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July 17, 2024
PI Global Investments

“Please buy more gold, silver and Bitcoin”: Robert Kiyosak

Robert Kiyosaki, author of the popular personal finance book “Rich Dad Poor Dad”, has again taken to social media to issue an important statement on Bitcoin and call on the community to start buying it.

Last week, the author shared his insight on Bitcoin halving and its potential impact to the market.

This time, Kiyosaki shared that he also purchased more Bitcoin himself after the U.S. regulator approved a spot-based Bitcoin ETF. 

In a series of tweets, Kiyosaki criticized the Federal Reserve and U.S. Treasury, stating he expects the dollar to fall into hyperinflation. He pointed out that over the past five months, since the NFL season began, the U.S. national debt has increased by $1 trillion. “Please buy more gold, silver and Bitcoin,” Kiyosaki urged.

Many economists sounded alarms last year when the government removed the debt ceiling, allowing it to surpass $34 trillion. Kiyosaki said he acquired five more Bitcoins this week out of fear of coming hyperinflation, after the SEC finally approved Bitcoin ETFs. 

However, on the first day of trading, the new ETFs attracted only $400 million. The Bitcoin price has since pulled back from over $49,000, losing 15% this week. Analysts say traders are selling to lock in profits and raise cash to buy the new ETFs.

Kiyosaki believes Bitcoin could fall even lower but remains bullish long-term and is calling on people to accumulate.

Also read: Hedera Council Allocates $408M in HBAR for Network Growth

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