Bitcoin (BTC) is an essential investment as the world faces a “major banking crisis”.popular author Robert Kiyosaki has warned.
In one Tweet from August 21 The author of “Rich Dad Poor Dad” told his followers it was no time to think about investing in safe havens.
“The big banking crisis is getting closer”
The reason, he said, was that Warren Buffett had decided to drop the bank’s shares.
“WHY BUFFET IS FROM THE BANKS. The banks are bankrupt. The big banking crisis is getting closer “wrote.
“Will the Federal Reserve and Treasury take over the banking system? Will ‘helicopter counterfeit’, the Fed and Treasury direct to the people preventing massive unrest? This is not the time to ‘think about it’.” How much gold, silver, bitcoin do you have? “
Kiyosaki is a well-known Bitcoin supporterwho frequently advises the public to buy and actively worries about the downward trend in fiat currency.
The coronavirus crisis has only intensified their call to get out of dependence on fiat money, in line with various Bitcoin proponents. who fear that the reactions of the governments to the coronavirus have almost completely condemned the inflated paper money.
In the time since March When macroeconomic assets collapsed in droves, both Bitcoin and precious metals saw huge gainsdriven by the US dollar currency index, which hit its lowest level in two years.
Chart of the US dollar index since March. Source: TradingView
The dollar’s weakness against the stock market’s worrying highs
In August there were new concerns about the state of the world economy. In the USA, The Federal Reserve’s balance sheet, which had previously fallen below $ 7 trillion, is now back above that level, a sign of continued central bank intervention in traditional markets.
The SP 500 hit an all-time high this week, despite the uncertainty associated with coronavirus and its financial implications for the average American.
Meanwhile, Institutions are increasingly focusing on Bitcoin as an opportunity. After MicroStrategy bought $ 250 million in late July Open interest in Bitcoin futures hit an all-time high of $ 250 million this week.