Robert Kiyosaki is alarmed by the escalating U.S. national debt, which has surpassed $35 trillion and is growing rapidly.
Robert Kiyosaki, an advocate for bitcoin and a millionaire investor, has expressed his concern regarding the rapid increase in the national debt of the United States. According to him, neither Donald Trump nor Kamala Harris are capable of finding a solution to the problem of the debt, which has now reached $35 trillion.
Robert Kiyosaki Warns of Financial Collapse
Instead, Kiyosaki promotes the use of gold, silver, and Bitcoin as viable alternatives to the United States dollar, which is seeing a decline in value. According to a series of posts, Robert Kiyosaki, the author of the book Rich Dad, Poor Dad, believes the United States of America is on the verge of a financial collapse.
Robert Kiyosaki has brought to our attention the fact that the national debt is growing by one trillion dollars per hundred days. He says that the United States economy is on the verge of a catastrophic crisis because annual interest payments on debt exceed one trillion dollars.
He asserts that an extended period of time cannot sustain the current reliance on the dollar, which he refers to as “fake money.” When it comes to investing, Robert Kiyosaki has recommended that individuals put their money into tangible things such as gold, silver, and Bitcoin.
Robert Kiyosaki believes that as the value of the dollar falls, these assets will continue to hold their value. While everything is going on, Kiyosaki is also sounding the alarm about an imminent banking crisis, which he describes as being “hidden” and more perilous than a conventional market crash.
Although market breakdowns provide individuals with the opportunity to make preparations, Kiyosaki points out that financial crises occur discretely and pose considerable hazards.
Trump’s Bitcoin Strategy Sparks Debate
Recently, Donald Trump has made a suggestion that Bitcoin (BTC) might be able to play a part in resolving the dilemma of the national debt. During an interview, President Trump brought up the notion of employing the cryptocurrency as a means of compensating for the ever-increasing debt.
The price of a single Bitcoin might potentially reach millions of dollars during the next several decades, according to many supporters of the cryptocurrency. According to Trump’s proposal, the US government would buy a significant amount of Bitcoin, store it for twenty years, and then sell it to pay off the debt.
From the perspective of this strategy, an increase in the value of Bitcoin would result in a sufficient amount of earnings to make a big dent in the national debt. On the other hand, this concept has aroused disagreement among economists, with some of them doubting whether or not it is even feasible.
Furthermore, Senator Cynthia Lummis of Wyoming has expressed her support for using Bitcoin as a means to stimulate the United States’ economy. The establishment of a strategic Bitcoin reserve was one of the ideas that she offered during the 2024 Bitcoin Conference.
Will BTC Be the Solution?
According to Lummis, this reserve would act as a support for the United States dollar, which might potentially strengthen it on a global basis. In Lummis’ proposal, the United States would buy one million bitcoins, which would be approximately five percent of the total amount of bitcoins.
She is of the opinion that this action would establish secure financial conditions for the long run and serve as a buffer against inflation. While some share Lummis’ vision, others remain skeptical about Bitcoin’s volatility and reserve currency potential. One such individual is Peter Schiff.
The concept of utilizing Bitcoin as a solution to the crisis in the United States’ debt is gaining steam, but opinions are mixed on the matter. Robert Kiyosaki believes it is a workable approach, particularly given that the value of the dollar is continuing to fall.
He has learned that traditional assets like bonds are essentially debts, and loans form the foundation of the global financial system. Not only does the author of Rich Dad Poor Dad consider Bitcoin to be a “hard asset,” but other financial experts, such as Michael Saylor, also believe that it has the potential to offer security during times of economic instability.
By the end of the next ten years, Saylor believes that the price of Bitcoin might reach thirteen million dollars. Supporters of Bitcoin believe that it has the potential to eventually stabilize and become an important financial asset as institutions’ interest in Bitcoin grows.In spite of these hopeful expectations, the volatility of Bitcoin continues to be a cause for concern.
Even if its price has stabilized over the past few weeks, it is still unclear whether or not the asset will remain stable over the long run. Because of this, some people are beginning to doubt if Bitcoin can actually be a solution to the dilemma that the United States is experiencing with its national debt.
