Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
More inflation? Kiyosaki returns to the charge: advises investing in “real money” as Bitcoin to discouraging economic outlook.
- Kiyosaki predicts grim economic outlook.
- “FED will destroy the US economy with rate hikes”.
- He again advised investing in Bitcoin, gold and silver.
- He is not alone in predicting recession.
The author of the book “ Rich father, poor father “and personal finance influencer, Robert Kiyosaki believes that more pain is coming for the U.S. economy and has again advised his followers to invest in Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. .
On many occasions, the well-known “ guru “The finance minister has warned of a coming challenging scenario of economic recession in the U.S. due to a variety of factors, including poor government decisions. Against this backdrop, Kiyosaki has advised investors to move away from fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. currencies and look for valuable assets such as gold, silver, and Bitcoin .
In his latest post on his Twitter the famous writer once again reiterated these predictions. “ Savers are losers “ Kiyosaki wrote in his tweet remembering a lesson that he had already given in his bestseller of 1997. The investor emphasized the high U.S. debt and the Federal Reserve’s (FED) moves to raise interest rates.
Then, echoing his earlier remarks, he commented again on the relevance of Bitcoin and precious metals as inflation rates rise. Kiyosaki has been sharing in Twitter this thesis since the beginning of the pandemic, when the Bitcoin plummeted below USD $4,000. Since then, he has been an avid cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. advocate.
Today, the US debt in [hundreds] of trillions. REAL INFLATION a general increase in prices and fall in the purchasing value of money. is 16% not 7%. The Fed raising interest rates will destroy the US economy. Savers will be the biggest losers. Invest investing is when you put money in a financial scheme with the intent of making a gain. in REAL MONEY. Gold, silver and Bitcoin.
SAVERS ARE LOSERS. 25 years ago, in RICH DAD POOR DAD I stated savers are losers. Today, US debt in 100s of trillions. REAL INFLATION is 16% not 7%. Fed raising interest rates will destroy US economy. Savers will be biggest losers. Invest in REAL MONEY. Gold, silver & Bitcoin.
– therealkiyosaki (@theRealKiyosaki) September 16, 2022
EDF will cause more pain
Kiyosaki has repeatedly criticized the U.S. central bank during the pandemic for its efforts to inject liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. into the markets and more recently for the monetary institution’s aggressive approach to raising interest rates.
The Fed has raised interest rates four times this year by a total of 2.25 percentage points in an effort to control inflation. In August, the Consumer Price Index (CPI), a widely used metric for measuring inflation, reached 8.3%. from a year earlier. While the figure was lower than the July and June rates of 8,5% and 9.1% respectively, the data continue to ring alarm bells for economists as they are well above the Fed’s long-term target of 2%.
Last month’s data exceeded economists’ predictions, although many seem to agree that the worst part is over. For his part, Fed Chairman Jerome Powell had already warned in late August that the bank’s measures could cause “ some pain to households and businesses ” American.
Markets in general have been extremely volatile as the Fed moves forward with policy. Bitcoin lost its key USD $30,000 level and has been struggling to stay above $20,000 for much of 2022. However, with inflation still elevated, the central bank will most likely continue to raise rates and extend the pain in the markets.
Kiyosaki is not alone in his pessimistic outlook for this outlook. This week, the billionaire in charge of Bridgewater Associates Ray Dalio, warned that stock market an area or arena, online or offline, in which commercial dealings are conducted. shares could fall by 20% if the Fed does make a 4.5% interest rate hike. The Fed has yet to make such a move, but an upcoming rate hike announcement is expected this month.
Bitcoin depressed in the face of inflation
To Bitcoin If it does, such an increase would certainly not be good news. At the time of writing, the flagship cryptocurrency stands at around USD $19,800, amid a slight rise in the market. Bitcoin plunged this week below USD $20,000 even amidst excitement over the update of the Ethereum a decentralized open-source blockchain with smart contracts functionality. , “The Merge“.
Several market observers – including Kiyosaki – have been optimistic about long-term digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset prices. They seem to agree that the declines could extend in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term as the Fed maintains its hawkish approach, but that once the rate hike concludes, there will be relief in the markets and the markets will be able to take a more active role. Bitcoin could rebound again.
In this regard, the strategistBloomberg IntelligenceMike McGlone, who has in the past has been optimistic on the price of the main cryptocurrency, noted this Saturday in an interview for Kitco News that, once the high-inflation macroeconomic environment ends, Bitcoin could increase to be quoted at USD $100,000.
Meanwhile, the author of “ Rich father, poor father “He pointed out that the falls are a moment to take advantage of and “to take advantage of the falls.hacerse más rico“. A few months ago, he said he hoped that Bitcoin to sink below USD $17,000 to acquire more coins.
- Robert Kiyosaki notes that the financial crisis he predicted in 2013 has arrived and invites his followers to “get richer”
- Robert Kiyosaki on Bitcoin and real estate: “Don’t miss out on the greatest bargain on Earth.”
- U.S. Senate candidate Bruce Fenton supports Bitcoin because he says, “The dollar is a melting ice cube.”
Article by Hannah Estefania Perez / DiarioBitcoin
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