Bitcoin Predicted to Surpass $500,000 Amid US Stock Market Crash

In a bold prediction, Max Keiser, a well-known advocate for Bitcoin, forecasts that the price of Bitcoin will surge past $500,000 in light of the massive collapse in the stock market. Keiser compares the looming collapse to the catastrophe of 1987, commonly referred to as Black Monday, where the Dow Jones Industrial Average plummeted by a record 22.6% in a single day. Keiser's assertion comes in response to reports indicating that 75% of capital is concentrated in the stocks of just 10% of leading American companies.

Keiser's statement about Bitcoin dethroning gold raises eyebrows, given that the process of demonetizing gold, characterized by the loss of its monetary functions, occurred in 1976, long before the advent of cryptocurrencies. Additionally, his forecast regarding the emigration of Americans shouldn't be taken too seriously, as Max serves as an advisor to Salvadoran President Nayib Bukele and vigorously promotes the Central American nation, which has legalized Bitcoin.

The historical data suggests that such a phenomenon, marking the onset of the Great Depression, the Dot-com Bubble, and the 2008 financial crisis, portends a monumental collapse of the stock market. Keiser's bullish stance on Bitcoin reflects growing confidence in the cryptocurrency as a safe haven asset amidst economic uncertainty.