The US debt crisis highlights the demand for gold, silver and bitcoin
Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” issued a stark warning about America's debt crisis, urging individuals to consider investing in gold, silver and bitcoin as a hedge against looming economic uncertainty.
US debt is growing exponentially.
Robert Kiyosaki recently highlighted the massive amount of US debt by comparing a trillion dollars in seconds to 31,688 years in a tweet. He pointed out the alarming rate at which America is accumulating debt, adding $100 trillion every day, bringing the national debt to nearly $35 trillion.
Currently, US debt is close to $35 trillion, which means that each citizen effectively owes $100,000.
The rapid increase in debt has raised concerns about the long-term stability of the economy. Kiyosaki also warned against relying solely on FDIC insurance and the banking system.
Why Gold, Silver and Bitcoin?
As US debt continues to rise, Kiyosaki emphasized the importance of investing in physical assets like gold and silver versus digital assets like Bitcoin. He believes these investments can prevent a fall in the fiat currency, which could lose significant value if the debt crisis worsens.
Kiyosaki has long recommended gold, silver and bitcoin as safe havens. He recently predicted an imminent recession in a major bull market, with bitcoin hitting $10 million a coin, gold $15,000 and silver $110 an ounce. He attributes this forecast to declining confidence in fiat currencies and historical trends.
Bitcoin – the opportunity to buy
Bitcoin is currently trading at $60,805, up 2.3% over the past 24 hours, with a market cap of $1.2 trillion. However, it continues to strengthen between $58,000 and $62,066.
To start a strong bull run, Bitcoin may need to break through the resistance at this level. This resistance is in line with the trend line breached earlier and the 100-day EMA around $62,217, making it an important zone to watch.
