The price of bitcoin (BTC) has surged recently, attracting more and more investors to the market. For Robert Kiyosaki, the author of “Rich Dad Poor Dad”, there is an explanation for this sudden rise. Here is the reason behind the recent bitcoin rally.
The impoverishment of the poor caused the rise of bitcoin
Robert Kiyosaki explained, on the most influential social network, “why gold, silver and bitcoin are on the rise“. The best-selling author said the reason for the recent rally in these assets has to do with the action of the poor. “Because America’s poor and middle class are getting poorer and sinking into bad debt. Please don’t get poor. Buy at least one silver coin. Just $30 and start getting rich“, he explained.
Kiyosaki, with 2.3 million Twitter followers, shows off bullish on BTC since the end of December. He had explained that the flagship crypto is a commodity, unlike most digital assets. As such, future actions of the US SEC cannot impact bitcoin. On the other hand, the regulatory framework that the regulator will impose could cause the fall of other cryptos.
Moreover, Kiyosaki has often criticized the increase in interest rates that the Fed practices in the event of inflation. He was not missing the opportunity to warn his followers on social media against inevitable high inflation. Kiyosaki even spoke of an upcoming hyperinflation against which he advises protecting oneself by buying bitcoins in particular.
During an interview, the famous author said:Gold and silver are God’s money. Bitcoin is the people’s money open source“. On January 14, he said:Bitcoin, gold, silver and oil prices are rising. Good news for those who know that inflation is permanent…now systemic…not transitory. Bad news for the uninformed, the poor, the middle class“.
Robert Kiyosaki rose to fame with his personal finance book “Rich Dad Poor Dad”. In this work, he talks about the importance of financial education as well as financial independence. It shows how to create wealth by investing in assets, real estate and business creation. The author argues that one must increase one’s financial intelligence in order to improve one’s business and financial skills.
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