Rich Dad Poor Dad Author Says You Should Buy Bitcoin, Here’s Why
Robert Kiyosaki, the famous author of the financial book ‘Rich Dad, Poor Dad’, has urged investors to start investing in bitcoin. Kiyosaki has recently turned to the crypto market and has shared his thoughts and insights on what he believes is the right way to go about the crypto market. So far, the author’s stance on the digital asset has been very positive as he urges investors to hold the cryptocurrency.
Buy Bitcoin now
Over the past week, Kiyosaki has warned investors about the rate hike by the Fed. This comes after the last FOMC meeting, where the Fed has once again raised interest rates by another 75 basis points (bps). The Fed explains that the rate hikes are being done to combat the incredibly high inflation numbers that have been recorded in recent months, but the author had accused the Fed of actually causing the inflation.
Kiyosaki has repeatedly advised investors to invest in other assets that will help fight inflation. The latest of these has come in the form of encouraging people to invest in bitcoin. Kiyosaki explains that if the Fed were to keep raising interest rates, then the value of the dollar would go up, which would cause assets like bitcoin to sink lower. However, it is common knowledge that the Fed cannot raise interest rates forever, and Kiyosaki explains that when they lower rates, the value of assets like bitcoin will skyrocket.
BUYING OPPORTUNITY: If the FED continues to raise interest rates, the US$ will strengthen and push gold, silver and Bitcoin prices lower. Buy more. When the FED swings and lowers interest rates like England just did, you will smile while others cry. Have a good time
— therealkiyosaki (@theRealKiyosaki) 2 October 2022
This is not the first time the author will predict a fall in the value of the US dollar. Actually in an earlier one chirpinghe revealed that he expected the dollar to crash in early 2023. The reasoning behind this is that the Fed will have to go the way of England and cut interest rates.
Other assets to invest in
Although Kiyosaki has urged investors to put money into bitcoin to avoid and profit when the Fed lowers interest rates, he has also laid out other assets he believes will do incredibly well in such an environment as well.
The author put forward buying silver and gold as another option for investors. He expects the prices of these to go down along with the price of bitcoin and then a reversal in January 2023 when he expects the crash to happen.
BTC at $19,223 | Source: BTCUSD on TradingView.com
Kiyosaki had earlier posted that his gold and silver dealer had told him that the “mint” had stopped selling him coins. He explains this as a tightening which means that the value of the dollar will decrease. He predicts a 5x growth for silver in such times, and encourages investors to invest in some of these.
Kiyosaki’s thoughts on this are not new by any means. Investors have been using bitcoin as a hedge against inflation for years now, earning it the nickname “Digital Gold.” But if Kiyosaki’s predictions are accurate, the next bull market is likely to get off to an earlier start than expected.
Featured image from Inversor Global, chart from TradingView.com
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