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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 âRich Dad Poor Dad,â sees no reason to fear, though. In fact, the well-known investor recently went as far as to say that itâs time to drop dollars for Bitcoin (BTC) and other hard money.
In a recent tweet, Kiyosaki explained that with the Fed âcounterfeiting [âŠ] trillions of fake dollars â $82 billion a month to $125 billion a dayâ and interest rates at 0%, it makes sense to save âgold, godâs money, or Bitcoin, peopleâs money,â rather than the fiat dollars that donât yield anything and are being constantly debased.
He added in a later tweet that the dollar is likely âdying,â boosting the case to invest in gold, silver, and Bitcoin.
âDEATH 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.â
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 âBlack Thursdayâ crash, the exchange saw a dramatic surge in buying interest for cryptocurrency:
âBut 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.â
The U.S.-based Kraken corroborated this narrative, writing in a recent tweet that the exchange ârecorded an 83% rise in sign ups, and a 300% increase in verificationsâ over the past few weeks.
John McAfee Calls Bitcoin (BTC) âWorthless,â Shows Support for These Three Cryptocurrencies
Controversial antivirus mogul John McAfee, who boasts more than 1 mln Twitter followers, doesnât think that Bitcoin is the driver of his popularity.
The crypto baron unapologetically called the leading cryptocurrency âworthlessâ 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.
Show Notes / Resources:
It’s widely used among tens of thousands of us who no longer use banks, credit cards or paper currency.There is nothing that you need that can’t be bought through DAI, Monero or Ethereum.Homes, cars, hotels, air travel, food etc.Exceptions:â coffeeâ Pizza
â Hookers
â John McAfee (@officialmcafee) April 4, 2020
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.
â therealkiyosaki (@theRealKiyosaki) April 4, 2020
Traders Are Loading Up On Bitcoin Longs: What Does This Mean?
The U.S. Dollar is Dying, Buy Bitcoin: âRich Dad Poor Dadâ Author
https://u.today/john-mcafee-calls-bitcoin-btc-worthless-shows-support-for-these-three-cryptocurrencies
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