Max Keizer: The current stagnant Bitcoin price is a heaven-sent opportunity for the poor, Buffett will eventually taste bitterness

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A Golden Opportunity for the Poor

Renowned Bitcoin supporter and host of the RT television show "Keiser Report," Max Keiser, recently stated that futures traders are deliberately suppressing the price of Bitcoin to provide institutional participants with more opportunities to accumulate. Keiser also mentioned that this presents a golden opportunity for the poor.

"The (temporary) price suppression of Bitcoin is God's way of making sure that 'retail float is bought out by institutions' before the price goes to $40,000, enabling the poor to accumulate Bitcoin."

The (temporary) #Bitcoin price suppression scheme is a godsend for poor people to stack sats *now* before retail liquidity dries up and the price vaults to gold-parity levels around $400,000

— Max Keiser: Bitcoin Pioneer 🇸🇻🌋🧡 (@maxkeiser) October 16, 2020

Furthermore, he has given a mid-term price target of $28,000 for Bitcoin. Once the cryptocurrency reaches this level, it is expected to bring about a significant shift in people's perception of assets. At the same time, selling pressure on Bitcoin will evaporate as governments and institutions will directly purchase Bitcoin from miners, cutting off the Bitcoin supply in the retail market.

Buffett and Similar Figures Will Taste Bitterness

As a staunch Bitcoin supporter, Max Keiser previously boldly predicted that Warren Buffett will regret not buying Bitcoin when the price surges to $50,000 and will start panic-buying Bitcoin. Keiser, like Buffett, who does not hold any Bitcoin, will find that their wealth does not appreciate in the coming years.

Buffett's dislike for cryptocurrencies is nothing new; he has referred to Bitcoin as "rat poison" on more than one occasion in the past. Even the most adept marketer in the crypto space, Justin Sun, could not change his mind over a meal, as Buffett still firmly believes that Bitcoin is worthless.

Although Buffett purchased a significant stake in a gold-producing mining company earlier this year and simultaneously shorted some of his holdings in major banks like JPMorgan Chase & Co and Wells Fargo & Co.

However, Keiser believes that while those who buy gold and silver are relatively less affected by unfavorable market conditions, the returns on gold will be far lower compared to holding 100% Bitcoin.