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Concerns over new gold-backed cryptocurrencies backed by emerging countries in the BRICS bloc are looming over the US dollar. Investor Robert Kiyosaki intends to counter this major destabilizing risk by putting his faith back in Bitcoin.
An approaching threat to the US dollar!
BRICS founding member Robert Kiyosaki made a rather alarming discovery during a visit to South Africa. In fact, this alliance of emerging nations is considering launching its own gold-backed cryptocurrency soon.
It's a chilling prospect for American investors. If the BRICS virtual currency is adopted for international oil trading, it could spell the end of the US dollar's hegemony in this strategically important economic sector.
According to Kiyosaki, a wholesale rejection of the dollar would lead to an unrestricted influx of currency into the United States, risking hyperinflation that would be devastating to Americans' purchasing power. Star investors take real economic threats seriously.
Bitcoin, Robert Kiyosaki's strategic choice!
In the face of this grim scenario, Robert Kiyosaki reiterates his advice to invest heavily in assets that can maintain their value even in the face of rampant inflation. Among them, gold, silver, and most of all…Bitcoin!
Indeed, in Kiyosaki's view, Bitcoin has many benefits that prevent economic disruption. Its deflationary nature and increasing international adoption make it an ideal weapon to protect personal wealth from the throes of a potential financial crisis.
This plea is not new to American investors. Last year, he already predicted that Bitcoin would exceed $300,000 by the end of 2024. This conviction prompted him to invest regularly in this promising digital asset.
There is no guarantee that the BRICS will actually be able to impose future gold-backed digital assets on the world. Meanwhile, Robert Kiyosaki's warning is a salutary call to caution. It seems more prudent than ever to prepare for the worst by diversifying your investments into safe havens. And despite repeated bouts of volatility, Bitcoin is now one of the most reliable options.
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Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
