Buy Bitcoin before the next banking crisis, advises Robert Kiyosaki
Bitcoin (BTC) represents an essential investment, as the world is facing a „serious banking crisis“: this is the opinion of Robert Kiyosaki, well-known businessman and author of the book „Rich Dad Poor Dad“.
In a tweet of August 21, Kiyosaki warned his followers: there is no more time to lose, we must invest as soon as possible in shelter assets.
„A serious banking crisis is coming, and very quickly“.
The reason for this insistence is that even Warren Buffett has decided to sell his bank shares:
„Why did Buffett abandon the banks? The banks are bankrupt. A serious banking crisis is coming, and very quickly.
Are the Federal Reserve and the Treasury taking control of the banking system? Are the Federal Reserve and the Treasury printing money in a big way to avoid mass settlements? It is no longer time to think about it: how much gold, silver and Bitcoin do you have?“
Kiyosaki is a well-known Bitcoin supporter, and has long advised the public to buy cryptocurrency and precious metals to protect their assets from cash devaluation.
The crisis triggered by the pandemic has made his calls to abandon traditional money much more frequent and insistent. A view shared by many BTC owners that the responses of world governments to the coronavirus will cause the economy to collapse.
In fact from March to date prices of both Bitcoin and precious metals have significantly increased, also thanks to the fact that the U.S. dollar has touched the lowest value in the last two years.
U.S. stock exchange in strong growth
August was characterized by new fears about the state of the global economy. In the United States, the Federal Reserve’s balance sheet has once again returned above 7,000 billion dollars – a sign of the central bank’s continued intervention in traditional markets.
On Twitter, analyst Holger Zschaepitz commented:
„The Fed’s balance sheet is back above 7,000 billion, giving investors the green light for further gains on the stock market. The S&P 500’s S/S grows in tandem with the Etoro balance sheet“.
This week, the S&P 500 reached its highest values ever, despite the uncertainties associated with the epidemic and the impact the virus will have on American finances.
In the meantime, the large institutions are gradually approaching Bitcoin. Following MicroStrategy’s purchase of $250 million in BTC, the open interest of futures on Bitcoin exceeded a record $5 billion.