The author of “Rich Dad, Poor Dad” is so confident that the price of cryptocurrencies and precious metals will continue to rise, thanks to Joe Biden and the Fed, that he’s actually welcoming a decline in the price of bitcoin calling it “great news.” Robert Kiyosaki says he may even start buying again, should the price hits $27,000.
He also reminded his followers that gold was at $300 in 2000. As of Monday, gold was trading at $1,900.
Bitcoin crashing. Great news. When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.
— therealkiyosaki (@theRealKiyosaki) May 30, 2021
Kiyosaki is an outspoken critic of the Federal Reserve and President Joe Biden. He believes that the Fed’s easy money policy will lead to the collapse of the dollar and that paying people not to work is “insanity.”
Paying people trillions not to work is insanity. The dollar is being destroyed. The end of the American Empire is near. Is war on the horizon? Our leaders are losers. God have mercy on us.
— therealkiyosaki (@theRealKiyosaki) May 2, 2021
Kiyosaki also explained how the Fed’s easy money policy will ultimately lead to a market crash, once the Fed is finally forced to raise interest rates.
In one of his tweets, he said that “Fed, Treasury, and Biden” are the problem and “gold, silver and Bitcoin are the solutions.”
Many economists and investors believe that the prices of cryptocurrencies and precious metals will continue to rise as long as the Fed continues to print money.
Gold is a proven inflation hedge, and some believe that Bitcoin can serve the same function.
As of Tuesday, Bitcoin was trading at $36,229, down substantially from its all-time-high in April of more than $63,000. But despite the past few volatile months, Bitcoin is still up 270% from the previous year.