- BRICS Crypto discussion is still one of the most prominent topics this year.
- The BRICS alliance controls a large portion of the USD used in international oil trade.
Bitcoin (BTC) has been yet again endorsed by Rich Dad Poor Dad author Robert Kiyosaki. Despite his penchant for making such predictions, he is of the opinion that the cryptocurrency may mitigate the effects of the US dollar downfall this time.
South Africa is one of the original members of the BRICS alliance, and Robert Kiyosaki has recently announced that he is now there. He made the observation that the government has charters outlining the process by which the BRICS nations would create BRICS Crypto. It should be noted that this BRICS Crypto discussion is still one of the most prominent issues coming out of the alliance this year.
US Dollar Under Pressure
The BRICS Crypto may use gold as collateral, according to Kiyosaki’s assessment. Robert Kiyosaki has speculated that the USD would be affected if the BRICS gold crypto asset materializes, while the specifics are still up in the air. A newly established cryptocurrency may make the fiat currency useless, as the BRICS alliance controls a large portion of the USD used in international oil trade.
Moreover, this will encourage the currency’s reintroduction to the US market, which has a domino effect. Robert Kiyosaki said that hyperinflation might be fueled by the possible repatriation of billions of dollars transferred back to the United States. Hyperinflation, according to historical patterns, will cause the dollar to lose value, which will have an effect on people’s ability to buy things.
Furthermore, Robert Kiyosaki suggested purchasing assets with a track record of success as a means to cushion the blow of a possible macroeconomic collapse. Among his preferred investments are Bitcoin, gold, and silver.
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