Robert Kiyosaki, businessman and best-selling writer of Rich Dad Poor Dad, has known as Bitcoin (BTC), silver and gold a “buying opportunity” amid the strengthening United States dollar 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 — generally referred to as “safe haven” belongings — would proceed getting decrease as the United States dollar 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. dollar “crash” in the identical means as the just lately collapsed British pound.
“Will the US dollar follow English Pound Sterling? I believe it will. I believe US dollar will crash by January 2023 after Fed pivots,” mentioned Kiyosaki, including he “will not be a victim of the F*CKed FED.”
Since as early as May. 2020, Kiyosaki has been a proponent for asset lessons that the Fed can’t immediately manipulate, having as soon as warned buyers to “Get Bitcoin and save yourself” following the Fed’s rapid mass cash printing episodes in response to the COVID-19 pandemic.
Interestingly, Kiyosaki’s liking for Bitcoin stands regardless of not believing there’s any worth to it, he mentioned in a latest interview on Rich Dad. The writer seems to be standing behind Bitcoin once more in his most up-to-date tweet, noting:
“When FED pivots and drops interest rates as England just did you will smile while others cry.”
In a September letter to his mailed subscribers, Kiyosaki confused the necessity to spend money on digital belongings now in an effort to rating outsized returns over the long run:
“It’s not enough to WANT to get into crypto […] Now is the time you NEED to get into crypto, before the biggest economic crash in history.”
The U.S. dollar has been steadily gaining power over different main world currencies during the last yr, with the GBP/USD, euro/USD, and Japanese yen/USD falling 18.24%, 15.54%, and 23.33% respectively, in response to Trading Economics.
At 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 during the last 12 months.
Related: The British pound collapse and its influence on cryptocurrency: Watch the Market Report
Last month, hedge fund co-founder CK Zheng mentioned he anticipated October to be a “very volatile” month for BTC.
“October is a pretty volatile period of time, 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 tightens too much, the U.S. economy may actually go into a severe recession.”