Max Keiser, a prominent Bitcoin advocate and advisor to El Salvador's President Nayib Bukele, has shared his opinion on Bitcoin's supremacy in the current financial system.
Drivers of Bitcoin's Market Leadership
Keiser states that Bitcoin is gradually displacing traditional assets such as stocks and bonds. He refers to this phenomenon as a 'paradigm shift' in finance that is already underway. Bitcoin is currently valued at $110,758, despite a slight reversal after a 2.53% increase.
Impact of Hashrate on Bitcoin's Price
Keiser also emphasized the importance of Bitcoin's hashrate as a key component in anticipating price movements. Presently, the hashrate has exceeded 900 EH/s. He noted that 'Hashrate precedes price' and considers miners as significant market influencers due to their substantial investments in the ecosystem.
Conclusion on Bitcoin's Future
Keiser believes that the sustainable growth of the hashrate and miners' confidence in Bitcoin confirm its long-term prospects. He concludes that Bitcoin is becoming not only a viable investment vehicle but also reshaping the status of traditional financial systems.
Keiser's statements underscore Bitcoin's potential as an asset in the evolving digital economy, a factor that cannot be overlooked in the changing financial landscape.
