-->Two big investing legends on Twitter are advising them to buy bitcoin, gold and silver because of the enormous debt of the US government. In a publication of March 11 on Twitter writes entrepreneur and investor Balaji Srinivasan that bitcoin is the only realistic escape route from the inevitable and unsustainable budget deficits.

Why? Because other assets, according to Srinivasan, are susceptible to confiscation; the seizure of assets by governments.

Government debt continues to grow

In his publication, Srinivasan writes that the US government’s debts and expenditures continue to grow in an unsustainable manner. The debt now totals $34.5 trillion; which represents an increase of 25 percent since 2020.

Balaji, a partner at Andreessen Horowitz (a16z) says there are four approaches to the problem: deny it exists, solve it through political processes, give up, or slaughter the beast with bitcoin; which is money they can’t take or print.

“The latter is radical, but realistic,” he says, before adding that America’s government debt is now increasing by $10 billion per day.

Buy bitcoin, gold and silver

Robert Kiyosaki echoes Srinivasan’s words. “The debt increases by $1 trillion every 90 days. America is sick. Start now. Buy more gold, silver and bitcoin. Be careful,” Kiyosaki said.

Another problem that may arise is the seizure of assets by the government.

To show that this is realistic, he gives some examples. Such as seizing the assets of protesting truck drivers in Canada, freezing Russian assets and “arming” Delaware against Elon Musk and New York against Trump.

“Private property is not protected by the state in a bankrupt and ‘blue’ America. Fortunately, we have bitcoin, which is not dependent on the state and cannot be simply taken,” the investor said.

Source: https://bitcoinmagazine.nl/nieuws/investeringslegendes-koop-bitcoin-om-jezelf-te-beschermen

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