Robert Kyosaki, a renowned author of personal finance books (including the bestseller “Rich Dad Poor Dad” has predicted that the Bitcoin will crush in the aftermath of the COVID-19 Vaccine discovery. Kyosaki has always been a supporter of Bitcoin. In August, he made a similar prediction when he urged investors to buy Bitcoin a “major banking crisis.” Now, as the cryptocurrency is maintaining an uptrend in value, from a long-term perspective, the investor is urging the public to buy it again
Bitcoin has been gaining strength during this pandemic period. And, as the world is now looking forward to the COVID-19 Vaccine, the Bitcoin family has yet another anticipation, what the discovery of such a vaccine will mean to the Bitcoin market. Kiyosaki, the founder of Rich Dad company and Rich Global LLC, has declared that the COVID-19 race will affect the Bitcoin market. He stated that the prices of the digital currency and the two popular precious metals – Gold and Silver, will plummet when the effective COVID-19 if found. He suggested that it would be a big opportunity for investors to buy Bitcoin at the moment.
Max Keiser, the co-host of RT’s ‘Keiser Report’ also echoed Kyosaki’s thoughts. The former stockbroker, co-founder of the Hollywood Stock Exchange, an inventor of virtual currencies, and a bitcoin pioneer stated that Bitcoin and precious metals are currently the safest assets for investment. Talking of the dollar weakness, Keiser pointed at the moves of Berkshire Hathaway CEO, Warren Buffet. He showed concerns about the world-leading stock market investor moving away from the dollar and redirecting his focus on gold and the Japanese market. According to him, that is a red flag to the dollar.
The New COVID-19 Stimulus Proposal and Bitcoin
A new stimulus proposal bill is in the senate and they may sign it by the end of September this year. Bitcoin may benefit from this bill as it includes direct payments. This bill comes with no restriction on how Americans can spend the package. Therefore, more people will buy Bitcoin with their U.S. Stimulus package. The government is under pressure from economists to legalize decentralized payment for bitcoin to thrive after the vaccine is discovered.