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Kiyosaki predicts Bitcoin surge amid Fed rate cuts

Kiyosaki predicts Bitcoin surge amid Fed rate cuts

GrafaGrafa2024/09/19 02:35
By:Mahathir Bayena

Robert Kiyosaki, author of Rich Dad Poor Dad, has forecasted a sharp increase in Bitcoin (CRYPTO:BTC), gold, and silver prices following the Federal Reserve’s recent decision to cut interest rates. 

In a post on social media platform X, Kiyosaki declared, "Bitcoin, gold, silver prices are about to explode," suggesting that the rate cuts will drive investors away from what he calls "fake assets," such as U.S. bonds, and toward real assets like Bitcoin and precious metals. 

Kiyosaki has been a vocal critic of U.S. monetary policy, particularly in light of rising inflation. 

He warned that the Fed’s actions would further weaken the U.S. dollar and that investors should protect themselves by shifting their investments into assets like Bitcoin, gold, and silver. 

He explained, “As the Fed cuts interest rates, fake money will leave fake assets such as U.S. bonds and flow into real assets like real estate, gold, silver, and Bitcoin.” 

In his commentary, Kiyosaki dismissed debates about whether gold or Bitcoin is the better investment, labeling those who engage in such discussions as "talkers" and "cowards." 

He urged his followers to act swiftly, arguing that indecision would lead to financial losses as real asset prices rise. 

“Those who own real gold, silver, and Bitcoin will get richer,” he asserted. 

Kiyosaki also highlighted the effects of inflation on retirees, pointing to a conversation with a baby boomer friend who said inflation had severely impacted their retirement savings. 

He criticised the Federal Reserve’s money-printing policies, stating, "When the Fed prints money, the rich get richer, while the poor and middle class grow poorer." 

He emphasised that essential goods like food, fuel, and housing have become more expensive, forcing many retirees back into the workforce. 

At the time of reporting, the Bitcoin (BTC) price was $62,263.25.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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