What Happened to $220K Bitcoin? Max Keiser Says No Damage Done, Reveals 2023 Forecast

"Sam Bankman-Fried ran out of runway, it's similar to Bernie Madoff and also the 2008 financial crisis," says Max Keiser of the Keiser Report, founder of Bitcoin Capital and Heisenberg Capital. "The regulators really have some answers that need to be filled in, this was the culmination of a multidecade nightmare," he tells Daniela Cambone in this edition of Powershift: Outlook 2023. "Regulators are clearly implicated, and the U.S. is a kleptocracy at this point," Keiser continues. He touts the garnered strength El Salvador has attained over the past year, arguing "the U.S. is on its way down, and El Salvador is on it's way up." Keiser claims there has been no damage done to the bitcoin network in the wake of the FTX crisis... "It never touched the network, the hash rate has never been higher." "The axis of power, the pendulum of power is swinging away from the U.S. dollar and fiat currencies, it's a new century," he concludes.

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