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Robert Kiyosaki Bullish on Bitcoin Amid US Government Debt Concerns

Robert Kiyosaki, the author of “Rich Dad Poor Dad,” asserts his bullish stance on Bitcoin (BTC), attributing it to what he perceives as the detrimental actions of US leaders in both public and private sectors.

Addressing his 2.5 million followers on the social media platform X, Kiyosaki criticizes the US government for accumulating significant debt to sustain the nation, characterizing the dollar as a “giant Ponzi” scheme.

He expresses concern over the incompetence or corruption of US political, banking, and financial leaders, highlighting their inability to manage the escalating government debt, bond market, and inflated stock market.

“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.” 

Citing data from the US Treasury Department indicating a $1 trillion surge in national debt over five months, Kiyosaki calls for accountability among leaders, advocating for their resignation, dismissal, impeachment, or legal action.

Kiyosaki underscores his bullish sentiment on BTC, citing its robust network and referencing Metcalfe’s Law, which asserts that a network’s value correlates with its user base. He emphasizes Bitcoin’s strong network compared to emerging cryptocurrencies and its potential for sustained growth.

“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.” 

Previously announcing his intention to acquire 10 BTC by month’s end, Kiyosaki predicts Bitcoin’s price to reach $100,000 by September.

As of writing, BTC is trading at $69,832, experiencing minor fluctuations over the past day.

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