Financial expert and Bitcoin maximalist Max Keizer again supported Bitcoin. He also stated that he expects US stock markets to face a major crash. Keizer also mentioned the fact that investors are starting to move their funds from gold ETFs to spot Bitcoin exchange-traded funds. Previously, Michael Saylor also made a Bitcoin statement by rejecting gold.
“Another 1987-style collapse is coming”
Max Keizer said in his latest post that he expects stocks to be preparing for a “1987-style crash.” The famous financial expert made a warning in this direction. We know that historical day as “Black Monday”. That day, October 19, 1987, the stock markets crashed. The worldwide damage from this event reached 1.71 trillion dollars. Many people compared this unfortunate event to the Great Depression. The causes of the stock crash included overvalued stocks, rising interest rates, and U.S. trade and budget deficits.
As Bitcoin maximalists always do, Max Keizer said he expects Bitcoin, the world’s leading cryptocurrency, to emerge as the “ultimate safe haven” here. Keizer also quoted a post by economist Don Johnson referencing billionaire Stanley Freeman Druckenmiller’s explanation of the 1987 stock market crash.
Funds switching from Gold ETFs to Bitcoin ETFs!
Max Keizer also emphasized that funds are now starting to switch from gold-based ETFs to spot Bitcoin ETFs. Meanwhile, in the past hours, BTC price printed a major green candle rising to the $52,800 region. However, it subsequently declined to the $51,600 region.
On Monday, Bitcoiner Michael Saylor, founder of business intelligence giant MicroStrategy, doubled down on his bet on Bitcoin. Moreover, he rejected gold, which was considered a safe haven. Saylor noted that since August 2020, the world’s leading cryptocurrency has increased by more than 330% in total. He also noted that the price of gold fell by 1% during the same period.
B.itcoin ETF issuers make record purchases
cryptokoin.comAs you follow from , since January 11, when the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs, Wall Street companies that issue these ETFs have been purchasing large amounts of BTC on a daily basis. This is 12.4 times more than the amount of BTC miners mined in a day.
Today, eight of the 11 Bitcoin ETFs have raised nearly $14 billion in BTC. BlackRock, the world’s largest fund manager, purchased almost half of this total amount. BlackRock’s purchase amount so far is $6.23 billion worth of BTC.
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