Cryptocurrency

‘Rich Dad Poor Dad’ Author Says You Should Buy Bitcoin, Here’s Why

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Robert Kiyosaki, the famed author of the finance book ‘Rich Dad Poor Dad,’ has urged investors to start investing in bitcoin. Kiyosaki has recently pivoted to the crypto market and has been sharing his thoughts and insights regarding what he believes to be the right way to go about the crypto market. So far, the author’s stance on the digital asset has been very bullish as he urges investors to hold the cryptocurrency.

Buy Bitcoin Now

Over the last week, Kiyosaki has been warning investors about the hike in interest rates by the Fed. This comes after the most recent FOMC meeting, where the Fed has once again raised interest rates by another 75 basis points (bps). The Fed explains that the interest rate hikes are being done to fight the incredibly high inflation figures that had 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 which will help fight inflation. The most recent of these have come in the form of urging people to invest in bitcoin. Kiyosaki explains that if the Fed were to continue increasing interest rates, then the value of the dollar would go up, which would cause assets such as bitcoin to decline lower. However, it is common knowledge that the Fed can’t raise interest rates forever, and Kiyosaki explains that once they drop interest rates, then the value of assets such as bitcoin will skyrocket.

This is not the first time that the author will be predicting a drop in the value of the US dollar. In fact, in a previous tweethe revealed that he expected the dollar to crash in early 2023. The reasoning behind this is the Fed will have to go the way of England and reduce interest rates.

Other Assets To Invest In

Although Kiyosaki has urged investors to put money in bitcoin to be able to avoid and profit when the Fed drops interest rates, he has also put forward other assets he believes will do incredibly well in such an environment too.

The author put forward buying silver and gold as another option for investors. He anticipates the prices of these going lower alongside 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 previously posted that his gold and silver dealer had told him that the “mint” had stopped selling coins to him. He explains this as a tightening that means that the value of the dollar is going to decline. He predicts a 5x growth for silver during such times, urging investors to invest in some of these.

Kiyosaki’s thoughts on this are not new in any way. Investors have been using bitcoin as a hedge for inflation for years now, which has earned it the nickname “Digital gold.” However, if Kiyosaki’s predictions are accurate, then the next bull market will likely see an earlier kick-off than expected.

Featured image from Inversor Global, chart from TradingView.com

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