In the face of rising inflation, Robert Kiyosaki, author of “Rich Dad Poor Dad,” has stressed the importance of investing in hard assets such as bitcoin, gold and silver. Kiyosaki, known for his investment advocacy, took to social media today to encourage a financial shift to these assets as a protection against the eroding value of money. His comments come as individuals worldwide are feeling the pinch of the rising cost of living.
Kiyosaki’s criticism extends to the current monetary system, which he calls “FAKE,” and he attributes the economic hardships to the Marxist ideologies of global leaders. In response, he supports the MAGA movement, believing in its capitalist principles to spur economic growth and alleviate inflationary pressures.
In the midst of these discussions, bitcoin has seen a recent surge in value, rising from $36,550 on November 19th to $38,310 on November 26th (today’s price of $37,233). This positive momentum is in line with predictions from financial experts such as Rekt Capital, who forecast that bitcoin could reach the $40,000 mark before its next halving event in April 2024.
However, not all outlooks on bitcoin are optimistic. Analysts at JP Morgan have raised concerns about a potential bearish trend for the cryptocurrency. They point to the rise of exchange-traded funds (ETFs), which could lead to outflows from the Grayscale Bitcoin Trust (GBTC), potentially dampening bitcoin’s growth trajectory.
As the debate continues on the best strategies to combat inflation, both bitcoin and blockchain investments remain at the forefront of discussions on wealth creation and economic stability.
