Altcoin News

Kim Dotcom: The ‘US dollar will collapse, crypto and precious metals will go up’

Internet entrepenuer Kim Dotcom has advocated that cryptocurrencies will rise to replace the US dollar following a fiscal collapse.

In a new tweet – Kim Dotcom, the founder of MegaUpload and later Mega – has argued that the US economy and US dollar will eventually collapse under its debt burden, and will pave the way for ‘crypto and precious metals’ to take over.

Elaborating that his view operates in as little as a two-year timeframe, Dotcom quipped that ‘The pyramid game is coming to an end.’

Quoting an interview with the Washington Post where the Hudson Institute’s Irwin M. Stelzer argued that the US economy faces collapse should it continue to accrue debt and print trillions of US Dollars yearly, Dotcom argued that the US economy will face a recession similar to the 2008 financial crisis.

Earlier this year, the Federal Reserve Bank of New York’s Center for Microeconomic Data elaborated that total US household debt has reached $13 million USD; a record all-time high.

Dotcom himself has previously evangelized Bitcoin, and has urged investors to purchase the pre-eminent cryptocurrency before ‘US debt spirals out of control’.

The businessman has further outlined k!m – a new digital currency project intending to offer direct monetisation to content creators rather than rely on an intermediary. While the project has not as yet come to fruition, the decentralized ecosystem broadly functions similarly to other initiatives, such as Basic Attention Token.