Bitcoin protects against US debt crisis, according to experts.
Should you buy Bitcoin (BTC) now?
According to two crypto influencers at X, you should. Balaji Srinivasan and Robert Kiyosaki see the digital currency, along with gold and silver, as the best way to hedge against the potential consequences of rising national debts in the United States (US).
'Buy BTC, gold, and silver'
Balaji Srinivasan, former Chief Technology Officer of crypto exchange Coinbase, argues that we are in a phase where the US treasuries are being plundered. Srinivasan contends that government debt and wasteful spending continue to grow rapidly at unsustainable levels.
Srinivasan illustrates his point with examples of governments and legal entities seizing private properties and assets. These include the seizure of assets from protesting Canadian truckers, freezing of Russian assets, as well as legal confrontations in Delaware against Elon Musk.
The US national debt currently stands at a record high of 34.5 trillion dollars, a 25 percent increase since 2020. According to Srinivasan, Bitcoin offers an escape route because it cannot be seized by the state nor can it be printed.
The author of Rich Dad Poor Dad, Robert Kiyosaki, also advises preparing and investing in store of value assets such as bitcoin. He states that the United States is "sick." Kiyosaki points out that the US debt increases by as much as 1 trillion dollars every 90 days. To protect against this, he believes people should prepare for the worst by buying BTC, gold, or silver.
Last month, Kiyosaki expressed hopes for a bitcoin crash. In contrast to general concerns, Kiyosaki welcomes such a market move with open arms. His strategy is based on capitalizing on every market correction as an opportunity to acquire the scarce asset at lower prices.
MicroStrategy keeps buying
At MicroStrategy, they understand the scarcity of BTC very well. The company recently purchased 12,000 bitcoins for a total of 800 million dollars. This recent investment increases the company's total holdings to an impressive 205,000 BTC.
This strategic purchase was made at an average price of 68,477 dollars per coin, bringing MicroStrategy's total investment in bitcoin to 6.91 billion dollars. Thanks to these investments, the company is significantly profitable with a value increase of 112 percent.
