Kim Dotcom, Megaupload creator, pirate and Bitcoin enthusiast, has warned Americans and those further afield that an “economic collapse” is near, and investing in crypto is the answer.
Writing on Twitter, Dotcom explained that US Government debt is snowballing and, in order to stay afloat, citizens should trade their dollars in for gold and Bitcoin.
He wrote: “1 TRILLION DOLLARS in additional US Govt debt PER YEAR! US spending is funded by lenders who will never get paid. US Empire will collapse followed by a world wide economic collapse. Shift your USD into Gold & Bitcoin asap before USD becomes toiler paper.
“Trump was handed an Empire on life support… There is no sugar coating this. US Empire is broke. Prepare for collapse. Gold and Bitcoin.”
Dotcom is a controversial figure and so his words must be taken in context, but according to The Hill (which the tweet cited), the deficit will reach $793 billion by the end of 2018 before approaching $1 trillion next year.
The federal deficit rose by 20 per cent in the first ten months of the 2018 fiscal year.
In a series of follow-up tweets, Dotcom added: “Trust me. Buy crypto and gold. Your USD will become worthless. With US economic collapse all old money currencies will crash. Times will get tough. But you’ll be fine if you hedge some of your assets in preparation for the crash. The big crash is coming 100%.”