Kim Dotcom Urges Followers to Purchase BTC
Kim Dotcom, a veteran and well-renowned businessman and the creator of Megaupload, a file-sharing website, has just urged his 700K plus follower base on Twitter to stock up on purchases in gold and digital currencies as he believes the US dollar will lose all its value. Suggesting that the economy was about to face a crisis, his post on Twitter has stated that a significant crisis is absolutely on its way.
In many prior posts on his account, Kim spoke about the many reasons he believes what he does. One of his reasons explained is that the finance minister of Russia, who highlights the decline in USD investments and has viewed the USD as an unstable payment tool. As Dotcom explains, the ongoing problem with US debt has reached a point of becoming uncontrollable and believes that the USD will crash as a currency. He adds that the rate of debt among American families on an average is around $850K.
He also points to the fact that anyone believing that US debt can be handled by expanding the economy, taking on new debt or increasing the printing of USD has no idea what’s going on. A common observation in regards to cryptocurrencies is that they often perform exceptionally well during any period in which the economy is facing several concerns and worries. As reported previously, Turkey has also seen many of its citizens adopt cryptocurrencies as the country’s national currency, the Turkish Lira, drops in value.
Venezuela has also seen its own economic crisis in which inflation rose to unprecedented heights and several crypto-related communities offered their aid to Venezuelan citizens. Many communities poured funds and helped in the initiative to spread vendor adoption within the country while others contributed funding to aid the population during the economic crisis.
Dotcom’s post on Twitter was posted during a time in which BTC seems to be initiating a comeback after a recent drop in price. A small yet positive climb of about 3.5 percent up to $6.3K on the market, amidst the currently dominating bear trend. Dotcom has also allegedly discussed launching his own coin with media content creators in mind.