In the latest financial developments, Bitcoin‘s value has soared past $69,000, with projections pointing towards potentially higher records as the cryptocurrency‘s halving event approaches. This bullish trend reflects a robust appetite for risk among investors who anticipate further surges in the crypto market. A notable economic writer recently made an important declaration, closely watched by market enthusiasts.
Surging Values of Crypto and Metals
Bitcoin, gold, and silver have been on a concurrent upward trajectory for several months, each reaching unprecedented levels. Gold, akin to Bitcoin, attained its highest value ever this month. The anticipation of the Federal Reserve’s interest rate cuts, expected to commence in mid-2024, alongside stable inflation rates, are fueling a reversal of the restrictive monetary policies, which is subsequently driving up enthusiasm in risk markets and stock peaks.
Acclaimed author Robert Kiyosaki has been vocal in his endorsement of Bitcoin, gold, and silver, labeling them as “real money” in contrast to the unlimited issuance of fiat currencies. Kiyosaki highlighted the diminishing confidence in the US dollar, compounded by increasing external debt, as causes for concern.
In a recent address to a vast audience of investors, Kiyosaki urged preparation in the face of the escalating US national debt, which surges by $1 trillion every 90 days. He advised on acquiring more gold, silver, and Bitcoin, buttressing his stance on the fragility of America’s financial health.
Fiat Currencies vs. Timeless Assets
Historically, gold and silver have been sought-after assets due to their scarcity. Kiyosaki deems them “God’s money,” in contrast to the dollar, which, despite being bolstered by US political and military might, suffers from a reputation tarnished by unrestrained external debt. While some analysts speculate on the dollar’s potential obsolescence, the prospect remains speculative at best.
Kiyosaki contends that the true value lies in assets with genuine scarcity, such as gold and silver, which cannot be arbitrarily produced. He anticipates substantial appreciation in their worth, especially as fiat currencies experience inflationary pressures. He posits that long-term investment in “real money,” including Bitcoin, will yield no regrets, despite the fact that future financial landscapes are unpredictable.