Robert Kiyosaki, businessman and best-selling author of Rich Dad Poor Dad, called bitcoin (BTC), silver and gold “buying opportunities” amid the strengthening US dollar and continued rise in interest rates.
In a Twitter post on October 2 to his 2.1 million followers, the author suggested that the prices of these three commodities – sometimes called “safe haven” assets – could continue to fall as the dollar strengthens the SA, which creates its value when the “FED pivots” and lowers interest rates.
BUYING OPPORTUNITY: if FED continues to raise interest rates US$ will become stronger and gold, silver and Bitcoin prices will go lower. Buy more. When FED drops and drops interest rates like England just did you will smile while others cry. Take care
— therealkiyosaki (@theRealKiyosaki) October 2, 2022
BUYING OPPORTUNITIES: If the Fed continues to raise interest rates, the US dollar will strengthen, leading to lower prices for gold, silver and bitcoin. Buy more. When the Fed wakes up and lowers interest rates like England did, you will smile and others will cry. Take care of yourself
— therealkiyosaki (@theRealKiyosaki) October 2, 2022
In a post the day before, Kiyosaki predicted that this ‘pivot’ could happen as early as January 2023, which would see the US dollar ‘crash’ in the same way that the pound sterling fell a short time ago.
“Will the US dollar follow the British pound? I believe him. I believe the US dollar will collapse by January 2023 after the Fed pivot. Kiyosaki said, adding that he “will not be a F*CKed FED victim.”
Since May 2020, Kiyosaki has been a proponent of asset classes that the Fed cannot directly manipulate, having warned investors to “get some bitcoin and run away” following an immediate episode of massive money printing by the FED in response to the COVID-19 pandemic.
Interestingly, Kiyosaki loves bitcoin despite not believing it has any value, as he said in a recent interview on Rich Dad. The author appears to support bitcoin again in his latest tweet, noting:
“When the FED wakes up and lowers interest rates like England did, you will smile while others cry. »
In a September letter to his post followers, Kiyosaki emphasized the need to invest in digital assets now, to achieve profound long-term returns:
“ASK is not enough to get into cryptocurrencies […] Now is the time you MUST get into cryptocurrency, before the biggest economic crash in history. »
The US dollar has gradually strengthened against other major global currencies over the past year, with the GBP/USD, euro/USD and Japanese yen/USD falling 18.24%, 15.54% and 23.33%, according to Economics Trade.
At the same time, the Fed’s interest rate hike, as well as the strengthening of the dollar, coincided with a 55% decrease in cryptocurrency market capitalization over the past 12 months.
Also read: The Decline of the British Pound and Its Impact on Cryptocurrency: Follow the Market Report
Last month, hedge fund co-founder CK Zheng said he expected October to be “very volatile” for BTC.
“October is quite a volatile time, especially when combined with high inflation, with a lot of Fed debate and policy change. The concern is that if the Fed tightens its policy too much, the US economy could slide into a deep recession. »
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Bitcoin: Dollar strong, Fed speech in Jackson Hole, Mt. Gox – a week of high tension 
Pound sterling: bitcoin as an emergency solution?
