Max Keiser Says That Gold Is Like Toilet Paper, It Will Run Out, And People Will Flock To Bitcoin

April 2, 2020 / by Crypto.IQ

Crypto influencer Max Keiser says that just like toilet paper, which disappeared from store shelves across the country amid the Coronavirus pandemic, gold will run out too due to people hoarding it, and at that point there will be a mad dash to buy up Bitcoin (BTC).

According to a Bloomberg report, physical gold supply is running out for several reasons. First and foremost, wealthy investors are converting their portfolios into physical gold in order to protect their money from economic weakness, in addition to protecting their money from fiat inflation due to trillions of dollars of money printing.

Simultaneously, it has become extremely difficult to transport gold due to border closures and most air traffic coming to a halt.

Further, gold refiners and miners are closing down due to the Coronavirus as well, so the rate of fresh gold supply has drastically decreased.

Considering all of this, physical gold is already becoming very difficult to obtain. On the other hand, Bitcoin (BTC) is available 24/7 and can be obtained instantly.

Therefore, Keiser expects safe haven investors to rush into Bitcoin (BTC) in the coming weeks and months, since there will be little to no physical gold left for safe haven investors to buy up.

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