We are at a point in bitcoin history where the token is getting fame across the globe. Essentially, more and more people are endorsing the use of coin in 2020. On Monday, this platform posted news of George Ball ( ex-prudential securities) conceding that it’s time to buy bitcoin. Today, Robert Kiyosaki the author of ‘Rich Dad, Poor Dad'( no.1 personal financial book) has also said the investing in BTC is crucial now.
Kiyosaki has always been a supporter of bitcoin. He believes in investing in safe havens. However, the current economic situation has made him root for BTC even more fiercely.
In his tweet on 21 August, the author said that there is no longer time to ‘think about’ investing in safe havens. He suggested that people should already hold assets in gold, silver, and Bitcoin.
Robert Kiyosaki mentioned why people shouldn’t trust banks.
“WHY BUFFET is OUT OF BANKS. Banks bankrupt. MAJOR BANKING CRISIS COMING FAST,”
This was a powerful and alarming prediction from his side. But it wasn’t a surprise for many.
Coronavirus pandemic has been plaguing the global economy for a year now. Governments around the world are providing relief packages to industries in order to save their countries from economic collapse. However, many financial experts believe that over-printing of paper money will bring the blue of currency down sooner than later.
The Dollar is Weakening:
The central bank in the United States is consistently intervening in the market. The move is intended to bring the federal reserves balance sheet above the $7 trillion level.
Not just the US, but the whole world is facing unprecedented times. The world economy has been in bad shape since the start of August. In this situation, traders, investors, and institutions are all focusing on bitcoin. The bitcoin futures open interest successfully hit an all-time high of $5 billion this week.