past.

Keiser reiterated his belief that “you don’t change bitcoin, bitcoin changes you” and added that Musk has learned from his previous mistakes and “given up his dalliance with shitcoins” – referring to Musk’s love affair with Dogecoin.

Furthermore, Keiser added that Tesla’s CEO seems “ready to let Satoshi do to this decrepit, decayed, corrupt financial and political system what we have been unable to do ourselves: Pull the plug.”

Although the chances of Musk indeed buying BTC with all of his proceeds seem rather slim, to say the least, Keiser asserted that the billionaire could become the “new Dr. Kevorkian of finance” if he indeed does this.

“Let’s pray Elon follows up, sells his TSLA stock, moves the proceeds into bitcoin, and kicks off a global rout in these Potemkin stock and bond markets that are killing us with malfeasance, kleptocracy, and hyperinflation.” – Keiser noted.


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The Bitcoin Lifestyle Of Stacy Herbert And Max Keiser

Stacy Herbert met Max Keiser in a French internet café in 2003. To that point, her media career had been primarily spent behind the scenes as a script consultant and “development girl” in Hollywood and the stories Keiser was telling her about banking and finance, as well as the energy with which this former Manhattan-based standup comedian regaled her, inspired her to join forces with him.

“I’ve always been the intermediary between the audience and the talent, the movie stars, the TV stars, the comedic writers and stuff like that,” Herbert told Bitcoin Magazine. “Our conversations there were like, how to get the stories Max is telling me onto the screen, how to get it onto a podcast, back in 2003, before there were really podcasts.”

Since then, the pair has produced television content for the BBC and BBC World (a platform Herbert called “very oppressive,” but also the one that first brought her in front of the camera with Keiser), Al-Jazeera, the Iranian state-owned news network Press TV and Russian state-controlled network RT. This content has always pertained to the financial world, framing Wall Street banks as the antagonists and the system as rigged against the majority, but it wasn’t until Bitcoin came along that the pair found their protagonist, their “superhero,” as Herbert described it.

Bitcoin’s First Couple

In addition to working together, Herbert and Keiser are married. Anecdotally, I have rarely seen one without the other sharing a stage or close by. Keiser is certainly the more colorful character of the two (he was called “crypto Willy Wonka” by “Daily Show” host Trevor Noah after a manically-energetic appearance at Bitcoin 2021), while Herbert considers herself his “operating system” (she was the one to confirm our interview appointment and grab Keiser when it was scheduled to begin).

“I always think of our relationship as a gang of two,” Keiser told Bitcoin Magazine. “It’s a very small gang, there’s only two people in the gang, but that’s how we approach our work and our life. We’re out there traveling the world, pushing the Bitcoin maximalist message and we look out for each other, as gang members do, and we trust eachother like we’re in the gang. We have an oath that we took, called ‘marriage,’ like you find in a gang, and we love the gang lifestyle.”

Today, in addition to RT’s “The Keiser Report” and other projects, the couple produce the “Orange Pill Podcast,” which just reached its one-year anniversary and receives 500,000 to one million downloads and views per episode, according to Herbert. I spoke with them as they prepared for the Phoenix, AZ leg of their “F*ck Elon Tour,” live nights of Herbert interviewing Bitcoin thought leaders and Keiser performing standup routines in which he impersonates central bankers in skimpy clothing.

Since participating in the first-ever Bitcoin conference in 2011, Keiser has become Bitcoin’s most reliably-outrageous maximalist, someone who can raise the energy in a room like few others who have as much knowledge and commitment to what is ultimately an open-source software project.

“I’m just channeling the energy of the audience and the audience wants to release, the audience wants to have kind of a Bitcoin orgasm and I can feel it in the air,” Keiser explains of his live stage persona. “And I’m assisting in their, essentially in their coming, simultaneously with this massive Bitcoin orgasm. I’m just there to help that orgasm happen, so I can just feel it in the air and let it happen.”

Herbert said that her process is more research-focused and centered on juxtaposing international headlines with historical precedence, and she certainly seems to focus Keiser’s messages when they share a platform.

Between the two of them, it’s clear that their media products are impacting people around the globe. As Alex Gladstein recently reported for Bitcoin Magazine, the “Keiser Report” serves as a “Trojan horse of sorts, reaching a large number of Cubans and Venezuelans through state programming and onboarding them into the new Bitcoin economy.”

Living The Bitcoin Lifestyle

In many ways, the couple offer a living definition of the Bitcoin lifestyle — traveling the world, regularly talking about and actively trying to convert others to Bitcoin adoption, and essentially viewing every component of life through the lens of this transformative technology. Promoting that lifestyle appears to be the common thread through their podcast, broadcast work and live productions, and they’re optimistic about its power as a cultural force.

“We’re at a point where the Bitcoin lifestyle becomes more the dominant zeitgeist,” Keiser said. “We’ve lived through several periods of cultural revolution. I’ve been through a few, the internet and the ’90s was a cultural revolution… And then, going back to the ’60s, of course… I think Bitcoin is this next and best, final and ultimately the winner in terms of preserving that freedom revolution that we’ve experienced a few times before.”

With their unique combination of outrageous and informative content, delivery of anti-fiat messages on state-sponsored platforms, and reputation as broadcast journalists obsessed with Bitcoin memes, Herbert and Keiser seem to embody the current state of hyperbitcoinization — the process by which Bitcoin grows into the world’s value system. Some may foresee this process as one that ends with Bitcoiners holed up in fortified citadels as the fiat-based world around them crumbles. But Herbert sees the process involving adoption by the powers that be as the fiat world steadily declines and Bitcoin enables more egalitarianism.

“It’s going to be through orange pilling those powers because because hyperbitcoinization is happening right now, it’s in El Salvador, it’s in the ‘Orange Pill Podcast’ Telegram group,” she said. “You saw it at Bitcoin 2021, when somebody like Chamath [Palihapitiya] who’s a billionaire comes in and says, ‘Hey, I’m a billionaire, I know what I’m talking about, listen to me.’ And the plebs go ‘fuck you’ and he’s off the stage. That’s remarkable.”

Keiser, as always, was a bit more cosmic when discussing his vision for the Bitcoin future.

“Every block syncs up everything that’s ever happening in the past and gives us the possibility of there being a mysterious future, because you never know where the difficulty adjustment’s going to land,” he said. “So, everything before us is mysterious, everything behind us is completely on the blockchain and unchangeable. And that gives us the ability to exist in the ever-present now, the infinite now. And now we’re entering that gravity well, we’ve crossed over the Bitcoin singularity, we’re heading now to that point of the face of God, as I like to call it. We’re about to find out why we’re here and that’s incredibly interesting.”

It may not be certain exactly how hyperbitcoinization will continue to unfold. But as it does, you can count on Herbert and Keiser to lead the march, holding hands the whole way.


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After Bitcoin Dipped Below $30K: Is Bear Market Confirmed? Industry Experts Weigh In

With BTC’s price going through a severe correction this week, reaching a near six-month low, the question arisen within the community if we have officially entered a bear market.

Dumping to more than 50% south from its peak, which came just two months ago, certainly has some arguing that the bears are indeed in control. To find out more expert views on the matter, though, CryptoPotato reached out to some of the most prominent names in the industry.

Those include the host of Keiser Report – Max Keiser, Jason Deane – Bitcoin Analyst at Quantum Economics, CoinGecko’s Bobby Ong, and the renowned DJ turned crypto analyst – Scott Melker, better known with his Twitter handle – The Wolf Of All Streets.

Version One: Bear Market It Is

After the previous bull market in 2017/2018, bitcoin’s price started to fall quickly and saw a half of its value slashed in a few months. Fast-forward to the middle of 2021, and the situation is quite similar.

BTC peaked in mid-April at $65,000 before it started to decline in value gradually. FUD, initially propelled by Elon Musk and intensified by China, resulted in more vigorous movements that culminated (so far) days ago when the cryptocurrency fell to around $28,500 – the lowest price tag since January 2020.

The Co-Founder and COO of CoinGecko, Bobby Ong, believes this drop has officially marked the start of the 2021 bear market but raised questions about its longevity.

Bobby Ong. Source: CoinGecko

“Bitcoin trading at its current levels has already made the current market a bear one as it is down 50% from its ATH. The question now is how long and how deep the bear market will be.”

He outlined a few differences between the start of this bear market and the previous ones as “there is no blow-off top, and this has been a gradual decline over the past month. How long this bear market will last will be anyone’s guess as well.”

The Wolf Of All Streets supports Ong’s stance to some extent. He noted that a 50% retracement from the top means the asset is “not in a bull market” because “it’s not a healthy correction anymore.” But that’s only when zoomed-in on a smaller timeframe.

If one looks at a more macro scale, seeing that BTC is still up by more than 200% in less than a year, the most logical conclusion is that BTC is “absolutely” in a bull market.” As such, he believes “much higher prices are likely.”

Scott Melker

The Relationship Between Price and Hashrate

China has received most of the blame for the adverse price developments. The Asian Superpower took its negative stance on the industry a step further by going after BTC mining and ousting miners.

Being the country responsible for over 60% of the hash rate until that moment, its actions had an immediate impact on the metric, which went down by roughly 50% in a matter of a month.

Jason Deane, a Bitcoin Analyst at Quantum Economics, touched upon this topic and debunked the idea that BTC’s price and hash rate are actually correlated. His company doesn’t see this as the start of a bear market, as the correction was mostly fueled by sentiment and momentum instead of actual fundamentals.

“This is most likely the case here, with that momentum almost certainly sparked, among other things, by the widely held (and incorrect) belief that lower hash rate is a hard driver for lower prices. It is true that this is a period of adjustment, but the network continues to run perfectly and will continue to do so, just as it was designed to do.”

Furthermore, he believes China’s actions will make the Bitcoin network “far more decentralized than ever before, and this move is considered to be extremely positive in the medium to long term.” Interestingly, recent reports indicated that miners are relocating from China to other countries, like Kazakhstan and the US, which would indeed loosen the nation’s grip on the mining industry.

“Fundamentals remain intact. In our view, therefore, this is far more likely to be a period of market overreaction that will ultimately correct in due course.” – Deane concluded.

Not The Worst Correction

Max Keiser, who has been a permanent BTC bull for over a decade, reassured the masses that such retracements are somewhat expected for the asset. In fact, he has been through “15 major pullbacks” since 2011, and this one “is not as bad as several I have seen.”

He also attributed it to the migration of mining out of China, but “the miners will be up and running soon enough in new regions. And it’s a huge positive to be out of China, in my view.”

Max Keiser. Source; Yahoo
Max Keiser. Source; RT

Additionally, he believes there’re far more critical factors to consider when examining BTC’s actual value.

“If you are asking whether or not this pullback is a bear market, keep in mind that Bitcoin’s fundamental value proposition is not price-sensitive; it’s block-sensitive. As the price has pulled back, so has the difficulty adjustment ensuring that blocks keep coming right in schedule. So in effect, nothing has changed. Blocks keep coming no matter what the price is.

For those looking at price only, keep in mind this one important axiom: Fiat money, over time, has zero volatility and a guaranteed loss of purchasing power. Bitcoin, over time, has some volatility and guaranteed increase in purchasing power.”

Keiser also referred to BTC as “sound, unconfiscatable money separated from the state, and a perpetual bull market.”


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Max Keiser And Stacy Herbert To Host “F*ck Elon” Bitcoin Maximalist Event On July 8

Max Keiser and Stacy Herbert of the “Orange Pill Podcast” are hosting a Bitcoin maximalism party called “F*ck Elon” in Austin on July 8.

The hosts of the “Orange Pill Podcast,” Max Keiser and Stacy Herbert, will be hosting a night of live comedy, music and Bitcoin celebration called the “F*ck Elon Tour” on July 8 at the Spider House Ballroom in Austin, Texas.

The name of the event references Tesla CEO Elon Musk, whose electric vehicle company recently enabled bitcoin payments, only for it to disable that payment option with Musk publicly stating that he has concerns about Bitcoin’s impact on the environment. Keiser took the stage at the recent Bitcoin 2021 conference while decrying Musk, a moment that has gotten media attention and come to represent a philosophy central to Bitcoin: no single person, no matter how influential in their own spheres, is more vital than the network.

“Elon and other fiat billionaires need to learn that you don’t fix Bitcoin, Bitcoin fixes you,” said Herbert, according to a release shared with Bitcoin Magazine. “We’ve seen it all since bitcoin was $1. Fuck those working for the clampdown! Bitcoin is freedom. Bitcoin is relentless optimism.”

“Bitcoin is eating the world,” Keiser said, per the release. “It’s time to party.”

Keiser and Herbert are likely to present the high-energy brand of pro-Bitcoin, anti-central-banking discussion available on their podcast and the release indicated that the event would also feature special guests. Canadian DJ Stickybuds will be performing and there will be first come, first served barbeque available.

Bitcoin Magazine will be hosting a live stream of the show and giving away four tickets to the upcoming Bitcon 2022 conference to attendees.

Tickets for “F*ck Elon” are available here.

Disclaimer: Bitcoin Magazine is the media partner for the “F*ck Elon” event.


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Are These The 6 Richest People In The Crypto Industry ?

There’s a lot of money in the crypto industry, that much is for sure. And we’re at a stage in which there are projects that are advanced enough for their creators to have already reaped the benefits. And then, there’s Bitcoin. Early adopters and believers, extremely long-term hodlers, are sitting on a fortune. Who’s made the most money, though?

An extremely difficult question to answer. The pseudonymous nature of blockchain technology makes inquiries like this a tall order. There are wallets that nobody knows who they belong to and hold thousands of coins. There are billionaires that have announced investments, but nobody knows which wallets belong to them. Not everyone in the crypto industry is a public figure. Not everyone in the space wants attention.

Related Reading | Ethereum Foundation Vitalik Buterin Talks ETH Inflation Rate

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Taking that into account, the Coin Bureau YouTube channel launched an investigation and reached credible conclusions. If we agree that the list is for entertainment purposes and heavily western-focused, we can have fun with it. So, let’s do that.

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Who Are The Six Richest Persons In The Crypto Industry?

To make this fair, the Coin Bureau focused on people who hold most of their assets in cryptocurrencies. That makes people like Coinbase’s Brian Armstrong and MicroStrategy’s Michael Saylor ineligible, because most of their fortunes are tied to their companies. It also discards all the billionaires that have a small percentage of their fortunes in crypto.

So, now that the rules are clear, let’s get into it.

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6.- Tim Draper and Max Keiser

Tied at number five, two very different Bitcoin believers. 

Tim Draper: This venture capital investor made the purchase of a lifetime when he acquired all of the Bitcoin confiscated from the Silk Road dark web marketplace. “The US Marshall service auctioned off 30000 BTC which landed in Tim’s wallet for 19 million Dollars.” Those are now worth close to $1B. Draper is not part of the crypto industry, but, practicing diversification he also holds Bitcoin Cash, XRP, and Tezos. 

Max Keiser: This broadcaster and filmmaker is the reason many people around the world know about Bitcoin. An early believer, “In a 2013 episode of The Keyser Report, Max announced that he had become a Bitcoin millionaire.” As per Coin Bureau calculations, that means he held 25K BTC. Assuming he continued to buy, and bought a modest 5K more, his holdings are now worth $1B.

5.- Vitalik Buterin:

Ethereum’s co-founder starred in a Twitter public fight previously covered by NewsBTC. Vitalik’s Ethereum wallet address has been known since late 2018 when he shared it over Twitter in response to criticism over Ethereum’s pre-mine.” This key figure in the crypto industry now holds 334K ETH, which at today’s prices is approximately $1.5 B.

4.- The Winklevoss Broders

It’s public knowledge, the Winklevoss twins invested part of their Facebook settlement in a then-new idea. The story goes as follows, “While on Holyday in Ibiza in 2013, Tyler and Cameron learned about Bitcoin and subsequently decided to buy 1% of all the BTC in circulation.” With that, they founded the Gemini exchange, a key component of the crypto industry. Coin Bureau estimated that each twin holds “between 2-3 billion dollars in cryptocurrency, mostly Bitcoin.

3.- Chris Larsen

One of the biggest criticism that the crypto industry wields against Ripple is the incredible amounts of XRP that its founders and the organization hold. Well, “the third biggest crypto billionaire is Ripple co-founder Chris Larsen who holds anywhere between 5.2 and 7.8 billion XRP.” 

It’s worth noting that, “All XRP allocated to Ripple’s founders is subject to a vesting schedulle that will last untill 2026, assuming the SEC doesnt succed in its case against Ripple, in which case Chis’s XRP  will be unsellable by law.” It looks the other way so far, though. And the market seems to be supporting this turn of events.

2.- Sam Bankman-Fried

Did you know that FTX’s Sam Bankman-Fried was in talks with Binance’s CZ to fund an exchange together before any of the two made it big? True story. Well, Bankman-Fried is the “founder of Alameda Research and the FTX cryptocurrency exchange.

Alameda Research made more money than god in an arbitrage trade. They figured out there was a premium hidden in Bitcoin’s prices in Japan. They bought in the U.S., sold in Japan, and made history. And a fortune. After that, “The FTX derivatives exchange is Sam’s second endevour, and it’s become one of the most popular crypto exchanges since it was founded in 2019.

A key part of the crypto industry, through FTX he’s helped launch very successful crypto projects. Plus, they have their own coin that has appreciated over time. Coin Bureau says, “Sam’s exact cryptocurrency holdings are not known, I estimate them to total anywhere between 5 and 10 billion dollars.

BNBUSDT price chart for 06/17/2021 - TradingView

BNBUSDT price chart for 06/17/2021 - TradingView

BNB price chart on FTX | Source: BNB/USDT on

1.-  Changpeng Zhao

Even though CZ’s net worth is “listed at around 2 billion dollars,” Coin Bureau investigated and made some controversial assumptions. First of all, after attending a crypto conference, “CZ subsequently decided to sell his apartment in Shanghai and go all-in on Bitcoin. If my calculations are correct this banked him anywhere between 50 to 100 thousand BTC.

The Bureau uncovered some articles in which CZ said that he likes to hold his fortune in crypto-assets, so they assume that he’s still holding to that. Years later, when Binance launched their own coin, 40% of BNBs initial minting of 100 million was allocated to the founding team. Again, the Bureau assumes he still has them, “CZ’s BNB holdings alone could easy be over 10 Billion Dollars at today’s prices.”

Related Reading | Changpeng Zhao Makes Super Bullish Case for Binance Coin

And that’s it, that’s their list. Do you think they forgot anyone in the crypto industry? Aren’t there even bigger whales in China? Are all of these people small potatoes compared to Satoshi Nakamoto himself? Let’s just take the list as a starting point and build on it.

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Bitcoin 2021 Fireside: Michael Saylor And Max Keiser

The Bitcoin legend Max Keiser is joined by Michael Saylor, dubbed “Gigachad” by the pleb community, in this Bitcoin 2021 Fireside.

This conference session took place on day one of the Bitcoin 2021 conference in Miami on June 4 and 5. Make sure that you set a reminder for the Bitcoin 2021 day two YouTube live stream now. Experience the #Bitcoin2021 party from anywhere in the world by joining our conversation on Telegram, and be sure to subscribe to our newsletter to stay on top of the latest Bitcoin news and all the happenings at Bitcoin 2021.

Watch this Bitcoin 2021 fireside chat on YouTube.

In this extremely fun and wildly popular Bitcoin 2021 fireside chat, Michael Saylor and Max Keiser discussed various topics in relation to the bitcoin industry, and their expectations for the future. The two legends of the bitcoin community had much to say in regards to the current state of the space.

On the amazing impact Bitcoin will have on the world, Saylor said, “For the first time in history, we can grant property rights to seven billion people.”

In response to being questioned about his recent actions surrounding bitcoin’s energy consumption and mining councils, Saylor said, “I think bitcoin is an extraordinarily disruptive technology to the entire energy industry,” and that “bitcoin is the highest value use of renewable energy.”

Although the answer may not have been exactly what the crowd was hoping Saylor would comment, it did highlight his perspective on how bitcoin will impact the energy industry. 

Join the #Bitcoin2021 party from anywhere in the world by joining our conversation on Telegram. Plus, be sure to subscribe to our newsletter to stay on top of the latest Bitcoin news and all the happenings at Bitcoin 2021.


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Michael Saylor Bought Bitcoin on June 3 2020 After Realizing Owning Big Tech Stocks Doesn’t Work

During the ongoing Bitcoin 2021 conference, Michael Saylor spoke with long-time BTC proponent Max Keiser on why and how he started buying, the asset’s merits, and what cannot happen with it.

  • Saylor, who has purchased tens of thousands of bitcoins for himself and the company he runs – MicroStrategy – in the past year, outlined his primary reason why he started purchasing. He was first offered bitcoin in 2014 when he skipped because he thought investing in stocks of “big tech companies” will be sufficient.
  • Furthermore, he didn’t believe in inflation, but the 2020 developments after the COVID-19 pandemic changed his mind. Once realizing that inflation is coming following the excessive money printing from world governments, he started studying Bitcoin.
  • Shortly after, on June 3rd, 2020, he made his first personal purchase of BTC. Roughly two months later, MicroStrategy made its first multi-million dollar allocation, and many, many more followed.
  • Saylor also spoke about BTC’s investment merits, saying that it delivers about 200x higher ROI than assets like Apple and Google, while the returns are even larger compared to JPM, Bank of America, and other traditional organizations.
  • MicroStrategy’s CEO highlighted bitcoin’s benefits over such traditional companies by using the most recent example coming from AMC Entertainment.
  • The firm, whose stocks have skyrocketed this year in the so-called meme rally, raised over $1 billion through stock sales. According to Saylor, this is basically “creating money out of thin air.” Something that can’t happen with Bitcoin, which has a limited supply of 21 million coins ever to exist.
  • He also forecasted that eight billion people will eventually own mobile phones, on which they will have digital wallets containing one global digital currency – Bitcoin. Thus, they will have their basic human rights returned to them.


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Max Keiser: Buy Bitcoin to Help Your Family When the Global Economy Collapses (Exclusive Interview)

With the largest Bitcoin conference to date taking place in Miami, CryptoPotato had the chance to speak with one of the most prominent BTC proponents – Max Keiser. During the interview, the host of the Keiser report talked about the remarkable difference between the first Bitcoin conference in Prague ten years ago, price movements, crypto sentiment, and more.

What a Difference Ten Years Can Make

Keiser, who has been among the most well-known BTC bulls for over a decade, spoke about the general mood shortly before the start of the 2021 Bitcoin conference. He went back ten years to the first such event in Prague, which was “dominated by tech guys, coders, hackers – about 40 people were there.”

He compared it to now when official numbers say tens of thousands of people will be in attendance in Miami. Moreover, Keiser noted that even the recent price drops in the market, which drove the primary cryptocurrency from $65,000 to $30,000 in weeks, cannot change the positive vibes.

He referred to recent reports showing that mostly short-term holders dumped their coins during the crash while long-term investors, miners, and institutions kept accumulating. This only goes to show that “real players are here to stay.”

They won’t be deterred by FUD coming from Elon Musk, China, rumors, and more, Keiser added. Just the opposite, he believes that Bitcoin will ultimately prevail and keep attracting new people to itself.

Max Keiser. Source: RT
Max Keiser. Source: RT

Miami is Just the Start

Keiser spoke about the city of Miami and its pro-Bitcoin mayor, Francis Suarez. As reported, Suarez has displayed a highly positive approach towards BTC and even plans to turn the town he runs into a Bitcoin hub.

The host of the Keiser Report noted that more and more mayors, senators, and politicians will get involved in the following years. Thus, Miami will be the start of a new trend until it becomes a “federal mandate or law.”

He also outlined another city – Austin, Texas – which is “Bitcoin centric” as well.

Buy Bitcoin to Help People Later

While speaking about the retail investors that enter the BTC space when it goes into mainstream media, and its price has skyrocketed, Keiser said that long-term investors should not worry about them yet.

Furthermore, he argued that Bitcoin investors should not be concerned with those who have chosen to buy altcoins – shitcoins – rather than the largest digital asset.

Instead of thinking about them, though, BTC holders should be focused on accumulating more portions. Then, they will be able to help their friends and family survive once “the US dollar and the global economy has collapsed.” That’s why investors would “want to have as much Bitcoin as possible. That will be the only thing left.”

Focus on Hash Rate, not USD Price

On the question of what’s his price target, Keiser, who previously predicted a price tag of $220,000 by the end of the year, said that hodlers actually should focus more on how the hash rate grows in time.

The hash rate is the metric that shows the amount of computational power miners put in the network to validate transactions. The higher the hash rate goes, the more robust the blockchain is.

Aside from a few fluctuations, the metric has also been impressively increasing in the past several years to new all-time highs, showing that more and more miners prefer putting their devices to work on the BTC blockchain.

“Hash rate is much more consistently moving in a higher direction. In my view, it’s a lot more important metric because it shows to what extent Bitcoin is going into the traditional legacy system because it’s taking energy away from these other things.” – Keiser concluded.


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