Robert Kiyosaki has raised fresh concerns about the global financial system, emphasizing the overburdened state of the bond market.
The well-known financial advisor and Bitcoin proponent argues that the world economy is overly reliant on debt, a situation he finds unsustainable.
Kiyosaki pointed out on X that while bonds are presented as a cornerstone of economic stability, they essentially represent debt. He warned that the collapse of this debt-based system signals deeper economic issues.
According to Kiyosaki, while market crashes are typically evident and offer time to prepare, banking crashes are more insidious and pose greater risks. This aligns with ongoing recession fears in the US.
Kiyosaki, who views an economic downturn as inevitable, has turned to physical assets like Gold, Silver, and Bitcoin as safer investments. He, along with other influential figures like Michael Saylor of MicroStrategy, believes in Bitcoin’s potential as a solid asset, with Saylor predicting a future value of $13 million per Bitcoin.
Despite this optimistic outlook, Bitcoin has seen a 6.30% decline over the past month, hitting a low of $52,598.70. However, recent analysis suggests that Bitcoin may be at its lowest point and could soon rebound. As of now, Bitcoin has increased by 4.76% to $56,871.55, and if this positive trend continues, it might surpass the $60,000 mark in the near future.
JPMorgan CEO Jamie Dimon has issued a stark warning about the looming threat of a global recession, even as he continues to criticize Bitcoin and other cryptocurrencies.
On October 10, South Korea’s Financial Services Commission (FSC) announced the establishment of a Virtual Asset Committee to consider the approval of cryptocurrency exchange-traded funds (ETFs).
Famed commodities trader Peter Brand has sparked quite a different sentiment among the cryptocurrency community.
Bitcoin recently dipped to $58,900, its lowest point in three weeks, following a favorable US Consumer Price Index (CPI) report.