Renowned financial guru, entrepreneur, and bestselling author of “Rich Dad Poor Dad,” Robert Kiyosaki, has once more made headlines with his latest Twitter remarks on the importance of Bitcoin (BTC) in the face of growing United States debt.
As the United States economy persists to deteriorate and the country’s debt ceiling discussions take center stage, Kiyosaki emphasizes the urgency of securing one’s financial future by investing in alternative assets, including the top digital currency Bitcoin.
The State Of The United States Economy
Robert Kiyosaki begins by shedding light on the deteriorating state of the United States economy, expressing concern over the growing national debt. With Congress as of now discussing raising the United States debt ceiling to $31.4 trillion to avoid blemish, Kiyosaki dismisses it as nothing greater than “kabuki theater.”
Drawing attention to the dire financial situation, he claims that the United States is indeed bankrupt, citing unfunded liabilities, such as Social Security, which surpass $250 trillion.
Furthermore, Kiyosaki outlines the size of the financial market’s “derivative assets,” amounting to thousands of trillions of dollars. Against this backdrop, he presents his solution: investing in tangible assets like gold, silver, and digital gold – Bitcoin.
The Bestselling author of “Rich Dad Poor Dad” noted:
Politicians debating raising $30 trillion United States debt limit bad comedy, “kabuki theater.” Facts are: United States [is] bankrupt. Unfunded liabilities [such] as Social Security are over $250 trillion. Financial market “derivative assets” [are] measured in quadrillions…thousands of trillions. WTF. Buy G,S, BC.
Robert Kiyosaki has since been a vocal advocate for Bitcoin, emphasizing the top cryptocurrency value for many years. During the onset of the pandemic in 2020, as the United States Government printed trillions of dollars to stimulate the economy, Kiyosaki voiced his concerns regarding the lack of backing and the inflationary dangers associated with fiat currency.
He famously referred to these newly printed dollars as “fake money,” warning of the consequences of such actions. With over $6 trillion already printed in 2020 alone, Kiyosaki anticipates that the ongoing printing spree will cause Bitcoin’s price to surge to approximately $500,000 by 2025.
Bitcoin (BTC) Downtrend Amid Buy Signal
In the meantime, regardless of the buy signal from Kiyosaki, Bitcoin (BTC) has shown no uptick but instead a continuous decline. In the previous 24 hours, Bitcoin (BTC) has experienced a 1 percent decline, while the past 7 days have seen a dip of 3.1%.
At the time of publication, the top cryptocurrency as of now trades at $26,412. Bitcoin’s volume of trading has, on the other hand, surged in the past 7 days indicating a possible short-term downward pressure. The asset’s volume of trading has spiked from a low of $15.3 Billion last Thursday to a high of $17.6 Billion in the past 24 hours.
Furthermore, in the previous week, Bitcoin (BTC) has recorded a loss of more than $10 Billion from its market cap down by nearly 4%. The asset’s market capitalization has plunged from a high of $528 Billion last Thursday to a cap low of $511 Billion as of today.
Featured image from Shutterstock, chart from TradingView.com