The businessman and best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, has termed Bitcoin (BTC), silver, and gold a “buying opportunity” amid a rising US currency and ongoing interest rate hikes.
The author stated in an Oct. 2 tweet to his 2.1 million followers that the prices of the three commodities — frequently referred to as “safe haven” assets — would continue to fall as the US dollar strengthened, confirming its worth until the “FED pivots” and lowers interest rates.
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
Kiyosaki forecasted in a post the day before that this “shift” might occur as soon as January 2023, with the US dollar “crashing” in the same way that the British pound did recently.
“Will the US dollar follow the British pound? I think it will. “I believe the US dollar will crash in January 2023 once the Fed pivots,” Kiyosaki predicted, adding that he “will not be a victim of the F*CKed FED.”
Since May 2020, Kiyosaki has advocated for asset classes that the Fed cannot directly manipulate, warning investors to “Get Bitcoin and rescue yourself” in reaction to the Fed’s sudden mass money creation operations.
Interestingly, Kiyosaki still likes Bitcoin despite not believing it has any value, as he stated in a recent Rich Dad interview. In his most recent tweet, the author appears to be rallying behind Bitcoin once more, noting:
“When FED pivots and drops interest rates as England just did you will smile while others cry.”
According to Trading Economics, the US dollar has gradually gained strength over other major global currencies over the last year, with the GBP/USD, euro/USD, and Japanese yen/USD decreasing 18.24%, 15.54%, and 23.33%, respectively.
Simultaneously, the Fed’s interest rate hike, combined with a rising USD, has resulted in a 55% reduction in the crypto market cap over the last year.
Last month, hedge fund co-founder CK Zheng predicted that BTC will be “extremely turbulent” in October.
“October is a highly volatile month, especially when combined with high inflation, and there is a lot of debate about the Fed and policy shift.” The fear is that if the Fed tightens too much, the US economy may enter a catastrophic recession.”
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