The economic contraction caused by the COVID-19 pandemic in 2020 strengthened the prospect of a global recession, with many experts suggesting that only a limited number of assets would be the savior. One of them, Robert Kiyosaki, is now raising his hand and saying that even if they hit the bottom, he will continue to buy Bitcoin.
Robert Kiyosaki says he’ll be receptive even if they hit historic lows
Popular finance writer Robert Kiyosaki, author of ‘Rich Dad, Poor Dad’, has been the most vocal supporter of gold, silver and Bitcoin for some time. In his new statements, he says he will continue to buy the yellow metal, silver and Bitcoin even if gold falls to $1,000 an ounce.
Kiyosaki’s latest statements were directed towards the words of expert Steven Van Meter in his latest YouTube video that gold prices are about to drop. Thus, he once again expressed the thesis that only gold, Bitcoin and silver would be the savior in economic crises.
Kiyosaki tweeted today, “My respected Steve Van Meter estimates that gold will drop to $1,000. He states that the markets are tired of waiting for gold to rise. If gold drops to $1000, I’ll buy more. I am an investor, not a trader. For me Gold, Silver and Bitcoin are real money. To me, cash (dollars) is garbage,” he wrote.
According to Robert Kiyosaki, Bitcoin will reach $100,000
In a recent tweet, Kiyosaki assumed that Bitcoin could reach the $100,000 level soon. The reason is the same as they’ve been saying for the past few months: Kiyosaki doesn’t trust the Fed.
Kiyosaki tweeted that there is no need for Bitcoin to be bailed out by the Fed once it drops below $20,000 as BTC is “the people’s money.” Therefore, the leader expects the cryptocurrency to rise to the top of $100,000.
After the recent banking crisis in the US in March, in which about 10 major banks, including Silicon Valley Bank and Signature Bank, were closed, the US government prepared a bailout package. cryptocoin.com We have reported in detail what happened these days.
What happened in the gold market?
Gold prices fell sharply on Friday, driven by hawkish comments from Fed officials that bolstered at least one more rate hike. Two central bank officials on Thursday reiterated the need for further rate hikes to rein in inflation as they prepare to enter a quiet period from April 22 to May 4 ahead of the Fed’s next monetary policy announcement.
Bob Haberkorn, senior market strategist at RJO Futures, told Reuters last week that a rate hike would initially reduce gold’s attractiveness, while a final pause would push gold to ATH levels. “The Fed has reached a breaking point where it cannot raise interest rates without serious damage to the economy,” he added.
Spot gold, which broke the $2,000 per ounce mark last week, is trading at $1,980 an ounce in Asian trading Monday morning. Recently, many experts claim that gold is ready to rise above $2,000 an ounce. However, the yellow metal finds it difficult to convincingly breach and go beyond the target.
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