Bitcoin (BTC) is a major investment as the world prepares to face a major banking crisis, warned popular author Robert Kiyosaki. In a tweet on August 21, the author of the bestseller Rich Dad, Poor Dad told followers that it was no longer time to think about investing in safe havens.
Major banking crisis is coming fast
The reason is that Warren Buffett decided to sell the bank shares. “Why Buffet is out of banks. Banks bankrupt. Major banking crisis coming fast, “he wrote.
Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?
Kiyosaki is a well-known proponent of Bitcoins, often advising the public to buy and actively address the declining trajectory of fiat currencies. The coronavirus crisis has only multiplied its calls for an end to fiat addiction, along with various Bitcoin supporters who fear that governments’ responses to the crisis will cause economic collapse.
In the interim period since March, when macro assets fell en masse, there have been huge gains in both Bitcoins and precious metals, supported by the two-year US dollar index.
Weak dollar versus S&P 500 index
In the United States, the Federal Reserve’s balance sheet, which previously fell below $ 7 trillion, is now back above that level – a sign of continued central bank intervention in traditional markets.
“The Fed’s balance sheet is back > USD 7 billion, which gives investors the green light for further gains in the stock market, as the price-to-earnings ratio of the S&P 500 is in tandem with the Fed’s balance sheet,” said market commentator Holger Zschaepitz.
The S&P 500 has climbed to new highs this week. This is despite the uncertainty associated with coronaviruses and the financial impact on the average American.
Meanwhile, institutions are increasingly focusing on Bitcoins as an opportunity. Following the purchase of $ 250 million in MicroStrategy at the end of July, open interest from BTC futures reached a record $ 5 billion this week.
What do you think? Is there a major banking crisis ahead of us?
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