Rich Dad Poor Dad author Robert Kiyosaki says the actions of US leaders in both the private and public sectors have made him bullish on Bitcoin (BTC).
Kiyosaki tells his 2.5 million followers on the social media platform X that the US government is ripping off Americans by taking on massive amounts of debt to keep the country running.
He also says that the dollar, just like any other fiat currency in the world, is a “giant Ponzi” scheme.
“All the US dollar is, is an IOU from America…
[I’m concerned about] our US political, banking, and financial leaders. They are incompetent or corrupt or both.
Our leaders have no idea how to control the growing US government debt and US bond market, and overinflated stock market.
America is broke printing $1 trillion… just to pay its bills. They should resign, be fired, impeached, or put in jail… They have ripped off the American people and the people of the world.”
Data from the U.S. Treasury Department shows that the country’s national debt rose by more than $1 trillion in just five months. At time of writing, the national debt stands at a record high of $34.598 trillion.
Kiyosaki says another reason why he’s bullish on BTC is because of its robust network. The best-selling finance author mentions Metcalfe’s Law, which states that the value of a network is directly related to the number of users it has.
“Metcalfe’s Law is a law about the power of ‘networks.’ Bitcoin, like the US dollar, cellphone networks, and network-making businesses such as Amway gain this core value from the strength of their network system. That’s the reason Metcalfe’s Law is important and why I am bullish about Bitcoin and the US dollar.
Bitcoin has a strong network.
Most ‘new crypto coins’ come off of the Ethereum platform. How many will do as well as Bitcoin? Only time will tell. Most will die because they fail Metcalfe’s Law, they fail to build a network.
That would [be] like you to belong to a cellphone network with only you.”
Kiyosaki previously said that he’s looking to buy 10 BTC before the end of the month as he expects the crypto king to hit $100,000 by September this year.
At time of writing, BTC is trading for $70,007, a fractional decrease in the past day.
Generated Image: DALLE3
Credit: Source link
