Recommendation to Buy Bitcoin as the United States Enters the Treasury Looting Phase
In the midst of an escalating national debt crisis in the United States, influencers on X are advocating Bitcoin as the only realistic solution to circumvent inflation. Cryptocurrency influencers are urging their followers to invest in Bitcoin, gold, and silver as safe havens against unsustainable government expenditures and potential asset confiscation.
Entrepreneur and venture capitalist Balaji Srinivasan argues that the United States is currently in the “treasury looting” phase of a falling empire, with government debts and frivolous spending rapidly growing at unsustainable levels. The national debt has reached a record $34.5 trillion, marking a 25% increase since 2020. Srinivasan, a general partner at Andreessen Horowitz (a16z) and former CTO of Coinbase, suggests that the solutions to this issue are denial, political action, surrender, or starving the beast with Bitcoin—a currency that the government cannot easily seize or print.
Robert Kiyosaki, author of “Rich Dad Poor Dad,” also advises being prepared and investing in valuable assets like Bitcoin. He highlights the alarming rate at which the national debt is increasing—by $1 trillion every 90 days—indicating a severe illness within America.
Moreover, Srinivasan warns of potential government asset confiscation in the face of financial audits. He cites instances such as the seizure of Canadian truckers’ assets, the blocking of Russian assets, and the weaponization of the legal system against Elon Musk and Donald Trump. He emphasizes that Bitcoin, which is independent of government control and difficult to confiscate, offers a safeguard against such government actions.
In March 2023, Srinivasan notably bet $2 million that Bitcoin would reach $1 million by June of the same year, amid extreme inflation in the United States. Upcoming economic and inflation data releases in the United States, including the Consumer Price Index (CPI) and Producer Price Index (PPI) for February, are expected to significantly influence the Federal Reserve’s stance in its March meeting.
Market data indicates a 97% probability that the Federal Reserve will maintain interest rates unchanged on March 20, with the current rate standing at 5.5% since July 2023. As the United States navigates through its debt crisis and inflationary pressures, Bitcoin emerges as a viable option for investors seeking to protect their wealth from government overreach and economic instability.
