Robert Kiyosaki calls Bitcoin a ‘buying opportunity’ as US dollar surges
Robert Kiyosaki, businessman and best-selling writer of Wealthy Dad Poor Dad, has known as Bitcoin (BTC), silver and gold a “shopping for alternative” amid the strengthening United States greenback and continued rate of interest hikes.
In an Oct. 2 Twitter submit to his 2.1 million followers, the writer famous the costs of the three commodities — typically known as “protected haven” belongings — would proceed getting decrease as america greenback strengthens, proving its price as soon as the “FED pivots” and drops rates of interest.
BUYING OPPORTUNITY: if FED continues elevating rates of interest US $ will get stronger inflicting gold, silver & Bitcoin costs to go decrease. BUY extra. When FED pivots and drops rates of interest as England simply did you’ll smile whereas others cry. Take care
— therealkiyosaki (@theRealKiyosaki) October 2, 2022
In a submit the day earlier than, Kiyosaki predicted this “pivot” may occur as quickly as January 2023, which might see the U.S. greenback “crash” in the identical means because the just lately collapsed British pound.
“Will the US greenback comply with English Pound Sterling? I imagine it can. I imagine US greenback will crash by January 2023 after Fed pivots,” mentioned Kiyosaki, including he “won’t be a sufferer of the F*CKed FED.”
Since as early as Might. 2020, Kiyosaki has been a proponent for asset courses that the Fed can’t straight manipulate, having as soon as warned buyers to “Get Bitcoin and save your self” following the Fed’s speedy mass cash printing episodes in response to the COVID-19 pandemic.
Apparently, Kiyosaki’s liking for Bitcoin stands regardless of not believing there’s any worth to it, he said in a latest interview on Wealthy Dad. The writer seems to be standing behind Bitcoin once more in his most up-to-date tweet, noting:
“When FED pivots and drops rates of interest as England simply did you’ll smile whereas others cry.”
In a September letter to his mailed subscribers, Kiyosaki stressed the necessity to spend money on digital belongings now with the intention to rating outsized returns over the long run:
“It’s not sufficient to WANT to get into crypto […] Now’s the time you NEED to get into crypto, earlier than the most important financial crash in historical past.”
The U.S. greenback has been steadily gaining energy over different main international currencies over the past yr, with the GBP/USD, euro/USD, and Japanese yen/USD falling 18.24%, 15.54%, and 23.33% respectively, according to Buying and selling Economics.
On the similar time, the Fed’s rate of interest hike, together with a strengthening USD has coincided with a 55% drop within the crypto market cap over the past 12 months.
Associated: The British pound collapse and its affect on cryptocurrency: Watch the Market Report
Final month, hedge fund co-founder CK Zheng mentioned he anticipated October to be a “very unstable” month for BTC.
“October is a reasonably unstable time frame, particularly when mixed with excessive inflation, with plenty of debate by way of the Fed and coverage change. The priority is that if the Fed tightens an excessive amount of, the U.S. economic system may very well go right into a extreme recession.”