Famous author and Bitcoin advocate Robert Kiyosaki took to social media application X to express his deep concerns about the escalating inflation crisis in the United States. The famous investor, best known for his classic book “Rich Dad Poor Dad,” shared his shock at the rapid and significant increase in prices, highlighting the challenges faced by those struggling to meet basic needs. Here are the details…
New post from Bitcoin supporter Kiyosaki
Kiyosaki, a consistent supporter of Bitcoin, urged his followers to consider investing in the cryptocurrency as a hedge against inflation. In a series of tweets, he criticized the US government, the Fed and the Treasury for their role in the economic downturn, attributing the situation to overprinting of the US dollar. The financial guru has long been a vocal critic of the FED, condemning the printing of trillions of dollars as “fake money.” He frequently refers to Bitcoin as “The People’s money,” emphasizing Bitcoin’s decentralized nature and limited supply of 21 million coins, unlike traditional fiat currencies.
Expressing that he empathizes with those struggling with increasing living costs, Kiyosaki drew parallels with examples of hyperinflation in history, specifically referring to Germany’s experience a century ago and calling for caution in the face of similar challenges in the United States. He questioned the competence of the country’s leaders to manage the economy and warned of a possible hyperinflation crisis.
Inflation warnings arrived
Touching on the current inflation rate, Kiyosaki emphasized that official forecasts at the beginning of the year predicted that it would drop to 3.7% after reaching 6.2% the previous year. Although it decreased from 3.7% seen in August and September to 3.3% in October 2023, Kiyosaki continues to be skeptical about the overall economic outlook.
Despite the uncertain economic landscape, Kiyosaki maintains his belief that Bitcoin represents the best assets for investment, along with gold and silver. At the time of writing, Bitcoin’s value was at $37,490, and many experts expect a surge after Bitcoin’s halving in April-May next year. Some estimates even suggest a potential 6x increase to $220,000.
Kiyosaki predicted the 2008 crisis
cryptokoin.com As we reported, Kiyosaki, who correctly predicted the collapse of Lehman Brothers in 2008, continues to share his comments. Generally, experts point out that the US dollar is weakening and recommend that investors look at gold and silver. As a result, Robert Kiyosaki’s latest comment serves as a stark warning about the current state of inflation in the US and urges individuals to consider alternative assets such as Bitcoin to protect their wealth in the face of economic uncertainty.
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