Robert Kiyosaki, the author of Rich Dad Poor Dad and a very wealthy investor just went on twitter to tell the world that the US dollar is depreciating in value. His advice? Buy Gold, Silver and Bitcoin.
I don't want to touch too much on the Gold and Silver aspect. Everyone knows those are considered "safe haven" assets. But what if, in this digital age, the tides are changing? What if Bitcoin and other digital assets are becoming the trend? Afterall, most millenials are starting to put more of their trust into trustless systems. Please understand that I am not trying to talk anyone out of buying precious metals. I still believe they serve a purpose. However, I'm questioning how much of a purpose do they really still serve? Can we go to the grocery store and make a purchase with an ounce of gold? No. Can I go to the store and make a purchase with Bitcoin? Absolutely. At the same time Bitcoin is also being called a store of value. It has taken on attributes of becoming a "safe haven". So when are people going to start accepting this global currency and taking it seriously? I think the time is coming sooner than we anticipated. This global crisis that we are all facing is not something that came out of thin air. Many economists knew that something of this caliber was on the horizon. They didn't know what was going to cause the collapse. They just knew that all things that rise on a parabolic level must come down eventually.
Enter Covid-19:
We're now facing a crucial point in time where 30% of Americans are out of work, not receiving paychecks, and they are having to rely on the government stipends to make ends meet. What happens when the US government just continues to print more dollars and the value of that dollar depreciates so much that a loaf of bread costs $10 or $20? This might sound crazy but look throughout history of countries that inflated their currency beyond its means. Currently, the US dollar stands as a global currency used to purchase oil and other widely traded commodities. Do you think that the entire world would continue to use it if it was worth 20x less? I don't believe so. That in itself would shrink the power of the dollar catastrophically. But eventually it's going to happen. In the words of George Harrison; All Things Must Pass.
Now is the time for Bitcoin to rise up and show the world that a deflationary asset with global spending power and security dominance is here to take the reigns. There is about to be a huge shift in wealth and it's going to be felt around the world. It might not be tomorrow, it might not be next month but it is coming.
Here is Robert Kiyosaki's tweet:
Cheers,
Clayford08