Bitcoin Bull Market on the Horizon According to Kiyosaki and Hayes
Robert Kiyosaki – an American businessman, investor and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – believes that the current crisis in the banking sector will intensify. As such, he advised investors to focus on bitcoin, gold and silver, arguing that these assets could save them amid the potential turbulence.
BTC has quickly recovered ground after plunging significantly on the news of Silicon Valley Bank’s collapse. Despite the ongoing uncertainty in the monetary system, it passed the $22K mark, leading many to believe that it will soon start another bull run. Arthur Hayes seems to be a proponent of this thesis.
Same advice
In a recent post on Twitter, Kiyosaki said the current crisis will prompt central banks to print more “fake money” in response. In his view, the move will not erase the problem, but “invade sick economy.” He urged investors to buy more bitcoin, gold and silver to overcome such a disaster.
The last mass printing of fiat occurred shortly after the covid-19 outbreak. Back then, many central banking institutions, including the US Federal Reserve, stimulated the closed economy with trillions of newly printed dollars. While the policy had its short-term positive effect, it created (among other factors) record inflation in many countries.
The course in the USA surpassed 9% last summer (a figure last seen in 1981). Before you reached the top, Kiyosaki encouraged consumers to avoid saving dollars and instead accumulate “God’s money” – gold – or “the people’s money” – bitcoin.
It is worth noting that the American, who was among the few who predicted the financial collapse of 2008, recently predicted another “giant” market crash. In his view, the potential uproar could push bitcoin’s price toward $500,000 over the next three years, while the yellow metal could reach $5,000.
Bull Market on the Horizon?
Bitcoin’s upbeat performance (against the current monetary turmoil) has led some to argue that crypto winter is over. Arthur Hayes – co-founder of BitMEX – asked his more than 340,000 followers on Twitter if they are ready for a bull market.
Several months ago, he meant that the negative trend in the cryptocurrency sector will change when Hong Kong and China open their arms to the industry. The special administrative region has recently emerged as a blockchain hub, with Huobi applying for a trading license.
Some media suggested that Hong Kong’s push into crypto might have done so received quiet support from mainland China. Remember that all types of digital asset activities were banned in the world’s most populous country in 2021.
