Robert Kiyosaki: Buy Bitcoin! The US dollar is crashing!

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, predicts that the US dollar will crash in January 2023. In his opinion, volatility in the pound and the euro will shake investors in the near future – and bitcoin buyers will benefit from it.

According to Kiyosaki, this scenario presents an excellent opportunity to buy Bitcoin. In a tweet, he also commented on the Bank of England’s easing of interest rate policy:

“Will the US dollar follow the British pound? I think it will.”

Robert Kiyosaki: Buy Bitcoin 2023

In another tweet the investor explained why he would like to buy Bitcoin in early 2023:

“If the FED continues to raise interest rates, the US dollar will strengthen, causing gold, silver and also bitcoin prices (in US dollars) to fall. Buy more. When the Fed turns around and lowers interest rates, as it just did in England, you will smile while others cry. Beware.”

Remarkably, the author of the financial book has been discussing Bitcoin since 2018. In August of that year, Kiyosaki claimed that Bitcoin is people’s money and described the US dollar as some kind of farce or scam.

Although the total crypto market capitalization fell below $1 trillion again in the wake of the current bear market, Kiyosaki still believes that the BTC price will explode – even for the foreseeable future. At the moment, however, further price drops are in the air.

At the time of writing, the BTC price has fluctuated between $18,930 and $19,300 over the past 24 hours, data from GoinGecko shows. Before then, however, there was a significant increase in bitcoin trading volume, primarily in euros and pounds.

Data from Messari shows that investors across Europe are switching their fiat currencies to BTC after the UK’s central bank announced it would ease monetary policy. In addition, the euro and the pound fell sharply against the US dollar.

Crypto billionaire holds on despite bear market

Against the background of major macroeconomic uncertainties, DCG CEO Barry Silbert stated that the world’s largest cryptocurrency Bitcoin will develop into the new safe haven asset.

However, crypto billionaires have suffered heavy losses due to the current bear market. The number of crypto-billionaires on the Forbes400 list (the richest people in the United States) decreased from 7 to 4 compared to 2021. The combined total wealth of these 7 billionaires fell from $55.1 billion to $27.3 billion, according to our crypto news report.

Bitcoin analyst Plan B, like crypto billionaires, remains bullish on the long term. He still thinks it makes sense to buy the “dips” (low points) in Bitcoin. According to Plan B, the cryptocurrency has been declared dead many times, only to once again set new records.

Notably, around half of all BTC investors are currently in the red (48%), according to crypto analytics firm IntoTheBlock. On the other hand, the other half (48%) is up. The rest (4%) have neither a significant loss nor a gain.

However, 63% still remain “long-term owners”, even with plenty of on-chain data and indicators pointing to further price declines.

A photo by: IntoTheBlock

Disclaimer

All information on our website has been investigated to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information on our website is entirely at his own risk.

Leave a Comment