Heisenberg Capital Bets Big on Bitcoin, Angers Altcoin Supporters

A notable investment fund has recently claimed that Bitcoin might soon start a rally toward the $100,000 mark and finally put an end to other bloated altcoins on the market. The founders of Heisenberg Capital, one of the largest venture capital companies focusing on crypto investments, has once again shown their ‘Bitcoin maximalist’ attitude. The firm is convinced that a forthcoming Bitcoin (BTC) rally will drive the price of the currency to $100,000 and push out all other altcoins, resulting in their total extinction.

Long Live Bitcoin

Recently, Heisenberg founders Max Keiser and Stacey Herbert, outspoken Bitcoin advocates, published a controversial post on Twitter. They stated that “the market is rejecting everything, except BTC,” confirming the thesis that had been the sole driver behind their investment decisions since 2011. They believe that Bitcoin’s price and influence on the market will keep growing, while all other cryptocurrencies will become history.

We see the market rejecting everything, except BTC.

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This has been our dominant investing thesis since 2011. We’re doubling down on Bitcoin Maximalism with new capital. As BTC climbs toward our 2011 target of $100,000, we believe everything except BTC will die-off. — Heisenberg Capital (@HeisenbergCap) May 5, 2019

Last year’s ‘crypto winter’ indeed helped Bitcoin to regain its market share from many altcoins which proved to be overvalued and overhyped. A majority of these projects are now already gone and forgotten, while Bitcoin remains the current dominator at over 50 percent of the market capitalization.

Race To $100,000

The Heisenberg Capital founders confirmed their optimistic Bitcoin price target of $100,000 made by Keiser last December. According to Keiser, this bull rally might be driven by a supply shock. He references Bitcoin’s limited total supply of 21 million BTC which he feels will dramatically decrease its availability, leading to a gold rush of sorts. He also added that Bitcoin is perceived as a ‘risk-on asset,’ although this is not entirely true. When investors come to realize that BTC could become a digital form of gold, the currency will see massive capital inflows and help it to reach new all-time highs.

Any Dissenters?

However, many Twitter users don’t quite share this view. They laughed at Heisenberg’s bold statement, many commenting that it was akin to saying that every beverage but Coca-Cola will die off, or no other mineral except gold would exist. They were also quick to point out that Bitcoin wasn’t even among the top 10 performers during the 2017 rally. There’s really no need for all other altcoins to die in order to make room for BTC. There should and will always be more than just one cryptocurrency. After all, even Heisenberg itself has invested in several alternative blockchain projects. Do you believe that Bitcoin will rule while all altcoins will die out? Let us know your thoughts in the comments below!