Max Keiser, a well-known financial journalist and Bitcoin advisor to El Salvador’s President Nayib Bukele, has just dropped a bombshell prediction: the U.S. dollar could collapse within the next six months. Keiser’s warning comes as the U.S. national debt soars to unprecedented levels, recently hitting a staggering $35.27 trillion. This translates to an average debt of $104,568 per U.S. citizen. Is Bitcoin the safe haven you need?
US Dollar in Danger?
Keiser’s forecast was shared on X. He highlighted the alarming rate at which the national debt is growing, with a whopping trillion dollars added in just eight months. The main reason behind this rising debt is the U.S.’s involvement in various geopolitical events, which have led to significant financial commitments and the printing of billions of dollars.
However, Peter Schiff’s in response to the upcoming debt crisis suggests that traders are reacting to inflation data by pushing the dollar up and gold down, fearing that potential interest rate cuts might be jeopardized. However, Schiff argues that the Federal Reserve will proceed with rate cuts regardless of inflation because the real aim is to delay an impending debt crisis, not to control inflation.
Bitcoin as a Hedge Against Economic Instability
Keiser’s concerns are echoed by other financial experts, including Robert Kiyosaki, author of “Rich Dad Poor Dad.” Kiyosaki has pointed to the ballooning U.S. debt as a driving factor behind Bitcoin’s potential rise to $100,000, a milestone he believes could be reached as early as next year.
Pavel Durov’s Legal Troubles Impact TON
In addition to his warnings about the U.S. dollar, Max Keiser recently commented on the arrest of Pavel Durov, the founder of Telegram and the TON cryptocurrency. Durov was detained at a major French airport, facing charges including complicity in drug trafficking, fraud, and money laundering. He was released after posting a €5 million bail but is now required to report to the police twice a week.
The news of Durov’s arrest led to a sharp decline in TON’s value, dropping over 15%. Despite assurances from the TON team that the blockchain remains fully operational, the incident has raised concerns about the security of various cryptocurrencies.
Bitcoin’s Superiority Over Altcoins
Keiser seized the opportunity to emphasize his belief in Bitcoin’s superiority over other cryptocurrencies. He argued that Bitcoin, created by the anonymous Satoshi Nakamoto, remains the only truly secure digital asset. In contrast, Keiser warned that any of the 30,000 altcoins, including popular names like ADA, XRP, and ETH, could face similar challenges as TON and its founder.
Keiser’s remarks highlight the ongoing debate within the crypto community about the security and longevity of different digital assets, with Bitcoin maximalists like Keiser advocating for Bitcoin as the safest and most reliable option.
Source: https://coinpedia.org/news/max-keiser-predicts-u-s-dollars-fall-bitcoin-to-the-rescue/