Renowned business titan and author Robert Kiyosaki recently expressed his opinionsย on the significance of Bitcoinย (BTC) in relation to the mounting national debt of the United States. Kiyosaki draws attention to the deteriorating Unitedย States economy, growing national debt, and the ongoing debate in Congress about raising the debt limit to $31.4 trillion to avoid default.
Politicans debating raising $ 30 trillion US debt limit bad comedy, โkabuki theater.โ Facts are: US bankrupt. Unfunded liabilities as Social Security are over $250 trillion. Financial market โderivative assetsโ measured in quadrillionsโฆthousands of trillions. WTF. Buy G,S, BC.
— Robert Kiyosaki (@theRealKiyosaki) May 24, 2023
Kiyosakiโs Investment Perspective
Kiyosaki thinksย that the Unitedย States economy resembles a โkabuki theater,โ invoking the Japanese dance and drama form, and impliesย that the country is effectively bankrupt. He outlines the alarming unfunded Social Security commitments of over 250 trillion dollars and emphasizes the staggering value of โderivative assetsโ in the financial market, which amounts to thousands of trillions of dollars.ย
Likewise Read: Robert Kiyosakiโs Bold Response to the Deteriorating Worldwide Financial Climate โ Coinpedia Fintech News
In light of these concerns, Kiyosaki recommends diversifying assets to include gold, silver, and Bitcoin, often referred to as โdigital gold,โ as a safeguard against a potential financial collapse.
A Revised Forecast
Kiyosakiโs support for Bitcoinย (BTC) aligns with mainstream perspectives, as he has advocated for digitalย currency for years. Andย once the COVID-19 pandemic hit in 2020 and the Unitedย States Government injected trillions of dollars into the economy, Kiyosaki criticized the newly created money, referring to it as counterfeit since it was essentially manufactured out of thin air.ย
With the Unitedย States dollar (DXY) experiencing a decline, Kiyosakiโs assertions gain credibility. Atย theย beginning, he predicted that Bitcoinย (BTC) couldย accomplish $500,000 by 2025, but he thereafter adjusted his forecast to a more conservative estimate of $100,000, a figure that numerous investors still find reasonable.
Bitcoinย (BTC) Market Performance
Inย theย previous week, the Bitcoinย (BTC) price has witnessed a steady decline, dropping from $27,412 on Tuesday to $26,077, representing a loss of approximately 4.87%. Nonetheless, the digitalย currency has since experienced a partial recovery and is asย ofย now currentlyย worth $26,228. It is worth keepingย inย mindย that James Bullard, the president of the Federal Reserve Bank of St. Louis, recently expressed his expectation of two 25 basis points interest price hikes by the Federal Reserve in 2018. Historically, BTCโs value has tended to decrease whenever the Federal Reserve raises interest prices, both in theย present and previous years.
Mixed Predictions
Famous commodity trader Peter Brandt recently made a pessimistic prediction for Bitcoinย (BTC) accordingย to a flag pattern observed on a chart, indicating that the digitalย currency may continue to struggle in the ongoing bear market. Regardlessย of these mixed predictions, Robert Kiyosakiโs views on Bitcoinย (BTC) remain relevant and influential. In these tumultuous times, it isย crucialย to consider the assets that can withstand volatility of the market and provide stability.
