Robert Kiyosaki, a respected financial expert and author, has reaffirmed his support for Bitcoin (BTC) following recent statements from Federal Reserve Chairman Jerome Powell regarding inflation concerns. Kiyosaki stressed in a strong statement that Powell has admitted that inflationary pressures are rising. He argues that this marks an important turning point for the economy.
Robert Kiyosaki continues to promote Bitcoin
As the well-known author of the bestseller “Rich Dad, Poor Dad”, he has been advocating alternative assets such as gold, silver and Bitcoin for some time. On platform X he wrote:
“Fed Chairman Powell has finally spoken the truth. Last week he finally admitted that inflation is gaining ground. The Fed can no longer promise that inflation will remain at 2% or that inflation is only “temporary.” He has finally stopped lying.”
In response to Powell’s admission, Kiyosaki further strengthened his position and advocated the benefits of Bitcoin and other valuable assets. He also warned the public about the dangers of inflation and urged people to be active in managing their financial future.
Kiyosaki bluntly emphasized the serious consequences of clinging to traditional forms of savings. He quoted his famous book and proclaimed: “Savers are losers.” He underscored the significant decline in the dollar’s purchasing power over the years, dating back to the creation of the Federal Reserve and the IRS in 1913.
With his preference for “real money,” Kiyosaki advocated owning assets such as gold, silver and Bitcoin as a hedge against the devaluation of fiat currencies. His recommendation reflects his long-standing belief in the importance of financial education and strengthening individual financial autonomy.
Fed chairman ignores interest rate cuts
Speaking at the Stanford Graduate School of Business, Fed Chairman Powell emphasized the need for further deliberation before making decisions on interest rate cuts. Despite widespread anticipation among financial analysts for rate cuts in mid-2024, certainty currently remains elusive.
This uncertainty suggests that assets such as Bitcoin and stocks, typically associated with greater risk appetite, may experience a period of extensive consolidation before resuming their upward momentum. Additionally, Powell highlighted the recent outperformance in job creation and inflation rates.
He indicated that these exceeded initial forecasts. While policymakers are generally leaning toward potential Fed rate cuts later in the year, Powell differs. Therefore, he emphasized that such measures would only be taken with increasing confidence in a sustained decline in inflation toward the Fed’s 2% target.
Source: https://cryptobenelux.com/2024/04/04/robert-kiyosaki-bevestigt-steun-voor-bitcoin-en-waarschuwt-voor-inflatiegevaar/
