Kiyosaki recommends buying bitcoin and attacks the Fed’s policies

The global economic situation and the American one in particular are not optimal. Inflation continues to keep everyone on their toes as the US government continues to aim to raise interest rates in response and attempt to control inflation rates. And billionaire Robert Kiyosaki has his own take on the problem and a possible solution involving bitcoin (BTC).

In his most recent tweet, this Sunday, September 18, the author of Rich father poor father commented that the dollar is “dying” as a result of a spiral of indebtedness and inflation caused by the US Federal Reserve (the Fed).

Kiyosaki summed up the situation that the country borrows too much to keep interest rates low, then this generates inflation that ends up forcing interest rates up and “debt becomes too expensive.” His response to this, to the people: “buy bitcoin”.

Just a couple of days before, the regular investor recommending or commenting on financial issues had warned that continued interest rate hikes by the Fed would “destroy the US economy.”

In the same message, he assured that saving in dollars is losing. Instead, he was recommending BTC, gold, or silver as investments. Even referring to the need to invest in “real money”, implying that the dollar is not.

As we recently reported in CriptoNoticias, it is not the first time that Kiyosaki has referred to bitcoin or silver as recommended investments. Recently, he referred to the precious metal as a way for the “have-nots to get rich.”

It is also not the first time that he has spoken about the global financial crisis, which he described a few weeks ago as an “opportunity” for the rich to get even richer.

Kiyosaki and bitcoin as “safe”

The businessman is one of the figures in the financial world who has shown the most faith in bitcoin. Not only because of its potential to generate profits in the market for investors, but it even raises it to the level of “insurance” against the efforts of “totally corrupt” institutions, referring to the Fed and the US Treasury Department.

Other millionaires or big-name investors also seem to be targeting bitcoin as a solution to the failures of fiat money. One of them is Jim Rogers, former partner of George Soros, who came to propose bitcoin as a possible substitute for the dollar in the face of a fall that he considered imminent.

There are those, like Anthony Scaramucci, who see the potential but they still do not consider bitcoin as a defense against inflation. As we reported last August in this newspaper, the CEO of SkyBridge Capital believes that Bitcoin is not yet mature enough to see it as a security asset.

For his part, Jeff Dorman, investment director of the asset manager Arca, considers that BTC is not behaving as a safeguard but as a speculative asset because “it lost its narrative”.

At the time of writing this article, bitcoin is trading below $19,000. So far this Monday, has fallen in its price more than 3.2% in the expectation that interest rates will be increased by the Fed aggressively. As analysts of all stripes have warned, including economists at Goldman Sachs.

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