Bitcoin (BTC) is an essential investment every bit the world is near to face up a "major cyberbanking crisis," popular author Robert Kiyosaki has warned.

In a tweet on Aug. 21, the author of Rich Dad Poor Dad told followers that there was no fourth dimension to "recall about" investing in safe havens.

"Major banking crisis coming fast"

The reason, he said, was that Warren Buffett had chosen to dump bank stocks.

"WHY BUFFET is OUT OF BANKS . Banks broke. MAJOR Cyberbanking Crunch COMING FAST," he wrote.

"Fed & Treasury to take over banking system? Fed and Treasury 'helicopter imitation money' direct to people to avoid mass rioting? Not a fourth dimension to 'Call up about information technology.' How much aureate, silver, Bitcoin do you take?"

Kiyosaki is a well-known supporter of Bitcoin, oft advising the public to buy and actively business organisation itself with the downwardly trajectory of fiat currency.

The coronavirus crisis has only exacerbated his calls to exit dependency on fiat, in line with diverse Bitcoin proponents who fearfulness that coronavirus responses past governments have all only doomed already inflated paper money.

In the intervening period since March, when macro assets crashed en masse, both Bitcoin and precious metals have seen huge gains, fueled past the U.South. dollar currency alphabetize hitting its lowest in two years.

U.S. dollar currency index chart since March

U.Due south. dollar currency alphabetize chart since March. Source: TradingView

Dollar weakness versus eerie stock market records

August is seeing fresh worries over the state of the earth economy. In the The states, the Federal Reserve'south balance canvas, having previously dipped below $7 trillion, is now dorsum above that level — a sign of the central bank's continued intervention in traditional markets.

"Fed balance sail back >$7tn, giving investors the light-green light for farther stock mkt gains as S&P 500 P/E trades in tandem west/ Fed residue sheet," market commentator Holger Zschaepitz summarized.

The S&P 500 hitting tape highs this week, despite the dubiety associated with coronavirus and its financial touch on the average American.

Meanwhile, institutions remain increasingly focused on Bitcoin as an opportunity. Post-obit MicroStrategy's $250 meg purchase-in in late July, Bitcoin futures open interest striking an all-time high of $five billion this week.