Robert Kiyosaki Encourages BTC Investment Amid Criticism from the Federal Reserve
Renowned author and financial educator Robert Kiyosaki has again underlined the importance of Bitcoin as a hedge against economic risks. Given the recent backlash against the monetary practices of the Federal Reserve, Kiyosaki has urged investors to consider including Bitcoin in their investing portfolios.
His comments coincide with Bitcoin’s 8% increase, confirming its long admiration for the cryptocurrency. Precious metals and cryptocurrencies are among the alternative investments the best-selling author of “Rich Dad Poor Dad” has long supported to preserve money and achieve financial independence.
Kiyosaki highlighted Bitcoin’s recent price increase in tweets, blaming it on increased investor interest in the digital asset as a store of value. He emphasized the allure of Bitcoin as a hedge against inflation and currency depreciation, especially in light of the extraordinary monetary stimulus plans that central banks around the globe have been implementing.
Kiyosaki Accuses Federal Reserve of Negligence, Hails Bitcoin
The Federal Reserve has come under fire recently for its aggressive quantitative easing programs and limiting monetary policies, hence, his reason for endorsing Bitcoin. Opponents contend that these measures may cause long-term inflation and devalue fiat money, driving investors to seek alternative safe havens like Bitcoin.
Kiyosaki is one of several popular investors and financial gurus who is bullish about Bitcoin and believes it might be a good hedge against macroeconomic uncertainty. Kiyosaki explained that because of its limited quantity and decentralized structure, providing investors with a way to diversify their investment portfolios and preserve capital.
The popular financial advisor has also advised the public to move their attention away from the Federal Reserve’s activities and consider BTC a safer investment choice. Kiyosaki’s opinion rhymes with the general discussion by major Bitcoin investors who have once referred to Bitcoin as “digital gold.”
In his statement, Kiyosaki underscores his reservation that people should not trust the Federal Reserve and its many monetary policies. He faulted the organization on how they handled the United States economy, accusing them of neglecting the financial health of the average middle-class and poor people in the United States while feeding fat from the banking industry’s profit.
Bitcoin Called the Best Protective Measure Against Traditional Financial Instruments
While commenting on the statement, Maxwell Mutuma, a popular cryptocurrency influencer, says that Kiyosaki’s support of Bitcoin serves as a helpful reminder for investors to diversify their portfolios and consider different options as they traverse an increasingly complicated and unpredictable financial environment.
Meanwhile, with the recent price increase and growing popularity, Bitcoin is still attracting interest from investors looking for alternative value stores in an increasingly unpredictable world and safety from established financial institutions.
As of press time, data from the Binance platform shows that BTC trades at $51,789.60, with a trading volume of $23.46 Billion in the last 24 hours. BTC market capitalization is recorded at $1,016.64 billion after losing -0.27% in its circulating supply in the last 24 hours.
Gold Price Expected to Drop, Trigger the Price of BTC
Kiyosaki’s Bitcoin forecast was motivated by the BTC’s current market growth and the recent move by the financial sector. A recent report says that the banks are witnessing a significant shift, moving away from the United States Treasuries into gold. They are forecasting a prospective decrease in the global price of gold, saying it would drop to $1,200.
The shift is expected to trigger further bitcoin ascension in the financial industry. The constant inflows of the BTC into the newly launched spot exchange-traded Funds (ETFs) contributed to the sudden price increase of the BTC, with the Fidelity and BlackRock ETFs topping the list of popular BTC ETFs.
The record is that investors had invested $701 million worth of BTC in a single day. The financial advisor had also said that the value of the BTC is pegged to different factors like its continuous rising influence amongst investors and Its acceptance as an authentic choice of investment.
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