Bitcoin (BTC) represents an essential investment, as the world is facing a “severe banking crisis“: is the opinion of Robert Kiyosaki, a well-known businessman and author of the book” Rich Dad Poor Dad “.
In a tweet of 21 August, Kiyosaki warned his followers: there is no more time to waste, we need to invest in safe-haven assets as soon as possible.
“A major banking crisis is coming, and very fast”
The reason for this insistence is that persino Warren Buffett has decided to sell its bank shares:
“Why did Buffett quit the banks? The banks are bankrupt. A major banking crisis is coming, and very fast.
Does the Federal Reserve and the Treasury take control of the banking system? Are the Federal Reserve and the Treasury printing a lot of money to avoid mass settlements? It is no longer time to think about it: how much gold, silver and Bitcoin do you own? “
Kiyosaki is a well-known supporter of Bitcoin, and for some time advises the public to buy cryptocurrencies and precious metals to protect the assets from the devaluation of cash.
The crisis triggered by the pandemic has made its calls to abandon traditional money much more frequent and insistent. An opinion shared by numerous BTC holders, according to which the responses of world governments to the coronavirus will cause the economy to collapse.
In fact, from March to today, the prices of both Bitcoin and precious metals have increased significantly, also thanks to the fact that the US dollar has touched the lowest value in the last two years.
US dollar index, March to present. Source: TradingView
Strong growth in the US stock market
August was marked by new fears about the state of the global economy. In the United States, the Federal Reserve’s balance sheet is back above $ 7 trillion again – a sign of continued central bank intervention in traditional markets.
On Twitter, the analyst Holger Zschaepitz commented:
“The Fed’s balance sheet is back above 7 trillion, giving investors the green light for further gains on the stock exchange. The S&P 500’s P / E grows in tandem with the Fed’s balance sheet.”
This week, the S&P 500 hit its all-time highs, despite the uncertainties associated with the outbreak and the impact the virus will have on Americans’ finances.
Meanwhile, large institutions are gradually getting closer to Bitcoin. Following the purchase of 250 million dollars in BTC by MicroStrategy, the open interest of Bitcoin futures exceeded the record value of $ 5 billion.
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