“Rich Dad, Poor Dad” author says that Bitcoin will stay, while stocks and real-estate will crash
Renowned investor and entrepreneur, Robert Kiyosaki, who is also famous as author of books on financial literacy (“Rich Dad, Poor Dad” is the best-known of them) has again posted a tweet, in which he praises Bitcoin, saying that the Fed Reserve is gradually killing the US economy.
So it is a good time to “buy Bitcoin, silver and gold”, per his tweet.
Raising interest rates will kill economy
Stocks, bonds and real-estate will crash, he insists. The reason for this is that the Fed Reserve continues to raise interest rates and it “will kill the economy”, Kiyosaki tweeted.
The prices of gold and silver are plunging, he pointed out. Silver is out of stock, so the “Rich Dad, Poor Dad” author is purchasing physical gold coins. One day, Kiyosaki is sure, Fed will pivot, and before than gold, silver and Bitcoin are good to buy, he stated.
Gold & silver prices plunge as Fed continues raising interest rates. Silver is out of stock so I am buying physical gold coins. Raising interest rates will kill economy. Stock, bond, real estate will crash. Fed will pivot. Buy Gold, Silver & Bitcoin before FED pivot. Take care.
— therealkiyosaki (@theRealKiyosaki) October 29, 2022
In a tweet published a week ago, Kiyosaki warned Bitcoin investors not to waste time on skeptics and buy BTC as he expects the USD to be finished soon thanks to the regular dollar printing the USD government has been performing since 2020, when the pandemic hit the world.
Back in that year, more than $6 trillion USD were printed and injected into the economy in the form of survival cheques worth $1,200.
Bitcoin reclaims $20,800, CEX outflows surge
Over the past 24 hours, the flagship cryptocurrency managed to surge from the $20,200 level and went up as high as $20,882 at the time of this writing, according to data shared by CoinMarketCap.
In the meantime, traders continue to withdraw staggering amounts of Bitcoin from centralized exchanges. The balances on those platforms at the moment are down to 8.3 percent – this low Bitcoin supply on exchanges was last seen four years ago, according to a recent tweet of Santiment data aggregator.
As reported by IntoTheBlock, on Friday, October 28, the largest single amount of Bitcoin – more than 70,000 BTC – was withdrawn. It was evaluated at $1.53 billion and was the largest single outflow over the past half a year.
Crypto blogger Colin Wu tweeted a day earlier that 51,000 Bitcoins were moved from Binance. However, he assumed that was likely to be an internal Binance move of funds.