Bitcoin advocate and billionaire investor Robert Kiyosaki has raised concerns about the escalating U.S. national debt. He suggests that neither Donald Trump nor Kamala Harris can solve the debt issue, which has now reached $35 trillion. Instead, Kiyosaki advocates for gold, silver, and Bitcoin as viable alternatives to the weakening U.S. dollar.
Robert Kiyosaki Warns of Financial Collapse
According to a series of post, Robert Kiyosaki, known for his book Rich Dad Poor Dad, believes the U.S. is on the brink of a financial collapse. He has pointed out that the national debt is increasing by $1 trillion every 100 days.
With interest payments on the debt exceeding $1 trillion annually, he suggests the U.S. economy is headed toward a serious crisis.
While I want Trump to win… it really makes little difference if Trump or Harris win.
The real problem is the $35 trillion in US debthat is the real problem….neither Trump nor Kamala can solve.
As stated in earlier tweets the US debt goes up by $1 1trillion every 100 days.…
— Robert Kiyosaki (@theRealKiyosaki) September 13, 2024
He stresses that the current reliance on the dollar, which he calls “fake money,” is unsustainable. Instead, Robert Kiyosaki has advised people to invest in physical assets like gold, silver, and Bitcoin. He argues these assets will retain value as the dollar continues to decline.
Concurrently, Kiyosaki also warns about an impending banking crisis, describing it as “hidden” and more dangerous than a traditional market crash. While market crashes give people time to prepare, Kiyosaki notes that banking collapses happen silently and pose significant risks.
Trump’s Bitcoin Strategy Sparks Debate
Donald Trump has recently suggested that BTC could play a role in addressing the national debt crisis. During an interview, Trump mentioned the possibility of using the cryptocurrency to offset the growing debt. Some proponents believe that Bitcoin price could reach millions of dollars per coin within the next few decades.
Trump’s plan would involve the U.S. government acquiring a large reserve of Bitcoin, holding it for 20 years, and then selling it to pay off the debt. According to this strategy, BTC rising value would generate enough profit to make a significant dent in the national debt. However, this idea has sparked debate among economists, with some questioning its feasibility.
Senator Cynthia Lummis of Wyoming has also voiced support for using Bitcoin to boost the U.S. economy. At the 2024 Bitcoin Conference, she proposed establishing a strategic Bitcoin reserve. This reserve, according to Lummis, would serve as a backing for the U.S. dollar, potentially strengthening it on a global scale.
Lummis’ proposal involves the U.S. purchasing 1 million BTC, representing about 5% of the total Bitcoin supply. She believes this move would create long-term financial stability and provide a hedge against inflation. While some agree with Lummis’ vision, others such as Peter Schiff remain skeptical about Bitcoin’s volatility and whether it can truly act as a reserve currency.
Will BTC Be the Solution?
The idea of using Bitcoin to address the U.S. debt crisis is gaining traction, but opinions are divided. Robert Kiyosaki believes it is a viable solution, especially as the value of the dollar continues to decline. He has pointed out that traditional assets like bonds are essentially debts, and the global financial system is built on them.
Apart from the Rich Dad Poor Dad author, financial experts like Michael Saylor, also see Bitcoin as a “hard asset” that can provide security during economic downturns. Saylor has predicted that BTC price could reach $13 million in the coming decade. As institutional interest in Bitcoin grows, supporters argue that it could eventually stabilize and become a key financial asset.
Despite these optimistic projections, Bitcoin’s volatility remains a concern. While its price has rebounded in recent weeks, the long-term stability of the asset is still uncertain. This has led some to question whether BTC can truly be a solution to the U.S. national debt crisis.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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