In the wake of an intriguing announcement, a significant sentiment stir has been observed in the global crypto community. Robert Kiyosaki, esteemed author of the famously known finance book ‘Rich Dad Poor Dad’, teased a rather ominous outlook for the U.S. dollar. Following the alleged alliance agreed upon by BRICS nations to establish a gold-backed currency, Kiyosaki expressed his forecasts for the forthcoming “demise” of the U.S. dollar, further stirring the crypto pot with a bold Bitcoin surge prediction – a towering $120,000 per coin.
Such an assertive insight from Kiyosaki isn’t unusual. Known for his affinity towards precious metals and Bitcoin over government currency, he has a reputation for his typically dramatic doomsday forecasts for the U.S. economy and financial system. While his rather apocalyptic prophecies don’t always exactly align with reality, his wavering confidence in the U.S. dollar is increasingly resonating within the crypto community.
Notably, earlier this year, BitMEX co-founder Arthur Hayes delivered his take on the economic situation, suspecting the fracture of the world into multiple currency blocs amid USD inflationary pressures. This pointed towards a potential toppling of the dollar’s long-held position as world reserve currency.
Distinctly echoing this sentiment, Circle CEO Jeremy Allaire suggested an ongoing and ‘active de-dollarization’. He pointed towards the dwindling confidence in the U.S. banking system following the Silicon Valley Bank’s failure as a potential cause. Even the former U.S. President Donald Trump, known for his cautious Bitcoin skepticism, hinted at an impending downfall of the dollar as it lost its world reserve status.
Fresh winds of change have been noticed with countries indicating a shift away from the use of USD for global trade. Illustrating this trend, a liquified natural gas agreement was settled in CNY between Chinese and French energy companies. Shortly after, Brazil and China decided to trade using their natural currencies, further diminishing their reliance on the USD.
This evolving landscape doesn’t solely host the BRICS nations (Brazil, Russia, India, China, and South Africa). 41 other countries have reportedly shown interest in joining the gold-backed currency alliance. Only time will indicate the true impact of these decisions, but one thing is certain – the U.S. dollar’s place on the global financial throne is under increasing scrutiny and the cryptocurrency markets are poised to capitalize.
Source: Cryptonews
