Cryptocurrency <\/p>\n
Robert Kiyosaki – author of the famous personal-finance book “Rich Dad Poor Dad” – has come out with another enthusiastic statement in support of cryptocurrency.<\/span><\/p>\n The author listed 7 reasons why his followers should invest in Bitcoin and precious metals – centered around the United States government’s current financial position.<\/span><\/p>\n As reads Kiyosaki’s <\/span>tweet<\/span><\/a>, the first reason to invest in Bitcoin is that the U.S. “borrows too much money.” According to the <\/span>US National Debt Clock<\/span><\/a>, the nation is now up to nearly $31 trillion in debt. Meanwhile, U.S. GDP stands at just $24.8 trillion, leaving the country’s debt to GDP ratio at 137.76%.<\/span><\/p>\n Next, Kiyosaki cited the country’s intent to “keep interest rates low.” Interest rates were taken to historically low levels throughout 2020 and 2021, spurring a bull market for both Bitcoin and stocks. <\/span><\/p>\n However, keeping interest rates low requires the Fed to buy Treasury bonds and expand its balance sheet. This leads to the fourth reason for buying Bitcoin: inflation. <\/span><\/p>\n U.S. annual CPI inflation has been on the rise since 2021, <\/span>peaking<\/span><\/a> in June at 9.1%. However, the figure has reigned in somewhat over the past two months thanks to tightening Federal Reserve policy through rising interest rates – which have <\/span>bloodied<\/span><\/a> crypto and equities markets in the process. <\/span><\/p>\n As the author points out, higher interest rates lead to more expensive debt across the board. Market analyst Nicholas Merten from DataDash <\/span>noted<\/span><\/a> Monday that Fed policy is now driving up the cost of shelter. According to Merten, this could lead to “depressionary levels of recession.”<\/span><\/p>\n Indeed, the U.S. already <\/span>confirmed<\/span><\/a> recession status in July after clocking in two consecutive quarters of negative GDP growth. <\/span><\/p>\n Some crypto bulls have <\/span>expected<\/span><\/a> the Fed to return to loose monetary policy in the face of such market turmoil. This would presumably lead back to higher crypto\/ asset prices and a weakening dollar. Kiyosaki thus arrives at his final position – that the U.S. dollar is dying. <\/span><\/p>\n “BUY G-S-Bitcoin,” he concluded.<\/span><\/p>\n<\/blockquote>\n Gold, silver, and Bitcoin are often lumped into the same bucket as forms of “sound money” – money that is reliability scarce, and thus cannot be debased. This makes them resistant to inflation, unlike dollars – which exponentially expanded in supply over the past 3 years. <\/span><\/p>\n Kiyosaki has previously recommended that followers invest in the same basket of goods while <\/span>including Ethereum<\/span><\/a> on some occasions. <\/span><\/p>\n Binance Free $100 (Exclusive): Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (terms<\/a>).<\/p>\n \nPrimeXBT Special Offer: Use this link<\/a> to register & enter POTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div><\/div>\nCryptocurrency How the U.S. Dollar Dies<\/h2>\n
Cryptocurrency Inflation and Recession<\/h2>\n
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