Robert Kiyosaki often recommends to his fans to invest in gold, silver and bitcoin. This time, however, he pointed to a serious reason. We may be approaching the collapse of the US. So is cryptocurrency an insurance policy against the end of the world?
Robert Kiyosaki tries to draw conclusions from the past
A well-known author of books on financial intelligence claims that an era is coming to an end. This is about the period of US domination in the world.
END OF THE AMERICAN EMPIRE? This week, Americans will bet USD 68 billion on the match. At the same time, America's debt is the highest in the history of the world, and it is a debt that America will never be able to repay. The Roman Empire ended the same way: gladiators entertained chubby Romans while their bankers devalued their currency to pay soldiers and pay bills. HISTORY REPEATS ITSELF BECAUSE STUPIDITY REPEATS. Do not be stupid. Instead, go for gold, silver and bitcoin
– wrote on X.
And in fact, apart from some historical distortion (the Romans did not have a central bank), Kiyosaki is quite right. Empires fall for economic reasons. This was the fate of ancient Rome, which – it's true – destroyed its own currency for centuries. Then, for similar reasons, the Spanish empire ended its short life, and then the French one (the real reason for the French Revolution was the bankruptcy of the state).
The USA had been coping with printing and debt for years because the dollar was the global means of settlement. However, this period seems to be slowly coming to an end. All this will not last a year or two, but in a decade the Americans are unlikely to be the world hegemon.
Bitcoin is a safe haven?
But why should bitcoin save us in times of geopolitical earthquake? Kiyosaki treats cryptocurrency on an equal footing with gold and silver. Is it right? At the time of Russia's attack on Ukraine in 2022, the bitcoin price was rising. It continued to decline only when the situation on the front stabilized and the conflict turned into a positional war. Additionally, the weakness of the dollar means the strength of gold and bitcoin.
Kiyosaki's assumptions are therefore correct. Especially since many other factors may drive increases on the BTC/USD chart over the next several months.