500M People Will Declare Their Independence When Bitcoin Hits $200,000: Max Keiser

Max Keiser, the Bitcoin advisor to El Salvador, has made a bold Bitcoin prediction, one that he believes could disrupt the legacy financial system.

Bitcoin is closing in on $110,000 and a new all-time high, and bullish sentiment is returning to the cryptocurrency market. This comes after a brief drop to $105,000 on July 1, a move that many saw as another consolidatory move to grab liquidity.

Meanwhile, the FOMO around Bitcoin intensifies as institutions scramble for a share of the scarce asset, of which nearly 95% of its total supply has been mined and owned. With that in mind, Max Keiser, a Bitcoin maximalist and advisor to El Salvador President Nayib Bukele, has boldly predicted how BTC will disrupt the flawed financial system.

Bitcoin’s Gain: The US Dollar’s Doom?

In a July 2 tweet, Keiser highlighted that Bitcoin at $100,000 is already causing chaos. For context, Bitcoin reached a six-figure valuation for the first time last December, spurred by bullish momentum following US President Donald Trump’s win.

Since then, Bitcoin has reached new all-time highs multiple times, drawing the attention of nation-states and major corporations. Notably, a recent H1 analysis revealed a significant increase in the number of Bitcoin-holding public companies and a substantial inflow from US Bitcoin spot ETFs, indicating a clear desire for a share of the pioneering cryptocurrency.

Keiser stressed that this strong traction is happening at just a $100,000 Bitcoin price. When Bitcoin’s price unlocks new milestones, he assured that more harm will come to fiat currencies.

For instance, he noted that at $200,000, central banks and countries will start panicking as over 500 million people declare their independence. This suggests that several individuals would opt out of the centralized financial system for Bitcoin’s economy, widely known for its decentralization and “sound money” properties.

Furthermore, things become even more complicated for the traditional financial system when Bitcoin reaches $300,000. Keiser asserted the utter depletion of the US dollar, stating that the disintegration will see Bitcoin priced in gold instead of fiat.

Interestingly, he is not the first to forecast such depletion in fiat currency, particularly the US dollar. Top venture capitalist Tim Draper noted earlier that Bitcoin would be worth an infinite amount against the dollar.

Timeline for Bitcoin to $200,000 and $300,000

These price targets are popular expectations for Bitcoin, as several analysts anticipate the target in the near term. For instance, Standard Chartered reiterated yesterday that Bitcoin would reach $200,000 before the end of this year, highlighting macroeconomic tailwinds as major drivers.

The prediction aligns with outlooks from Bitwise, Robert Kiyosaki, and Bernstein, among others.

Furthermore, analyst Michael van de Poppe predicted that Bitcoin’s price could rally to a minimum of $300,000 this cycle and potentially reach as high as $600,000. Binance’s co-founder, Changpeng Zhao, also projected a price above $300,000 this cycle, asserting a rally to $500,000 or $1 million.

At the time of writing, BTC trades at $109,366, up 2.5% in the past 24 hours.