- October 5, 2022
- |Bitcoin, Crypto News, Cryptocurrency, Money
Rich Dad Poor Dad author Robert Kiyosaki is never shy about sharing his bold and often in-your-face financial predictions.
The notable businessman and author issued another ringing call-to-arms for the “poor to get rich” in an early October 2022 email blast.
He touted buying opportunities he believes will emerge in the coming months and encouraged followers to pay attention to activity by leading financial entities like the Federal Reserve.
Robert Kiyosaki Speaks The Truth
Kiyosaki also Tweeted to his 2.1 million followers on October 2nd that investors should buy Bitcoin, gold, and silver if the U.S. Dollar gets more robust based on higher interest rates and these asset prices slide downwards.
While, at first glance, this advice might seem counterintuitive – as Bitcoin’s price has dipped nearly 70% since its all-time high on November 10th, 2021 – Kiyosaki has the answer.
To him, when the “FED pivots” and slashes interest rates, the dollar will “crash” like the British pound. But, Kiyosaki asserts that at this point, Bitcoin and rigid asset holders will “smile when others cry.”
Kiyosaki Promotes Bitcoin, Drawing On Experience Of Profiting During Immense Financial Collapse
The noted author wrote just a day before that this “pivot” might occur as soon as January 2023.
Amid what he speculates as what could be the start of the “everything bubble turns into the everything crash,” – Kiyosaki believes cryptos like Bitcoin have a tremendous upside once the Federal Reserve halts interest rate hikes.
Despite not even believing Bitcoin has any value, he’s been adamant about standing behind the cryptocurrency, advising people during the COVID-19 pandemic to “get Bitcoin and save yourself.”
In Sunday emails to followers, Kiyosaki explained how he became rich in the middle of the mid-2000s housing bubble collapse. “The sales were so great I borrowed millions of dollars to grab all the real estate bargains I could,” he wrote.
While Kiyosaki’s made his case about Bitcoin’s prospects – others are less certain when surveying the economic landscape for October.
October’s Been Historically Strong For Bitcoin – But Do Today’s Market Forces Spell A Different Future?
The former head of valuation risk at Credit Suisse, CK Zheng, told CoinTelegraph how he expects October to be “very volatile” for the flagship crypto.
According to Zhang, the U.S. economy could shift into a sharp recession if the Federal Reserve tightens too much, which could drive up volatility for both stocks and cryptos.
However, others claim October has long been a favorable month for the asset. For example, Bitcoin was priced above $60,000 for 16 straight days in October 2021.
Kitco News analyst Jim Wyckoff argues that the dollar’s ‘rampage’ against other fiat currencies makes Bitcoin a viable alternative hedge that will help stabilize the crypto’s price as it attempts a significant movement.
Market intelligence firm Glassnote reports in its late September newsletter how most Bitcoin HODLers have not yet panicked – with the majority of coin movement coming by the hands of short-term holders.
Upon the October 3rd Wall Street open, some analysts believed Bitcoin reacted positively to U.S. manufacturing numbers that were lower than expected, with hopes that bulls could push the coin back across the $20,000 mark. If you are looking to heed Robert Kiyosaki’s warning about the fate of the American dollar, we can help. Choose Byte Federal. Go Bank, Yourself.