National Debt Skyrockets: Economist Warns of Dollar Collapse and Bitcoin’s Rise

As national debt in the US skyrockets to a record high of $35.27 trillion, the cryptocurrency market is on edge as economist Max Keiser, an esteemed crypto enthusiast and hacker, warns of widespread economic instability and potential collapse of the dollar in six months.

Keiser stated that the sky-high national debt has created a perfect storm for Bitcoin to become the only safe cryptocurrency in the market. The national government’s debt growth has been alarming, with an unprecedented $1 trillion increase in eight months, from $34 trillion in January 2024. This has raised concerns among cryptophiles and economists alike, as many consider the situation incredibly dire.

The US dollar’s demise is imminent, and Keiser believes that Bitcoin offers only a temporary respite from the financial crisis. This assertion is not untrue, as the per capita debt has hit an all-time high of $104,568 per citizen, which has caused some to question the sustainability of the US economy and warned about potential economic collapse.

With its limited supply and decentralized nature, Bitcoin can serve as a source of encouragement for those who want to maintain their wealth. Robert Kiyosaki, renowned economist and crypto strategist, shares Keiser’s position and predicts that Bitcoin will gain over $100,000 in value as the US continues to escalate its national debt.

The assumption made by Kiyosaki is that Bitcoin will be a safe haven for investors, resulting in an increase in its value. Keiser’s criticism is particularly sharp when it comes to other digital currencies, as he categorizes them as “s-coins” that lack the same level of safety and scarcity as Bitcoin. He specifically mentions TON, ADA, DOS, EOS, and ETH as examples of cryptocurrencies that are at risk of collapse.

Despite the significant drop in TON, which plummeted by more than 15% following the arrest of its founder Pavel Durov, Keiser remains skeptical about the implications for the crypto market. Many investors are now making desperate attempts to shift their portfolios away from high-yield stocks due to the possibility of an economic collapse.

The US dollar is in a precarious position, and the world is patiently waiting for Keiser’s deadline. As time passes by, the crypto market will be closely monitoring the US economy. Is it possible that Bitcoin will become the most secure asset, or will the crypto market collapse under the influence of global economic fluctuations?

While we may not see a dip in prices, investors should exercise caution and be cautious as this could negatively impact their investment prospects. The era of complacency is now over, and the crypto market is ready to make an impact.

For more information on the impact of national debt on the cryptocurrency market, check out this article on CoinSeeks.com: National Debt and Cryptocurrency Market: What You Need to Know.