Bitcoin bull, Max Keiser believes rising global debt will see far greater capital flow into BTC than traditional haven assets like gold.
Smart Money Flowing into Bitcoin
Tweeting on Monday (July 8, 2019), Keiser identified the brewing global financial crisis with debt piled up to more than 400% of GDP. Back in June 2019, the World Bank forecasted global economic growth rate shrinking to 2.6%.
For Keiser, the current economic climate favors increased capital inflow into Bitcoin rather than gold or other haven assets. According to the bitcoin bull:
It takes 25 – 30x greater capital flow into Gold to move it 1% than Bitcoin. Bitcoin will move 25 -30x faster to the upside than Gold as banks implode.
New, global financial crisis (debt = 400% of global GDP), driving safe haven money into #Bitcoin and Gold.
It takes 25 – 30x greater capital flow into Gold to move it 1% than Bitcoin.
Bitcoin will move 25 -30x faster to the upside than Gold as banks implode.
— Max Keiser, tweet poet. (@maxkeiser) July 8, 2019
Bitcoin bulls believe the top-ranked cryptocurrency will serve as the de facto hedge against any uncertainties in the mainstream market. Also tweeting on Monday, Alex Krüger also pointed to the decoupling between BTC and the altcoin market showing the directional flow of money into the crypto scene favoring Bitcoin.
Notice the divergence in performance between bitcoin and altcoins.
This is how smart money flowing into crypto looks like.