Robert Kiyosaki, entrepreneur and author of the best-selling book “Rich Dad Poor Dad,” has called bitcoin (BTC), silver, and gold a “buying opportunity” amid a strengthening US dollar and continuing price rises. interest rates.
In an October 2 Twitter post addressed to his 2.1 million followers, The author noted that the prices of the three commodities – sometimes referred to as “safe haven” assets – would continue to decline as the US dollar strengthened, proving their value once the “Fed switched” and lowered interest rates. interest.
BUYING OPPORTUNITY: if FED continues raising interest rates US $ will get stronger causing gold, silver & Bitcoin prices to go lower. BUY more. When FED pivots and drops interest rates as England just did you will smile while others cry. take care
— therealkiyosaki (@theRealKiyosaki) October 2, 2022
BUYING OPPORTUNITY: If the Fed continues to raise interest rates, the US dollar will become stronger, causing gold, silver and bitcoin prices to decline. BUY more. When the FED changes and lowers interest rates like England just did, you will smile while others cry. Take care of yourself.
In a post the day before, Kiyosaki predicted that this “flip” could come as soon as January 2023, causing the US dollar to “crash” in the same way as the British pound, which recently plunged.
“Will the US dollar mimic the British pound? I think so. I think the US dollar will crash in January 2023 after the Fed changes,” Kiyosaki said.adding that he “won’t be a victim of the f*cking FED.”
Since May 2020, Kiyosaki has been a proponent of asset classes that the Fed cannot directly manipulate; once warned investors to “get bitcoin and save yourself” following episodes of immediate massive money printing by the Fed in response to the COVID-19 pandemic.
Interestingly, Kiyosaki’s fondness for bitcoin continues despite not believing it to have any value, he said in a recent Rich Dad interview. The author appears to support bitcoin again in his most recent tweet, noting:
“When the Fed changes and lowers interest rates, as England just did, you will smile while others cry.”
In a letter sent in September to his subscribers by mail, Kiyosaki underscored the need to invest in digital assets now to earn superior returns in the long run:
“It is not enough to WANT to enter the crypto space […] Now is the time you NEED to get into it, before the biggest economic downturn in history.”
The US dollar has been slowly gaining strength against other major world currencies over the past year, and GBP/USD, Euro/USD and Japanese Yen/USD are down 18.24%, 15.54% and 23.33% respectively, according to Trading Economics.
At the same time, the Fed’s interest rate hike, coupled with a strengthening dollar, has coincided with a 55% drop in cryptocurrency market capitalization over the last 12 months.
Last month, hedge fund co-founder CK Zheng said he expected October to be a “very volatile” month for BTC.
“October is quite a volatile time period, especially when combined with high inflation, with a lot of debate in terms of the Fed and policy change. The concern is that if the Fed pushes too hard, the US economy could go into a severe recession”.
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