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The past few weeks have undoubtedly been rough for crypto; from the February highs, the Bitcoin price has fallen 36%, reaching a low of $3,800 in March.
Robert Kiyosaki, the author of the popular financial book “Rich Dad Poor Dad,” sees no reason to fear, though. In fact, the well-known investor recently went as far as to say that it’s time to drop dollars for Bitcoin (BTC) and other hard money.
In a recent tweet, Kiyosaki explained that with the Fed “counterfeiting […] trillions of fake dollars – $82 billion a month to $125 billion a day” and interest rates at 0%, it makes sense to save “gold, god’s money, or Bitcoin, people’s money,” rather than the fiat dollars that don’t yield anything and are being constantly debased.
He added in a later tweet that the dollar is likely “dying,” boosting the case to invest in gold, silver, and Bitcoin.
“DEATH OF DOLLAR. People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money.”
It should come as no surprise, then, that demand for Bitcoin is booming regardless of the current BTC price action.
Leading cryptocurrency exchange Coinbase reported that during the now-infamous “Black Thursday” crash, the exchange saw a dramatic surge in buying interest for cryptocurrency:
“But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility.”
The U.S.-based Kraken corroborated this narrative, writing in a recent tweet that the exchange “recorded an 83% rise in sign ups, and a 300% increase in verifications” over the past few weeks.
John McAfee Calls Bitcoin (BTC) ‘Worthless,’ Shows Support for These Three Cryptocurrencies
Controversial antivirus mogul John McAfee, who boasts more than 1 mln Twitter followers, doesn’t think that Bitcoin is the driver of his popularity.
The crypto baron unapologetically called the leading cryptocurrency ‘worthless’ in response to one user who claimed that people are only interested in his personality because of BTC.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.