Kiyosaki Revives Bitcoin Call Amid Dollar Fears
Robert Kiyosaki has renewed his call to buy Bitcoin, urging investors to protect their wealth from inflation and a weakening U.S. dollar. The 'Rich Dad Poor Dad' author believes that financially educated investors use scarce assets like Bitcoin, gold, silver, and selected real estate as hedges against inflation.
Kiyoski argues that knowledgeable investors acquire assets capable of appreciating in value while those holding cash lose purchasing power. He warns followers not to be 'losers' and repeats his view that financial ignorance carries a greater cost than education.
Despite his bullish forecasts, Kiyosaki's $350,000 Bitcoin target for August 2024 did not materialize. However, the cryptocurrency rallied this week, approaching $79,500 before retreating from its local high. The Treasury's announcement to expand long-dated bond buybacks contributed to the rally, which was also fueled by falling long-term bond yields and a weaker U.S. dollar.