Robert Kiyosaki Urges Investors to Stock on Bitcoin as US Economy Stabilizes a Little
The post Robert Kiyosaki Urges Investors to Stock on Bitcoin as US Economy Stabilizes a Little appeared first on Coinpedia Fintech News
Financial whizz Robert Kiyosaki, renowned for his best-seller, Rich Dad, Poor Dad, turned heads recently with another Bitcoin-related Twitter post. A celebrated finance educator turned Bitcoin advocate, Kiyosaki advised investors to stay keen on Bitcoin amidst slight stability in the American economy.
Rising Stocks, Rising Debt
The stock market has been in an unexpected upswing recently, a trend that Kiyosaki links to the removal of the debt ceiling. The debt ceiling, a cap set by Congress on the amount the US government can borrow, has recently been 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’s sentiment on the situation was quite clear. “The wealthy become wealthier while America becomes poorer. Sad,” he commented, making it clear that he would stick to “real money and real assets: Gold, Silver, Bitcoin.”
Last month, Congress greenlit an agreement to elevate the government’s borrowing limit, averting a potentially disastrous default on US debt repayments. This ceiling, currently at a staggering $31.4 trillion, has been a source of intense debate. The inability to settle on terms has rendered the decision to raise or suspend the ceiling increasingly challenging over recent years.
Bitcoin’s Unwavering Stance
Switching gears to Bitcoin, its current value stands at $30,334. Despite the bullish uptick influenced by the SEC versus Ripple lawsuit, Bitcoin has held steady within a range from $29,000 to $31,000.
With its characteristic price swings over the weekend and lower volume, if influential investors decided to buy into the weekend, Bitcoin could potentially rise above the $30,500 mark, maybe even nearing $32,000. On the other hand, if investors decide to sell, Bitcoin could plunge below the pivotal $30,000 level, risking a potential fall to the $28,000 range.
Bulls keen on defending Bitcoin must ensure the digital currency stays above the $30,000 level. Kiyosaki’s urging to stick with Bitcoin comes at a crucial time, aligning with these market uncertainties and the looming volatile weekend.
Filed under: Bitcoin - @ July 15, 2023 10:18 am