The businessman and best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, has termed Bitcoin (BTC), silver, and gold a “buying opportunity” amid a rising US currency and ongoing interest rate hikes, Cointelegraph noted.
The author stated in an Oct. 2 Twitter tweet to his 2.1 million followers that the prices of the three commodities — frequently referred to as “safe haven” assets — would continue to fall as the US dollar strengthened, confirming its worth until the “FED pivots” and lowers interest rates.
According to Cointelegraph, Kiyosaki forecasted in a post the day before that this “shift” might occur as soon as January 2023, with the US dollar “crashing” in the same way that the British pound did recently.
Since May 2020, Kiyosaki has advocated for asset classes that the Fed cannot directly manipulate, warning investors to “Get Bitcoin and rescue yourself” in the aftermath of the Fed’s immediate mass money creation operations in reaction to the COVID-19 outbreak.
According to Trading Economics, the US dollar has gradually gained strength against other major global currencies during the last year, with the GBP/USD, euro/USD, and Japanese yen/USD decreasing 18.24%, 15.54%, and 23.33%, respectively. Simultaneously, the Fed’s interest rate hike, combined with a rising USD, has resulted in a 55% reduction in the crypto market cap over the last year.
(With insights from Cointelegraph)