The post Robert Kiyosaki Urges Investors to Stock on Bitcoin as US Economy Stabilizes a Little appeared first on Coinpedia Fintech News
Renowned financial guru Robert Kiyosaki, known for his best-selling book “Rich Dad, Poor Dad,” has once again caught the attention of investors with a recent Twitter post discussing Bitcoin. Formerly a prominent finance educator, Kiyosaki now encourages investors to keep a close eye on Bitcoin, even amidst a period of relative stability in the American economy.
Often looked up to, the crypto community pays heed to his investment advice. Here’s what he has to say this time.
Rising Stocks, Rising Debt
In a surprising turn of events, the stock market has experienced an unexpected upswing, and Kiyosaki attributes this trend to the elimination of the debt ceiling. The debt ceiling is a limit set by Congress on the amount that the US government can borrow, and it has recently become a contentious issue.
Congress decided to completely suspend the ceiling until 2025 after failing to agree on a new limit. This suspension could see the national debt rise hand-in-hand with the stock market. Kiyosaki made it clear that he would stick to “real money and real assets: Gold, Silver, Bitcoin.”
“The wealthy become wealthier while America becomes poorer. Sad.”
Last month, Congress approved an agreement to raise the government’s borrowing limit, successfully averting a potentially catastrophic default on US debt repayments. Currently standing at an astonishing $31.4 trillion, the debt ceiling has been a subject of intense debate. In recent years, the difficulty of reaching consensus on raising or suspending the ceiling has only heightened.
Bitcoin Stands Strong Amid the Chaos
Shifting gears to Bitcoin, its current value rests at $30,334. Despite the bullish momentum influenced by the SEC versus Ripple lawsuit, Bitcoin has maintained a steady range between $29,000 and $31,000.
Given its characteristic price fluctuations during the weekend and decreased trading volume, Bitcoin has the potential to surpass the $30,500 threshold if influential investors choose to buy during this period. In fact, it could even approach the $32,000 mark. Conversely, if investors opt to sell, Bitcoin may dip below the crucial $30,000 level, risking a potential decline into the $28,000 range.
Attention, Bitcoin Holders!
For Bitcoin bulls, it is crucial to safeguard the digital currency’s value above the $30,000 level. Kiyosaki’s endorsement of Bitcoin comes at a pivotal moment, aligning with market uncertainties and the imminent volatile weekend.