Kim Dotcom touts crypto market: 'House of cards could come tumbling down'

Internet legend promotes investing in cryptocurrencies to protect against economic collapse.

Kim Dotcom, founder of share-hosting services Mega and Megaupload, who describes himself as an entrepreneur, innovator, gamer, artist, and “freedom-for-internet fighter,” is causing a stir in the crypto space with a post today, September 9. He also shares the portal’s message on the same day. Sputnik News, “that emergency measures [in the U.S.] put in place to raise cash may soon be exhausted.”

In his Twitter post, he writes on September 9, 2021:

More money printing is inevitable. But not without the risk of hyperinflation. The money printing machine has been running non-stop for years. There are limits. The house of cards could collapse. Prepare for a global economic collapse. Get out of stocks and USD. Buy cryptocurrencies!

Kim Dotcom, Twitter, Sept. 9, 2021

The Kiel native and one-time Black Hat hacker is making his opinion pretty clear. While Kim Dotcom leaves it open exactly which cryptocurrencies he is referring to, he still received a lot of encouragement from the community in the comments to his post for his bullish statements.

Who is Kim Dotcom?

Kim Dotcom (born Kim Schmitz) became a millionaire with his data exchange platform Megaupload – and at the same time a living legend of the Internet age, it is impossible to imagine the annals of file sharing history without him.

However, he distanced himself from the company after a Chinese investor took over, explaining his decision as follows: “The company has suffered from a hostile takeover by a Chinese investor after being investigated in China for fraud … I don’t think your data is safe with Mega anymore.”

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Since 2012, he has been in the crosshairs of the FBI and global justice at the same time for alleged years of copyright infringement. Because of this, his assets were initially frozen and the assets of the New Zealander-by-choice were seized by police based in Australia’s neighboring country. Since then, the US has been demanding Dotcom’s extradition. This has so far been delayed due to legal errors. Most recently, after Dotcom filed a lawsuit in the Supreme Court against his extradition to the United States and the New Zealand judiciary reduced the number of possible charges as a result – due to technicalities. Kim Dotcom rejects on his website under the heading U.S. Government vs. You&Kim Dotcom denies any accusations.

Although the 47-year-old is not a New Zealand citizen (he holds German and Finnish citizenship), Kim Dotcom is nevertheless politically active in his adopted country. In 2014, for example, he founded the “Internet Party”, which campaigns for faster and more secure connections to the Internet and more freedom on it.