Renowned monetary guru, entrepreneur, and bestselling creator of “Rich Dad Poor Dad,” Robert Kiyosaki, has as soon as once more made headlines together with his latest Twitter remarks on the significance of Bitcoin within the face of rising US debt.
As the US economic system continues to deteriorate and the nation’s debt ceiling discussions take middle stage, Kiyosaki emphasizes the urgency of securing one’s monetary future by investing in different belongings, together with the highest cryptocurrency Bitcoin.
The State Of The US Economy
Robert Kiyosaki begins by shedding gentle on the deteriorating state of the US economic system, expressing concern over the rising nationwide debt. With Congress at present discussing elevating the US debt ceiling to $31.4 trillion to keep away from blemish, Kiyosaki dismisses it as nothing greater than “kabuki theater.”
Drawing consideration to the dire monetary state of affairs, he asserts that the US is already bankrupt, citing unfunded liabilities, equivalent to Social Security, which surpass $250 trillion.
Furthermore, Kiyosaki highlights the scale of the monetary market’s “derivative assets,” amounting to hundreds of trillions of {dollars}. Against this backdrop, he presents his answer: investing in tangible belongings like gold, silver, and digital gold – Bitcoin.
The Bestselling creator of “Rich Dad Poor Dad” famous:
Politicians debating elevating $30 trillion US debt restrict unhealthy comedy, “kabuki theater.” Facts are: US [is] bankrupt. Unfunded liabilities [such] as Social Security are over $250 trillion. Financial market “derivative assets” [are] measured in quadrillions…hundreds of trillions. WTF. Buy G,S, BC.
Robert Kiyosaki has since been a vocal advocate for Bitcoin, emphasizing the highest crypto worth for a number of years. During the onset of the pandemic in 2020, because the US government printed trillions of dollars to stimulate the economic system, Kiyosaki voiced his considerations concerning the shortage of backing and the inflationary dangers related to fiat foreign money.
He famously referred to these newly printed {dollars} as “fake money,” warning of the implications of such actions. With over $6 trillion already printed in 2020 alone, Kiyosaki anticipates that the continuing printing spree will trigger Bitcoin’s value to surge to roughly $500,000 by 2025.
Bitcoin Downtrend Amid Buy Signal
Meanwhile, regardless of the purchase sign from Kiyosaki, Bitcoin has proven no uptick however as an alternative a steady decline. Over the previous 24 hours, Bitcoin has skilled a 1% decline, whereas the previous seven days have seen a dip of three.1%.
At the time of writing, the highest crypto at present trades at $26,412. Bitcoin’s buying and selling quantity has, nonetheless, surged previously 7 days indicating a potential short-term downward strain. The asset’s buying and selling quantity has spiked from a low of $15.3 billion final Thursday to a excessive of $17.6 billion previously 24 hours.
Furthermore, over the previous week, Bitcoin has recorded a lack of over $10 billion from its market capitalization down by practically 4%. The asset’s market cap has plunged from a excessive of $528 billion final Thursday to a cap low of $511 billion as of at this time.
Featured picture from Shutterstock, chart from TradingView.com
