Robert Kiyosaki, the famous author of the bestselling book Rich Dad Poor Dad, once again emphasized the importance of investing in Bitcoin and gold. His recommendation came while negotiations on raising the debt ceiling were ongoing before 1 June 2023. Known for his financial insights, Kiyosaki sees Bitcoin as a capital-increasing asset and an insurance policy, especially in these tightening market conditions that pose risks to traditional asset investments. Here are the details…
Robert Kiyosaki continues to advocate for gold and Bitcoin investment
Famous writer Kiyosaki pointed to some investment assets in light of the potential collapse situation. Kiyosaki; believes that protecting investments with gold, silver and Bitcoin would be a smart move for investors. However, the outcome remains uncertain as the debt ceiling debate has yet to gain momentum. This isn’t the first time the United States has grappled with debt ceiling debates. Similar discussions in July 2011 led to a crash in financial markets. At that time, the price of Bitcoin experienced a significant drop, dropping by an astonishing 61 percent. It is worth noting that this occurred in the first years of the existence of cryptocurrencies.
Describing the ongoing debt ceiling talks as “bad comedy”, Kiyosaki continues his statements. He states that the US is already bankrupt. He argues that the country has more than $250 trillion in unfunded obligations, primarily in social security obligations. The primary goal of the negotiations is to avoid default by raising the limit. However, there is a significant difference of opinion among leaders on cost-cutting measures. However, Republican Kevin McCarthy expressed optimism that a deal would be reached. Kiyosaki also criticized the situation and said:
It’s a bad comedy, ‘kabuki theatre’, when politicians discuss raising the $30 trillion US debt limit. The facts are clear: the USA went bankrupt. Unmet obligations like Social Security are over $250 trillion.
Politicans debating raising $ 30 trillion US debt limit bad comedy, “kabuki theater.” Facts are: US bankrupt. Unfunded liabilities as Social Security are over $250 trillion. Financial market “derivative assets” measured in quadrillions…thousands of trillions. WTF. Buy G,S, BC.
— Robert Kiyosaki (@theRealKiyosaki) May 24, 2023
Debt ceiling talks critical
Amid these debt ceiling discussions, macroeconomic events continue to affect the cryptocurrency market. Speculation points to Bitcoin in the event of a stock market crash. It shows that BTC could emerge as a preferred high-risk option for investors looking to hedge against market uncertainty.
As the June 1 deadline approaches, investors are closely watching the outcome of the debt ceiling talks. He listens to Kiyosaki’s advice to diversify their portfolios with gold, silver and Bitcoin against potential risks. Time will tell if the United States can emerge from this difficult economic environment without major setbacks. cryptocoin.comAt the time of writing, Bitcoin is changing hands at $26,200, down 1.9 percent, according to data.
