Robert Kiyosaki, businessman and best-selling creator of Wealthy Dad Poor Dad, has referred to 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 publish to his 2.1 million followers, the creator famous the costs of the three commodities — generally known as “protected haven” belongings — would proceed getting decrease as the USA greenback strengthens, proving its value 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 publish the day earlier than, Kiyosaki predicted this “pivot” might occur as quickly as January 2023, which might see the U.S. greenback “crash” in the identical manner because the lately collapsed British pound.
“Will the US greenback observe English Pound Sterling? I consider it can. I consider 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 mentioned in a current interview on Wealthy Dad. The creator 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 confused the necessity to put money into digital belongings now to be able 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 largest financial crash in historical past.”
The U.S. greenback has been steadily gaining energy over different main world currencies over the past yr, with the GBP/USD, euro/USD, and Japanese yen/USD falling 18.24%, 15.54%, and 23.33% respectively, in keeping with Buying and selling Economics.
On the identical 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 risky” month for BTC.
“October is a fairly risky time period, particularly when mixed with excessive inflation, with a variety of debate when it comes to the Fed and coverage change. The priority is that if the Fed tightens an excessive amount of, the U.S. financial system may very well go right into a extreme recession.”
