As the US currency strengthens and interest rates surge, Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad has referred to Bitcoin (BTC), silver, and gold as a “buying opportunity.”
The author observed the prices of the Bitcoin and two other commodities, which are commonly referred to as “safe haven” assets, would continue declining as the US currency strengthened, confirming its value until the “FED pivots” and lowers interest rates in a tweet on October 2 to his 2.1 million followers.
The day before, Kiyosaki said in an article that this “flip” might occur as early as January 2023, causing the U.S. dollar to “fall” in a manner similar to the newly devalued British pound.
Will the American dollar adopt the British pound sterling? It will, I think. After the Fed pivots, the US currency will crash, in my opinion, by January 2023, Kiyosaki predicted, adding that he “will not be a victim of the F*CKed FED.”
A supporter of asset classes that the Fed cannot directly influence since May 2020, Kiyosaki once urged investors to “Get Bitcoin and save yourselves” in the wake of the Fed’s sudden, massive money creation activities in reaction to the COVID-19 outbreak.
Interestingly, Kiyosaki continues to like Bitcoin despite not thinking it has any value, as he stated in a recent Rich Dad interview. In his most recent tweet, the author appears to be supporting Bitcoin once more, writing:
“When FED pivots and drops interest rates as England just did you will smile while others cry.”
To achieve outsized returns over the long run, Kiyosaki emphasized the necessity to invest in digital assets immediately in a letter he sent to his mailing subscribers in September:
“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.”
According to Trading Economics, the U.S. dollar has gradually gotten stronger relative to other important world currencies during the past year, with declines in the GBP/USD, euro/USD, and Japanese yen/USD of 18.24%, 15.54%, and 23.33%, respectively.
At the same time, a 55% decline in the market capitalization of cryptocurrencies over the past 12 months has corresponded with the Fed’s interest rate hike and a strengthening USD.
CK Zheng, the co-founder of the hedge firm, predicted last month that BTC will experience “extremely tumultuous” trading in October.
“October is a highly volatile month, especially when high inflation is present, and there is a lot of discussion about the Fed and changing policy. The worry is that the U.S. economy could actually enter a severe recession if the Fed tightens monetary policy excessively.
