Kiyosaki Repeats Bitcoin Call Amid Dollar Fears
Robert Kiyosaki has renewed his call to invest in Bitcoin, along with gold, silver, and select real estate, as a hedge against inflation and a weakening US dollar. He believes that financially educated investors use scarce assets to protect their wealth from these economic pressures.
Kiyosaki's latest advice comes after the US Treasury announced plans to increase its long-dated bond buybacks, which Kiyosaki characterized as 'printing fake dollars' and another round of quantitative easing. However, the Treasury clarified that this is a debt-management operation, not a monetary-policy tool conducted by the Federal Reserve.
Bitcoin's price has risen in response to the Treasury's announcement, with investors adding nearly $2 billion to their holdings through exchange-traded funds over five sessions. Despite Kiyosaki's bullish forecasts, Bitcoin's price remains below his previous target of $350,000 by August 2024 and other targets he has set.
While Kiyosaki's views on investing in Bitcoin are widely followed, they require caution due to the cryptocurrency's high price volatility. He has also acknowledged that buying assets solely because of hype can lead to losses for investors.