Robert Kiyosaki is a businessman and best-selling author, Rich Dad Poor Dad. He called Bitcoin ( BTC), gold and silver a “buying opportunity” in the face of the strengthening United States Dollar and ongoing interest rate increases.
The author of this tweet, Oct. 2, posted to his 2.1 Million followers that the prices for the three commodities, sometimes called “safe haven assets”, would continue to fall as the United States dollar strengthens. This will prove its value once the Fed pivots and lowers interest rates.
BUYING OPPORTUNITY. If the FED keeps raising interest rates, US$ will become stronger. This will cause gold, silver and Bitcoin prices to drop. Buy more. You will be able to smile and make others laugh when FED lowers interest rates, as England did. Take care
— therealkiyosaki, @theRealKiyosaki
October 2, 2022
Kiyosaki had predicted that this pivot could occur as early as January 2023 in a previous post. This would cause the U.S. Dollar to “crash” in much the same manner as the collapsed British pound.
“Will the US Dollar follow the English Pound Sterling?” It will, I am certain. Kiyosaki stated that he believes the US dollar will crash by January 2023 following Fed pivots. He also said that he would not be a victim to the F*CKed FED.
As early as May. 2020. Kiyosaki is a proponent of asset classes that the Fed can’t directly manipulate, having warned investors to “Get Bitcoin, and save yourself” after the Fed’s immediate mass money print episodes as a response to the COVID-19 pandemic.
Interestingly, Kiyosaki still likes Bitcoin, even though he doesn’t believe it has any value, he stated in an interview with Rich Dad. In his latest tweet, the author seems to have backed Bitcoin once again.
“When FED pivots to drop interest rates like England, you’ll smile while others will cry.”
In a September letter to his subscribers by mail, Kiyosaki highlighted the importance of investing in digital assets immediately to reap the benefits over the long-term.
It’s not enough that you WANT to get in crypto […] Now, is the time to do it before the worst economic crash of history.”
Over the past year, the U.S. dollar has steadily gained strength against other major global currencies, with GBP/USD, euro/USD and Japanese yen/USD falling 18.24% and 15.54% respectively, according To Trading Economics.
At the same time, the Fed’s interest rate hike, along with a strengthening USD has coincided with a 55% drop in the crypto market cap over the last 12 months.
Related: Watch the Market Report: Watch the Market Report: Watch the British Pound collapse and its effect on cryptocurrency
Last month, hedge-fund co-founder CK Zing stated that he expects October to be a volatile month for Bitcoin.
October is volatile, especially with high inflation and a lot of discussion about the Fed’s policy changes. There is a concern that the Fed could tighten too much and lead to a serious recession in the U.S.