Bitcoin has been trading in a tight range for around two months now against the backdrop of an anemic global economy. Despite the monotony in the crypto markets in recent months, an outspoken bitcoin expert has revealed a catalyst for bitcoinâs next leap higher.
Max Keiser recently argued that the United States will spur a massive hash rate war against Iran and Venezuela that is likely to send BTC skyrocketing to $400,000.
A Sputnik Moment For The US Will Ignite A Hash War That Drives BTC To Six Figures
The United States is noticeably the only major nation with a very slow response to crypto/blockchain. While countries like China, Japan, Iran, and Venezuela are already developing their own sovereign digital currencies, the United States has remained rather quiet about any solid plans.
Thanks to economic instability, Iran and Venezuela have even taken a step further by exploring strategic bitcoin mining. In the most recent episode of the Keiser Report Show, Max Keiser posited that Iran currently controls 3% of the global bitcoin hash rate while Venezuela is well on its way to garnering 3-5% control.
It is only a matter of time before the United States realizes it has been slow to the bitcoin game and eventually joins the BTC mining space. What will follow is a hash rate war that will lead to an increase in the coinâs security and a face-melting bull rally to the $400,000-$500,000 range.
âIran has already got 3% of the global hash rate, so now I think Venezuela will get 3-5% pretty quickly. And then at some point, America will say, âWeâve got to enter the 21st-century space race of mining Bitcoin,â and then theyâll try to seek 20% of the hash rate, and then security goes up dramatically, and the price goes to $400,000, $500,000.â
âBitcoin Is The Mona Lisa Of The 21st Centuryâ
Keiser also spoke about how important a tool bitcoin is in fighting for the freedom of speech which governments worldwide are presently denying their citizens. With the COVID-19 crisis, governments are printing trillions of dollars out of thin air to avert deeper economic fallout. This has only helped the big corporations as the citizens are left to deal with inflation that will likely ensue.
According to Keiser, bitcoin is the only plausible way out to achieving individual sovereignty. He called the flagship cryptocurrency the Mona Lisa of the 21st century in that âit is self-aware, it is observing us through the quantum mechanical aspects of technology, and itâs channeling the eyes of God.â
Keiser explained further:
âSo this is God looking at us through the protocol and trying to figure out, âHow do we fix this human species because theyâve gone way off track due to central banking?ââ
