“Rich Dad, Poor Dad” author Kiyosaki on when and why you should buy Bitcoin
Bestselling business writer and financial markets expert Robert Kiyosaki has once again shared his thoughts on Bitcoin and some other assets, drawing on his harsh criticism of the Fed.
According to Kiyosaki, the Fed is screwed and will continue to raise rates, which will cause commodity assets and Bitcoin to fall. During this period, it is necessary to buy these assets, the author believes. Further, according to Kiyosaki, in January 2023, the Fed will turn around and start to reduce the rate, which will cause the collapse of the dollar and the growth of Bitcoin, silver and gold.
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
If you take this opportunity, the moment at which everyone else cries, you can smile because you have not fallen victim to the Fed, the writer concluded.
Current state of crypto market
At the moment, the situation on the crypto market is uncertain. On the one hand, October began, which traditionally proceeded with optimism on the background of an usually negative September and was, therefore, called Uptober.
On the other hand, the background is clouded by the Fed’s tight monetary policy, trying to curb historically high inflation, so it is inappropriately tied to the crypto market. This week, we have a number of events and speeches from Federal Reserve officials, which is always fraught with increased volatility.
Among other things, additional pressure on cryptocurrencies is now coming from Credit Suisse, a large banking conglomerate, rumors of whose possible bankruptcy have emerged today.