Altcoins, Bitcoin (BTC), Cryptocurrency, News

Robert Kiyosaki Supports Crypto Investment As US Dollar May Depreciate Soon

Robert Kiyosaki, an entrepreneur and writer of the famous bestseller “Rich Dad Poor Dad,” has resurfaced with his newest predictions about the fall of the United States Dollar and proposes for the public to acquire certain digital currencies to safeguard their money.

Kiyosaki posted a tweet on the 28th of March that ” the country’s debt is poised to explode,” As a result, the currency is “on the verge of collapsing.”

As stated by the famous author, President Biden is to blame for the hyperinflation. He has encouraged investors to store extra silver, gold, silver, Solana, Bitcoin, and Ethereum should world war three break out.

Kiyosaki Cautions About The World’s Greatest Inflation

Furthermore, Kiyosaki has continuously preached of the approaching downfall of the American dollar, claiming how we are riding in the greatest inflation in existence, with a “fall and recession on the horizon” as phony inflation rises.

Considering his cryptocurrency-related statements, Kiyosaki cautioned earlier in March about cryptocurrency. He stated that when the present administration creates a “Fed cryptocurrency,” it would seize all digital currencies.

He demonstrated how cryptocurrency’s decentralized nature placed it at the crossroads of macroeconomics and technology. He stated:

“They’re attempting to consolidate power over everything. Thus, I favor BTC and particularly blockchain since it is a decentralized network and not under the control of the government. It is the public’s money. “Silver and Gold are the money of God,” he noted.

According to the entrepreneur, the Russia-Ukraine crisis has facilitated the rise of cryptocurrency as a place of refuge. BTC has risen by over 35% since Putin attacked Ukraine, according to Finbold on the 28th of March. This shows that digital currency has enormous potential.

Several market analysts were curious about how BTC would fare as a safe harbor currency. It achieved a three-month high, erasing all of its losses in 2022, while ETH also recently injected over $30 billion in its market capitalization. 

Investors Capitalizing On The Rise Of Bitcoin 

At the start of the year, the crypto community was uncertain of how the crypto market would fare since it began terribly with most currencies in the red region. During the Russia-Ukraine crisis, BTC, ETH, and other cryptos dropped, causing most traders to sell off their holdings to avoid a total loss.

However, the crypto market is booming now, with Bitcoin currently trading in the $47k region after surpassing the resistance level at $45k. Several investors are rushing back into the market to join the uptrend. Investment Firm MicroStrategy recently borrowed over $200 million to buy more BTC. The firm is the largest holder of BTC on the planet and has remained bullish on Bitcoin.

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