Amidst growing concerns about inflation in the United States, renowned financial author and Bitcoin advocate Robert Kiyosaki shared his worries through the X social media platform. Known for his influential book “Rich Dad Poor Dad” and his pro-cryptocurrency stance, Kiyosaki expressed his surprise at the speed and magnitude at which prices are rising due to inflation in the country.
Although Kiyosaki feels financially and business-wise secure due to his economic situation, he empathizes with those facing difficulties in meeting basic needs such as food, rent, and fuel. The author laments that some people cannot follow his recommendation to invest in assets like Bitcoin due to these economic challenges.
I am shocked at the rising prices of INFLATION. Thank God I have plenty of money. Yet I feel for those who struggle paycheck to payeck. I feel for people who cannot afford food, rent, & fuel and cannot afford to invest in Gold, Silver, and Bitcoin as I suggest. Our “Woke”…
— Robert Kiyosaki (@theRealKiyosaki) November 23, 2023
In his statements, Kiyosaki spared no criticism for financial institutions and the U.S. government. He attributes the current economic situation to the actions of the Federal Reserve, the Treasury Department, and the government in general. Kiyosaki has consistently criticized the Federal Reserve for printing large amounts of dollars, which he refers to as “fake money.” This year, he also noted the drastic increase in the U.S. national debt, which had its ceiling removed in June, allowing the debt to surpass $31 trillion.
Bitcoin, Gold, and Silver as Protection
The author uses historical examples, such as hyperinflation in Germany and Zimbabwe, to illustrate his concerns about the possible economic fate of the United States. Through his comments, he urges the community to prepare for similar situations and emphasizes the importance of considering assets like Bitcoin, gold, and silver as safe havens in times of economic uncertainty.
Despite official predictions that inflation in the United States would decrease to 3.7% earlier in the year, Kiyosaki points out that in October 2023, it remained at 3.3%. Looking ahead, the Bitcoin advocate anticipates an increase in the value of Bitcoin after the scheduled halving in April-May of next year.
According to the latest data from CoinMarketCap, Bitcoin is currently trading at $37,255 per unit, reflecting a 1.8% increase in the last day. It’s worth noting that, with the planned halving next year and expectations for Bitcoin ETFs, it has experienced a bullish rally in recent weeks, rising over $9,500 since early October.
