Billionaire investor Robert Kiyosaki is once again championing Bitcoin, suggesting that a potential Trump presidency could significantly enhance its value.
Kiyosaki envisions that Trump’s policies, such as weakening the US dollar and stimulating domestic production, would benefit Bitcoin and other assets by making exports more competitive and boosting economic growth. According to Kiyosaki, a weaker dollar could drive up prices for Bitcoin, gold, silver, and stocks.
Kiyosaki’s endorsement comes alongside criticism of President Biden’s energy policies, particularly the cancellation of the Keystone XL pipeline, which he argues has led to inflated oil prices and increased inflation.
He contrasts this with Trump’s potential plan to increase domestic oil production, which Kiyosaki believes could lower oil prices and foster economic expansion.
Adding to the buzz, Kiyosaki has also voiced concerns about the impact of AI on job markets, predicting that Bitcoin, along with gold and silver, could serve as a financial safeguard during such disruptions. Meanwhile, the US government has recently sold off some of its Bitcoin holdings, a move closely monitored by the investment community.
With Trump set to address Bitcoin’s role at an upcoming conference, there is growing anticipation about his plans for the cryptocurrency if he wins the presidency.
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Fifteen years ago, a programmer unknowingly made history when he traded 10,000 bitcoins for two pizzas—marking the first documented purchase using cryptocurrency.
Strategy, the rebranded identity of MicroStrategy, is preparing to raise up to $2.1 billion through the sale of preferred stock as part of its ongoing effort to grow its Bitcoin portfolio.
Bitcoin’s return to six-figure territory has reignited market optimism, but unlike the short-lived surge seen in January, the current rally appears to be built on firmer ground.