Kim Dotcom warns of financial collapse, urges followers to buy crypto and gold

  • August 12, 2018
  • 6:39 pm ET

Img via @KimDotcom

Internet entrepreneur Kim Dotcom took to Twitter to warn his followers that tough times are coming and urges people to invest in cryptocurrency and gold as a hedge against the U.S. Dollar.

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Kim Schmitz, aka Kim Dotcom, is an internet entrepreneur and political activist most known for his now-defunct file hosting service Megaupload. Over the last few days, he has taken to Twitter to warn of an impending economic collapse in the United States and urged his followers to invest in crypto and gold.

In a Tweet he posted on August 8th, he commented on the massive growth of the US debt, which he thinks will eventually lead to a worldwide economic collapse.

According to a recent report from the Congressional Budget Office, the federal deficit has risen 20% in the last 10 months, so it seems Dotcom’s warnings might not be totally unfounded.

The Hill recently reported that “the rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending.”

In his next tweet, he outlined a sequence of events that will enable the people to “get their power back,” as he thinks cryptocurrency and blockchain technology can replace government control over the world’s financial systems.

Today, Dotcom continued to comment on the US debt, claiming it has become “unmanageable” and quoted the Finance Minister of Russia speaking about the risks of the US Dollar. He exclaimed his followers “the big crash is coming 100%,” and again recommends to “buy crypto and gold.”

Dotcom has been a long-time advocate of cryptocurrency but is currently fighting an extradition battle from New Zealand relating to accusations of copyright infringement, racketeering, and money laundering.

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