Max Keiser believes that one of the G7 countries will begin mining bitcoin.

Max Keiser believes there will be a worldwide hashrate competition.

In a recent interview with Stansberry Research, American journalist Max Keiser believes that a G7 country mining Bitcoin could spark a new hashrate competition, comparing it to the space race that began in 1957 when the Soviet Union launched the Sputnik 1 satellite into earth orbit:

“I think once a country in the G7 starts to accumulate and mine Bitcoin, it will set off like a space race.”

According to Max Keiser, such a situation is a “100% guaranteed certainty.”

El Salvador, Central America’s smallest country, stated last year that it will establish a Bitcoin city at the base of the Conchaga volcano, whose geothermal energy would be utilized for mining. Other nations will not allow El Salvador’s mining business flourish unchecked, according to Keiser.

After falling owing to unrest in Kazakhstan, the Bitcoin hashrate recently launched a V-shaped rebound to new all-time highs.

Keiser called China’s move to prohibit Bitcoin mining “really stupid.”

Keiser believes the downturn is not “particularly concerning,” and maintains his $220,000 Bitcoin price projection.

The commentator was harsh on trading, noting that he doesn’t know a single wealthy technical analyst:

“I’d rather be a day early than a day late.”

Keiser believes Bitcoin will continue to rise in value versus the US dollar indefinitely.

In response to the Federal Reserve’s tapering, Keiser, a long-time opponent of the central bank, stated that tapering “a Ponzi scheme” was impossible. He also accused the administration of concealing inflation figures.

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