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Prominent Bitcoin supporter Max Keiser has taken to Twitter to comment on the recent collapse of the First Republican Bank.
This was not the first large US bank that has gone down recently and was bailed out by the government or bought by larger banks. The latter happened with the First Republican Bank – its assets were acquired by JP Morgan banking giant.
Prior to that Signature Bank, Silicon Valley Bank, Silvergate Bank and several more saw their shares plunge and were then closed down. Now, Max Keiser has commented on his video from a 2022 interview, where he stated that all fiat currencies are going to zero.
He repeated it now, saying that the world of fiat money is disintegrating and “it’s all going zero against Bitcoin”. Keiser believes that banks in the US are now technically insolvent and “so is the Fed”.
He recommends his followers to “get some BTC asap”.
The fiat money world is disintegrating as I predicted. It’s all going to zero against #Bitcoin
— Max Keiser (@maxkeiser) May 4, 2023
Every bank in America is technically insolvent. So is the Fed. And so is the government.
America will soon be remembered as, “the building 7 of countries”
Get some #BTC ASAP https://t.co/7CdnGLojda
Prominent crypto analyst Michael van de Poppe also believes that the fact of bank failing now is bullish for the flagship digital currency. In a recent tweet, he opined that should Bitcoin manage to break above the $29,200 level may trigger it to reach new highs.
So far, the analyst says, BTC is stuck between the $28,300 zone and $29,150.
At the time of this writing, Bitcoin is changing hands at $28,894 after a 2.26% rise over the past 24 hours, according to CoinMarketCap data.
#Bitcoin is pretty much stuck in between. Bulls are happy, bears are happy and finding arguments.
— Michaël van de Poppe (@CryptoMichNL) May 4, 2023
I would say that a break above $29.2K and definite confirmation through a retest, that' my trigger for new highs.
Banks failing, how hard it may sound, is actually bullish for… pic.twitter.com/hu4vWqQxZa