Rich Dad, Poor Dad Author Believes Buying Bitcoin Now Will Make You Smile Later
The author of the best-seller believes the US Federal Reserve will continue to raise interest rates, which will ultimately push the prices of BTC, gold, and silver down even more.
However, this presents a good buying opportunity that could make investors smile in the future.
Buy BTC Now, Says Kiyosaki
Robert Kiyosaki used to be among the bitcoin critics, but the COVID-19-induced crisis changed his mind, and he has placed it next to commodities such as gold and silver ever since.
In his latest tweet on the matter, he touched upon the Fed’s monetary policy for the past several months, in which the central bank raises the interest rates in hopes of fighting the galloping inflation.
So far, bitcoin has met each interest rate hike with volatility, usually heading south. Stock prices have also plummeted in the past several months. Even more stable assets such as gold and silver are down from their recent peaks.
At the same time, the USD has been on the rise, reaching an all-time high against the euro and a multi-year peak against the British pound. Kiyosaki believes this trend will continue as long as the Fed keeps increasing the interest rates, meaning that BTC, as well as gold and silver, could lose even more value against the greenback.
However, he argued that this is a “buying opportunity,” which will make investors who purchase those assets now smile once the Fed “pivots and drops the interest rates as Englang just did.”
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
Peter Schiff Comes to Play
There’s rarely a case when someone as famous as Kiyosaki speaks out on Twitter about gold or bitcoin, and Peter Schiff, the ultimately BTC basher, doesn’t comment. Somewhat surprisingly, though, he didn’t use the opportunity to criticize bitcoin in this particular case.
Instead, Schiff argued that it’s possible “gold and silver prices have already bottomed. The first pivot domino already fell.” He added that the markets have not realized it yet, and advised people to “buy your gold and silver now, while prices are still cheap.”
Featured Image Courtesy of Suno
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