Bitcoin (BTC) will “crash” when the world finds a coronavirus vaccine that works, popular author Robert Kiyosaki claims.
In a tweet on Sep. 15, Kiyosaki, famous for his book, “Rich Dad Poor Dad,” warned that a functional solution to Covid-19 would send safe-haven assets plummeting.
Kiyosaki: vaccine “crash” will be Bitcoin buying opportunity
“What happens when vaccine is proven? Gold silver Bitcoin will CRASH. Buying opportunity,” he wrote.
Continuing, Kiyosaki argued that the virus was masking the “real” issues at stake for the United States economy in particular. With $26.7 trillion in debt according to monitoring resource U.S. National Debt Clock, much of which appeared via stimulus measures since Covid-19 hit, the country is now “bankrupt.”
“Real problem NOT Pandemic. Real problem massive US debt. US Bankrupt. $28 T balance sheet debt. $120 T off balance sheet social obligations,” the tweet reads.
“Gold silver Bitcoin best investments long term.”
The argument in favor of long-term investment in Bitcoin has become more and more public since March’s cross-asset market crash.
Despite current strength, the U.S. dollar is broadly seen as being in a downward spiral which will only worsen thanks to Federal Reserve policies — also ostensibly intended to counter coronavirus fallout.
As Cointelegraph reported, weakness in the U.S. dollar currency index has buoyed Bitcoin and gold in recent months, underscoring inverse correlation which remains a major consideration for traders.
On Wednesday, the Fed is set to deliver fresh comments on the future of its market participation, further raising the prospect of dollar volatility.
Another trend highlights increases in BTC/USD as the debt amassed by central banks worldwide ballooned this year.
Macro asset returns in 2020. Source: Skew
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Kiyosaki meanwhile remains an outspoken supporter of Bitcoin, whatever the weather. In August, he urged Twitter followers to…