According to Chris Burniske, a partner at Place Holder and former head of crypto at Ark Invest, the United States attempts to exert pressure on the crypto industry will have an adverse effect. In a recent TV interview on The Exchange, Burniske suggested that now is an opportune time to invest in Bitcoin and Ethereum, despite initial skepticism and ridicule towards the cryptocurrency industry. Burniske argued that the current financial upheaval underscores the value of Bitcoin, which was specifically designed to thrive in such conditions.
Finance experts bullish on crypto
Besides Burniske, two other financial experts – Mike McGlone and Robert Kiyosaki – have also expressed their views on cryptocurrencies in light of the current financial crisis and the collapse of banks.
During a separate interview, Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, suggested that the ongoing banking crisis is fueling the current surge in cryptocurrency values. McGlone emphasized that Bitcoin was created during the 2008-09 financial crisis, reinforcing that cryptocurrencies are uniquely suited to thrive in economic uncertainty.
According to McGlone, Bitcoin has demonstrated strong performance by rebounding above the $25,000 resistance level. He also noted that Bitcoin increasingly resembles gold and US Treasury Bonds, albeit in a more volatile form.
Kiyosaki’s crypto takeover
During an interview with VladTV, Robert Kiyosaki, the author of Rich Dad, Poor Dad, shared his reasons for purchasing a significant amount of Bitcoin when it was valued at only $6,000. Additionally, he criticized Warren Buffett’s stance on Bitcoin and cryptocurrencies, calling him an “idiot.” Kiyosaki also highlighted the potential for great buying opportunities in Bitcoin and Ethereum.
According to Kiyosaki, saving in dollars is not his preferred choice, and instead, he opts for purchasing gold, silver, bitcoin, and ether. Although he mentioned not liking cryptocurrency strongly, he acknowledged its value. These financial experts are advising against investing in cryptocurrencies at present.