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Kiyosaki suggests Bitcoin as a solution to America’s debt problem

Kiyosaki suggests Bitcoin as a solution to America’s debt problem

GrafaGrafa2024/09/13 07:20
By:Isaac Francis

With the U.S. debt surpassing $35.3 trillion, concerns about the country's financial future are rising, prompting some financial experts to propose alternative strategies.

Among them is Robert Kiyosaki, author of Rich Dad Poor Dad, who has urged investors to consider Bitcoin (CRYPTO:BTC) as a viable hedge against the growing debt crisis.

Kiyosaki argues that traditional measures will not resolve the issue and that neither Donald Trump nor Kamala Harris can offer a solution in the near term.

Kiyosaki's perspective aligns with the strategy implemented by El Salvador, which has been purchasing one Bitcoin per day for over 665 days.

The country currently holds 5,871 BTC, valued at around $342 million.

This strategy has enabled El Salvador to manage its $800 million debt while maintaining its Bitcoin reserves.

Inspired by this approach, U.S. Senator Cynthia Lummis has proposed legislation to establish a strategic Bitcoin reserve for the United States.

The plan suggests purchasing one million Bitcoins over the next five years and holding them for at least 20 years as a way to reduce national debt.

In a recent tweet, Kiyosaki reiterated his stance, stating, "The real problem is the $35 trillion in US debt… neither Trump nor Kamala can solve."

He emphasised the unsustainable nature of the current debt trajectory, noting that the U.S. government spends approximately $1 trillion a year just on interest payments.

Kiyosaki further warned, "If you spent $1 a minute, it would take 31,688 years to spend 1 trillion dollars."

He concluded by advising against saving in U.S. dollars, which he referred to as "fake money," and instead advocated for investing in gold, silver, and Bitcoin, which he considers "real money."

At the time of reporting, the Bitcoin (BTC) price was $57,864.75.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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