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Buy Bitcoin before the ‘Great Banking Crisis’

Bitcoin (BTC) is an essential investment as the world is about to face a “great banking crisis”popular author Robert Kiyosaki has warned.

In a tweet from August 21, the author of “Rich Dad Poor Dad” told his followers there was no time to “think” about investing in safe havens.

“The great banking crisis is fast approaching”

The reason, he said, was that Warren Buffett had chosen to ditch the bank’s shares.

“WHY BUFFET IS OUT OF THE BANKS. The banks are bankrupt. The great banking crisis is fast approaching “, wrote.

“” Will the Federal Reserve and the Treasury take over the banking system? Will ‘helicopter fake money’, Fed and Treasury straight to the people prevent massive riots? Now is not the time to ‘Think about it.’ How much gold, silver, Bitcoin do you have? “

Kiyosaki is a well known Bitcoin supporter, than frequently advises the public to buy and is actively concerned about the downward trajectory of fiat currency.

The coronavirus crisis has only exacerbated their calls to break out of dependence on fiat money, in line with various Bitcoin advocates. who fear that the coronavirus responses by governments have already almost completely doomed inflated paper money.

In the period since March, when macroeconomic assets crashed en masse, both Bitcoin and precious metals have seen huge gainsdriven by the US dollar currency index, which has reached its lowest level in two years.

Chart of the US dollar index since March. Source: TradingView

The weakness of the dollar against the disturbing records of the stock market

August is seeing new concerns about the state of the world economy. In the U.S, the Federal Reserve’s balance sheet, which had previously fallen below USD 7 trillion, is now above that level again, a sign of continued central bank intervention in traditional markets.

The S&P 500 hit all-time highs this week, despite the uncertainty associated with the coronavirus and its financial impact on the average American.

In the meantime, Institutions continue to focus more and more on Bitcoin as an opportunity. After MicroStrategy’s purchase of $ 250 million in late July, Bitcoin futures open interest reached an all-time high of USD 250 million this week.

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