Bitcoin Surge Due To Capital Flight In Asia: Max Keiser

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Max Keiser (Courtesy: Bitcoinist.Com)

Bitcoin has seen a remarkable surge in the past few weeks and Max Keiser believes that the surge is mainly due to capital flight out of Asia.

Apart from this, he also claimed that leaving that region with large amounts of physical gold on one’s hands is next to impossible.

The Bitcoin maximalist took to Twitter to make this statement as Bitcoin nears the $12k mark. It is currently on $11,976 after a two per cent growth in the past 24 hours.

#Bitcoin up as tensions rise in Asia Capital flight out of Asia taking the #Bitcoin express You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you (Something near impossible with Gold),” Max Keiser tweeted.

It can be understood that following the protest in Hong Kong, Fugitive Offenders amendment, have been objected and the amendment was passed by the government, many local citizens have started looking for hedges against a future that seems quite uncertain due to the political situation.

 According to Bloomberg, Hongkongers “are amassing foreign exchange and looking at avenues for emigration.”

Investment guru and popular author of books on financial literacy Robert Kiyosaki has assumed that the core reason behind the surge is the continuous printing of USD by the Fed.