Famend monetary guru, entrepreneur, and bestselling writer of “Wealthy 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.
Because 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 Financial system
Robert Kiyosaki begins by shedding gentle on the deteriorating state of the US economy, expressing concern over the rising nationwide debt. With Congress presently discussing elevating the US debt ceiling to $31.Four 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, resembling Social Safety, which surpass $250 trillion.
Moreover, Kiyosaki highlights the scale of the monetary market’s “by-product belongings,” amounting to hundreds of trillions of {dollars}. Towards this backdrop, he presents his answer: investing in tangible belongings like gold, silver, and digital gold – Bitcoin.
The Bestselling writer of “Wealthy Dad Poor Dad” famous:
Politicians debating elevating $30 trillion US debt restrict dangerous comedy, “kabuki theater.” Details are: US [is] bankrupt. Unfunded liabilities [such] as Social Safety are over $250 trillion. Monetary market “by-product belongings” [are] measured in quadrillions…hundreds of trillions. WTF. Purchase G,S, BC.
Robert Kiyosaki has since been a vocal advocate for Bitcoin, emphasizing the highest crypto value for a number of years. Throughout the onset of the pandemic in 2020, because the US government printed trillions of dollars to stimulate the economic system, Kiyosaki voiced his considerations relating to the dearth of backing and the inflationary dangers related to fiat forex.
He famously referred to those newly printed {dollars} as “faux cash,” warning of the implications of such actions. With over $6 trillion already printed in 2020 alone, Kiyosaki anticipates that the continued printing spree will trigger Bitcoin’s worth to surge to roughly $500,000 by 2025.
Bitcoin Downtrend Amid Purchase Sign
In the meantime, 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%.
On the time of writing, the highest crypto presently trades at $26,412. Bitcoin’s buying and selling quantity has, nevertheless, surged up to now 7 days indicating a doable short-term downward stress. The asset’s buying and selling quantity has spiked from a low of $15.three billion final Thursday to a excessive of $17.6 billion up to now 24 hours.
Moreover, over the previous week, Bitcoin has recorded a lack of over $10 billion from its market capitalization down by almost 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 in the present day.
Featured picture from Shutterstock, chart from TradingView.com
