Renowned financial guru, entrepreneur, and bestselling author of โRich Dad Poor Dad,โ Robert Kiyosaki, has onceย more made headlines with his latest Twitter remarks on the importance of Bitcoinย (BTC) in the face of growing Unitedย States debt.
As the Unitedย States economy persistsย to deteriorate and the countryโs debt ceiling discussions take center stage, Kiyosaki emphasizes the urgency of securing oneโs financial future by investing in alternative assets, including the top digitalย currency Bitcoin.
The State Of The Unitedย States Economyย
Robert Kiyosaki begins by shedding light on the deteriorating state of the Unitedย States economy, expressing concern over the growing national debt. With Congress asย ofย now discussing raising the Unitedย States debt ceiling to $31.4 trillion to avoid blemish, Kiyosaki dismisses it as nothing greaterย than โkabuki theater.โ
Drawing attention to the dire financial situation, he claimsย that the Unitedย States isย indeed bankrupt, citing unfunded liabilities, such as Social Security, which surpass $250 trillion.
Furthermore, Kiyosaki outlines the size of the financial marketโs โderivative assets,โ amounting to thousands of trillions of dollars. Against this backdrop, he presents his solution: investing in tangible assets like gold, silver, and digital gold โ Bitcoin.
The Bestselling author of โRich Dad Poor Dadโ noted:
Politicians debating raising $30 trillion Unitedย States debt limit bad comedy, โkabuki theater.โ Facts are: Unitedย States [is] bankrupt. Unfunded liabilities [such] as Social Security are over $250 trillion. Financial market โderivative assetsโ [are] measured in quadrillionsโฆthousands of trillions. WTF. Buy G,S, BC.
Robert Kiyosaki has since been a vocal advocate for Bitcoin, emphasizing the top cryptocurrency value for manyย years. During the onset of the pandemic in 2020, as the Unitedย 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 โfake money,โ 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 Bitcoinโs price to surge to approximately $500,000 by 2025.
Bitcoinย (BTC) Downtrend Amid Buy Signal
Inย theย meantime, regardlessย of the buy signal from Kiyosaki, Bitcoinย (BTC) has shown no uptick but instead a continuous decline.ย Inย theย previous 24 hours, Bitcoinย (BTC) has experienced a 1 percent decline, while the past 7 days have seen a dip of 3.1%.
Atย theย timeย ofย publication, the top cryptocurrency asย ofย now trades at $26,412. Bitcoinโs volumeย ofย trading has, onย theย otherย hand, surged in the past 7 days indicating a possible short-term downward pressure. The assetโs volumeย ofย 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, inย theย previous week, Bitcoinย (BTC) has recorded a lossย ofย moreย than $10 Billion from its marketย cap down by nearly 4%. The assetโs marketย 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
