Celente pointed out that the collapse will be triggered mainly by emerging global economies that heavily rely on the dollar coupled with a debt crisis that is likely to accelerate this year, he said during an interview with Kitco News on January 18. According to Celente, governments will use CBDCs in the wake of a global economic collapse as part of rectifying the mess created by fiat currencies. He also warned about the risks of surveillance with the rollout of CBDCs.
Bitcoin’s future under threat
Furthermore, he suggested that once governments switch to digital currencies, the existence of Bitcoin (BTC) could be threatened. Celente noted that CBDCs would push governments to eliminate any competition, and Bitcoin might be among the main casualties. Based on the threat posed by the government, the forecaster stated that he no longer believes in the maiden cryptocurrency’s future. His warning comes as Bitcoin attempts to build momentum above $21,000 after starting the year in a green zone alongside the general crypto market. In this case, Celente termed Bitcoin’s latest price movement as a solidification, having consolidated below the $17,000 level for several weeks. Watch full video below: Featured image via Stansberry Research YouTube Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
