- Robert Kiyosaki urges Americans to save in Bitcoin, gold and silver as U.S. debt reaches $35 trillion.
- U.S. Senator Cynthia Lummis proposes buying 1M Bitcoins to address the national debt crisis.
- Donald Trump’s Bitcoin plan suggests holding BTC for 20 years to help reduce U.S. debt.
Robert Kiyosaki, author of Rich Dad Poor Dad, has sounded the alarm on the U.S.’s $35 trillion national debt. He believes the rising debt crisis is to definitely threaten the economy. He also puts forward the argument that neither Donald Trump nor Kamala Harris can solve the looming crisis. Instead, Kiyosaki advocates for ditching the U.S. dollar and to invest in assets like Bitcoin, gold, and silver.
Bitcoin as Hedge Against Debt Crisis
Kiyosaki highlights the U.S. government’s reliance on debt, as the core issue. Interest on the national debt has been way over $1 trillion annually, exceeding all other U.S. expenses combined. With the debt growing by $1 trillion every 100 days, Kiyosaki argues this is fueling inflation and devaluing the dollar.
Read also: Robert Kiyosaki Predicts Bitcoin to Hit $105,000 if Trump Wins 2024 Election
Senator Cynthia Lummis had also proposed a Bitcoin strategy to address the U.S. debt issue. She suggested the U.S. government buy 1 million Bitcoins over the next five years, echoing El Salvador’s approach of accumulating Bitcoin as part of its national financial strategy.
Trump’s Bitcoin Strategy Sparks Debate
Even Donald Trump is hellbent on using Bitcoin to tackle the U.S. debt. His strategy involves buying a large amount of Bitcoin and holding it for 20 years, aiming to use the potential gains to pay off the debt. This idea has received mixed reactions from economists, with some seeing potential and others highlighting Bitcoin’s volatility.
Read also: Trump’s Bold 2024 Vision: Bitcoin and the US Debt Solution
Bitcoin is already considered a hedge against economic disaster by certain institutional investors. Financial experts like Michael Saylor predict Bitcoin’s price will skyrocket to potentially reach millions. Those in favor argue that the price reaching such astronomical figures would significantly help address the U.S. debt crisis.
The debate over Bitcoin as a solution to the U.S. debt crisis is gaining ever more traction, with noted social figures and institutions showing increased affinity to BTC. However, the effectiveness of this strategy in stabilizing the economy lingers on as a point of contention.
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