Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

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23 Feb 2024

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MARKETS AND PRICES
by Kevin Helms
9 hours ago
14246

Max Keiser Warns of Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

Bitcoin proponent Max Keiser has warned of potential government seizure of bitcoin held in spot exchange-traded funds (ETFs). He additionally issued a stark warning about a looming 1987-style crash, while simultaneously predicting that the bitcoin’s price will surge past $500,000.

Max Keiser’s Crash and Bitcoin Seizure Warnings

Bitcoin advocate Max Keiser expressed concerns about spot bitcoin exchange-traded funds (ETFs) and a potential market crash while sharing a bold BTC price prediction on social media platform X this week. He wrote on Wednesday:

1987-style crash coming. Bitcoin, the ultimate safe haven, will soar past $500,000. Gold will continue getting demonetized by bitcoin. BTC ETF’s (& domestic BTC miners) will get seized by U.S. government.

On Thursday, Keiser commented on New York Attorney General Letitia James’ potential move to seize assets from former U.S. President Donald Trump if he fails to pay the $355 million penalty. He explained that if the authorities can seize Trump’s assets, then they “can certainly seize” bitcoin held by spot bitcoin ETFs as well as “commandeer U.S. BTC miners.” He then advised investors to self-custody their bitcoin or they may lose them.

Governments around the world regularly seize bitcoin held on centralized crypto exchanges, with the U.S. government being one of the top confiscators, often as part of criminal investigations. Several other countries have also been active in seizing cryptocurrencies, as evidenced by the U.K. police‘s recent disclosure of a 61,000 BTC seizure from a major Chinese investment fraud and German authorities‘ January report of a 50,000 BTC seizure.
Meanwhile, spot bitcoin ETFs have hit record trading volumes since they launched in early January. Microstrategy’s executive chairman, Michael Saylor, said last week that bitcoin has become “the world’s most popular investment asset.” Coinbase is the custody of eight out of 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC). “What’s even more important is that every institution is now starting to hold crypto, the asset class will be a standard part of every diversified portfolio,” Coinbase CEO Brian Armstrong said last week.
Many investors believe the combined factors of growing demand for spot bitcoin ETFs and the approaching Bitcoin halving will significantly boost BTC’s price. Fundstrat’s head of research foresees bitcoin hitting $150K this year. He calls BTC “sound money.” Rich Dad Poor Dad author Robert Kiyosaki expects bitcoin’s price to reach $100K by June this year.
What do you think about the warnings and predictions by Max Keiser? Let us know in the comments section below.

TAGS IN THIS STORY

Bitcoin Price Predictions, Bitcoin seizure, bitcoin warnings, Crypto, crypto celebrities, Cryptocurrency, Max Keiser, spot bitcoin ETFs, spot crypto ETFs

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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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