$50,000 Immediate Target for Bitcoin, Max Keiser Explains Why

Max Keiser, vocal Bitcoin proponent and advisor to the president of El Salvador, Nayib Bukele, on Bitcoin adoption strategy, now expects Bitcoin to reach a particular target soon, after it was “delayed” due to certain circumstances.

“$50,000 is now immediate target”

In a recently published tweet, Bitcoiner and BTC maximalist Keiser commented on the recent consecutive Bitcoin sales made by Grayscale from its Bitcoin Trust (GBTC).

Over the past two days, the major crypto hedge fund has sold massive lumps of 15,986 BTC; 13,179 BTC and 10,872 BTC, evaluated at $1.618 billion in total. Commenting on that, Keiser tweeted that GBTC equilibrium has been achieved.

Keiser is positive that after the Securities and Exchange Commission gave the green light to the 11 companies to launch their spot Bitcoin ETFs for trading, the expected surge of Bitcoin to the $50,000 high was delayed “due to some Wall St. players blocking BTC ETF purchases.”

Keiser tweeted about it earlier in January, particularly naming the chief executive of Vanguard banking giant as the person who prevented the world’s flagship cryptocurrency from skyrocketing, with his ban on Bitcoin ETF purchases for clients.

GBTC equilibrium achieved.

$50,000 delayed – due to some Wall St. players blocking BTC ETF purchases – $50K is now an immediate target. 🎯 pic.twitter.com/fy1dsNkSAG

— Max Keiser (@maxkeiser) January 26, 2024

“New Bitcoin post halving epoch”

Overall, Keiser believes that Bitcoin’s new “post halving epoch” that will last from 2024 until 2028 will be “marked by BlackRock & Wall Street” spot Bitcoin exchange-traded funds.

The previous Bitcoin epoch was “owned” by Michael Saylor and his MicroStrategy company, which began buying BTC with its cash balance in August 2020 with the goal of accumulating 1% of Bitcoin’s circulating supply.

Active BTC addresses surge

Crypto analyst Ali Martinez has reported that there has been a significant surge in active Bitcoin wallets on the network; those are Bitcoin wallets that hold more than $1 million worth of BTC. He commented that this is an indicator of whales’ “growing participation and usage of $BTC.”

Still, despite that, small Bitcoin traders are exiting BTC, according to Santiment on-chain data agency, as the overall number of Bitcoin wallets holding approximately 1 BTC has been shrinking. Within the last four days, data shows, more than 487,000 such wallets have been liquidated, which signifies a capitulation of this class of cryptocurrency whales, and it could lead to a BTC price bounce.

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