Max Keiser, host of the Keiser Report and a long-time bitcoin bull believes that capital flight from Asia will take the price of BTC to new highs.
Keiser, who also founded the early bitcoin investment firm Heisenberg Capital in 2013, explained that escalating tensions in Asia were behind bitcoin’s latest rally to $12,000. In a tweet published August 10, Keiser predicted that Asian investors would turn to crypto and digital assets as a vehicle for moving wealth out of the country.
According to Keiser, the capital flight out of Asian markets would utilize the “Bitcoin express,” and leverage the portability of crypto-assets over similar safe-haven vehicles such as gold.
Keiser’s comments followed on the heels of multiple reports of Chinese citizens attempting to leave the country with gold bullion, including one woman who was caught attempting to enter the U.S. with more than $38K in gold bars.
A Financial Times report on August 7 explained that Hong Kong’s wealthy were offloading gold from the city in the aftermath of China imposing a national security law in July 2020. According to Keiser, the world’s wealthiest will likely turn to bitcoin as a more convenient form of wealth storage and transfer.
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