Renowned author Kiyosaki of the Rich Dad Poor Dad series of investment books says that he prefers Bitcoin to fiat money and distrusts the Federal Reserve, The Treasury, and the market. stock market.
"I love Bitcoin because I don't trust the Fed, Treasury and WallStreet."
Kiyosaki see Bitcoin is the money of the people, gold and silver are the money of God and he prefers these assets to fiat money issued by the government.
As a financial educator, entrepreneur, investor, and advocate of alternative repositories like Bitcoin, Kiyosaki uses many different communication channels to spread financial wisdom to everyone.
Recently, Bitcoin regained $60,000 and Kiyosaki exclaimed that the future is bright. He further added that he anticipates a slight pullback before prices continue to rise.
I don't trust the Fed
Quantitative easing (QE) measures of Fed reached a total value of VND 8.36 trillion as of September 7, 2021 amid fierce opposition from investors including veteran investors in the traditional market.
In addition to excessive QE, Kiyosaki does not trust the Fed because he thinks that the Fed is planning to launch a CBDC.
In early October, Kiyosaki suggested that the Biden administration was preparing to release CBDC and advised his followers to stay safe by buying alternative assets like Bitcoin.
“Biden hired Lenin's Minister of Communist Economy. Her name is Saule Omarova. Fed crypto is coming and stick with gold, silver, Bitcoin.”
Before that, he had speculated that if the US cracked down on cryptocurrencies the way China did, Bitcoin might be outlawed in the US.
“Fed Cryptocurrency makes Bitcoin illegal, USA becomes authoritarian like China, communism flares up and freedom ends.”
I don't trust WallStreet
Kiyosaki also predicts that the stock market will experience a severe crash in October due to the shortage of Treasury bills by the Fed and Treasury. He added that other assets including gold, silver and Bitcoin could also crash.
“Not selling gold, silver and Bitcoin but still have money to pay for life after the stock market crash. Stocks are very dangerous. Be careful."
Contrary to expectations for the massive growth of the crypto market, some analysts are predicting a tough time for the stock market at the same time. According to an Economic Times report, Jim Rogers has warned that the stock market is in a bubble and will surely burst before the end of the year.
Rogers also said that if the US dollar is the longest-lasting reserve currency, the current huge amount of debt is driving it to death. Soon, people will be looking for alternative stores of value, although it can take a long time to find a perfect place like the dollar.
“I still don't know what will replace the dollar. It is true that many people will choose silver including me but I don't know if there is a currency that can replace the dollar. Everyone is looking for something that can compete with the US dollar.”