Despite Robert Kiyosaki's advice, the US government has been selling its Bitcoin holdings, recently offloading 58 BTC worth $4 million on Monday. Bitcoin advocate and billionaire investor Robert Kiyosaki is once again endorsing BTC, highlighting how the asset class could significantly benefit if Donald Trump becomes the next US President. Kiyosaki outlined several potential actions by a Trump administration that could boost economic activity, leading to a Bitcoin rally.
Trump's Plans for a Weaker USD
In a recent post on the X platform, the "Rich Dad Poor Dad" author stated that Donald Trump aims to weaken the US dollar to revive domestic industries. Kiyosaki explained that a weaker dollar would boost exports, create jobs, and stimulate new factory openings, thereby driving up the prices of gold, silver, Bitcoin, and stocks.
He further predicted that Trump would lower oil prices by increasing domestic oil production. “Trump is going to drill, drill, drill for oil, and the price of oil will come down,” he said.
Criticism of Biden's Policies
Conversely, Kiyosaki criticized President Joe Biden’s policies, particularly his decision to cancel the Keystone XL pipeline, which he claims caused oil prices to surge from $30 to $130 a barrel. Kiyosaki argued that this inflation adversely affected the poor and middle class and forced Biden to tap into America’s oil reserves, labeling the move as incompetent.
Broader Economic Implications
Alongside Kiyosaki, Elon Musk recently predicted the decline of the US dollar, suggesting that America could be heading toward bankruptcy. With the US dollar weakening, there is speculation that money could flow into BTC, potentially triggering a strong Bitcoin rally.
Kiyosaki also recently predicted an AI apocalypse that could result in millions of job losses. In such a scenario, he believes store-of-value asset classes like Bitcoin, gold, and silver would become crucial.
US Government's Bitcoin Holdings
Contrary to Kiyosaki’s advice, the US government has been partially selling its Bitcoin holdings, recently offloading 58 BTC worth $4 million on Monday. Investors are closely monitoring this development, wary of a situation similar to Germany, where the government sold a large 50,000 BTC stash in less than a month.
Donald Trump is set to appear at the upcoming Bitcoin Conference later this week, where it is anticipated he might announce plans to make BTC a strategic reserve if he wins the upcoming elections.
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