As World Finds COVID-19 Vaccine, Bitcoin Will ‘Crash’: Robert Kiyosaki
The author of Rich Dad Poor Dad, Robert Kiyosaki, has recently claimed that soon after the world finds a vaccine for COVID-19, Bitcoin will crash. On September 15, Kiyosaki, in his tweet mentioned that as the functional solution to COVID-19 arrives, the value of the safe-haven assets would start declining.
He further mentioned that due to the outbreak of Coronavirus, some of the real issues in the United States, like the economy, were left hidden.
Country In Debt Due To COVID-19According to the data released by the US National Debt Clock, presently, the country is in debt of $26.7 trillion and most of it has appeared through stimulus measures since the COVID-19 arrived. It could be said that currently, the country is ‘bankrupt’.
Kiyosaki in his tweet notified, “Real problem NOT Pandemic. Real problem massive US debt. US Bankrupt. $28 T balance sheet debt. $120 T off-balance-sheet social obligations.” As per the report, since the mid-March crisis, where the value of Bitcoin suddenly came down, an argument regarding long-term investment in BTC has ignited.
US Dollar Value CollapsingThe author has stated that although the US dollar is considered to be powerful in the worldwide market, it would experience a downward trend because of the policies framed by the Federal Reserves.
From the past few months, the market has been noticing that compared to the US dollar value, Bitcoin and gold have been rising. On September 16, the Federal Reserve talked about its market future participation and also raised the prospect of dollar volatility.
Kiyosaki also talked about BTC/USD in his tweet, he mentioned that in the current year, till date, the central bank has accumulated an increasing number of BTC/USD as a debt.
However, the fact can not be denied that Kiyosaki himself is a great supporter of Bitcoin. Even though he has claimed that Bitcoin will crash due to COVID-19, Kiyosaki till believes in it.
About The Author
Jyoti SinghJyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.