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Robert Kiyosaki: Buy Bitcoin Before Major Banking Crisis

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LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

Robert Kiyosaki said that since the dollar weakness has continued to worsen, there is no more time to hear about buying a safe haven like Bitcoin. Living author Robert Kiyosaki warned that Bitcoin (BTC) is an essential investment.

In a tweet on August 21, the author of “Rich Dad and Poor Dad” told his followers that there is no time to think about safe haven consequences.

Robert Kiyosaki warns about a major banking crisis

The reason, he said, was that Warren Buffett had chosen to dump bank stocks.“WHY BUFFET is OUT OF BANKS. BANKS BANKRUPT. MAJOR BANKING CRISIS COMING FAST,” he wrote. “Should the Fed and Treasury keep the banking system? To protect large-scale unrest, the Fed and Treasury taxes are run currencies? There is no time relates. How much gold, silver, Bitcoin do you have?

The coronavirus crisis has only exacerbated his calls to exit dependency on fiat, in line with various Bitcoin proponents who fear that the government’s coronavirus response is quick to bloat paper money. The macroeconomic collapse since March, when the US dollar currency index has been at the same level for two years, Bitcoin and precious metals have had an enormous impact.

Robert Kiyosaki
U.S. dollar currency index chart since March. Source: TradingView

The weak dollar and Strange Stock Market Record

In August, people were concerned about the state of the world economy. In the US, the Fed’s balance sheet once fell below $ 7 trillion and is now back above that level, indicating that the central bank continues to intervene in traditional markets.

Market commentator Holger Zschaepitz concluded: “As the PE quota of the S&P 500 and the Fed’s balance sheet expire one after the other, the Fed’s balance sheet has recovered to more than 700 billion US dollars, which gives investors the green light for more open shares gives. “

Despite the uncertainty surrounding the coronavirus and its financial impact on the average American, the S&P 500 index hit a record high this week.

At the same time, institutions are paying more and more attention to Bitcoin as an opportunity. After MicroStrategy bought it for $ 250 million in late July, open interest in Bitcoin futures hit a record high of $ 5 billion this week.

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