Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – praised bitcoin’s impressive performance in the past 12 months, predicting its price to keep rallying in the future.
He said he will buy more BTC as he doesn’t trust the Federal Reserve and the President of the US – Joe Biden.
BTC: An Alternative to the Fed’s Controversial Policy
In a recent post on Twitter, Kiyosaki highlighted Bitcoin’s price increase in the past year. It is worth noting, though, that the rally started at the beginning of 2023, while a long time during 2022 BTC was trading at sub $20K levels.
The “Rich Dad Poor Dad” author forecasted that the asset, alongside gold and silver, could continue its positive trend in the following months. He even vowed to increase his exposure to bitcoin and the precious metals because the “Fed, Treasury and Biden are liars.”
Bitcoin up over 100% in a year. Will Bitcoin keep going UP? I’m betting on it. I am buying more gold and silver. Why buy more Gold, Silver, BC? Because Fed, Treasury, and Biden are liars. .
— Robert Kiyosaki (@theRealKiyosaki) April 18, 2023
Numerous other prominent individuals recently claimed that the actions of the central bank of the US have caused financial turmoil and could be one reason behind the galloping inflation in the region.
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Robert F. Kennedy Jr – the nephew of former President John F Kennedy, who challenged Joe Biden for the Democratic nomination in the 2024 elections – supports that thesis. He recently opined cryptocurrencies like bitcoin could serve as an “escape route” to individuals “when this bubble invariably bursts.”
In addition, he maintained that the Fed had partnered with a number of leading banks between 2008-2022 to print a substantial amount of money, while President Biden “weaponized” the DOJ, the FDIC, and other agencies to force some institutions to cease operations to crypto entities at the end of last year.
Recall that local regulators recently shut down the operations of Silicon Valley Bank (SVB), Silvergate Capital, and Signature Bank. They all served numerous cryptocurrency clients, and their issues prompted severe investor losses.
Kiyosaki Sees BTC Trading at $500K
The American, who was among the few to predict the 2008 financial collapse, forecasted earlier this year that the market could be facing another “giant” collapse soon. As such, he advised people to avoid traditional fiat currencies and focus on Bitcoin and precious metals.
He believes the higher possible adoption could boost BTC’s valuation to $500,000 by 2025, while gold could climb to $5,000 per ounce.
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