Robert Kiyosaki, the author of the book “Rich Dad Poor Dad”, which is in the bestseller category, made statements about the general market as well as the crypto money markets including Bitcoin and altcoins. With the markets wrapping up a very turbulent year, it may be the last chance to buy gold and silver at such low prices, according to Kiyosaki. Here are the details…
Kiyosaki remains a Bitcoin advocate
The lowest levels may be in the gold and silver markets, with gold currently trading at around $1,800 an ounce and silver at around $24 an ounce, according to Kiyosaki. In 2022, the ounce of gold saw a wide trading range. It rose above $2,000 in the spring and dropped to lows near $1,630 an ounce in the fall.
Silver saw most of its gains in the first quarter of this year, reaching $27 an ounce, similar to gold’s trading pattern. It then witnessed losses for six months and hit a 2-year low of $17.50 in September. In the fourth quarter, prices began to rise as investors began to expect a return from the Fed.
Kiyosaki: This week could be the last chance for cheap gold and silver
Analyzing the macro environment, Kiyosaki suggested to his Twitter followers that current price levels may be the cheapest option to buy the precious metal before the rally begins. Constantly advocating keeping gold, silver and Bitcoin in portfolios, Kiyosaki used the following statements:
Gold is over 1800. Silver is over 24. Inflation is rising. Interest rates are rising. The stock market will crash, gold and silver will rise. This week may be the last chance to buy gold and silver at low prices. Be careful. Pension plans are the next global LEHMANN. What are you going to do? Will you get richer or get poorer? People who own gold, silver, Bitcoin will get richer than those who save fake money when the Fed, Treasury, Wall Street turn and print trillions of fake dollars. Don’t be a loser.
Bitcoin, silver and gold emphasis
In another message to his followers, the best-selling author said it’s time to use the Fed’s aggressive stance to buy more gold, silver and Bitcoin. In October, he pointed to the UK’s lowering of interest rates, calling it a “buying opportunity”. “When the FED turns and cuts interest rates, as England did, you’ll laugh while others cry. Take care of yourself,” he tweeted. Kiyosaki thinks silver will jump to $100 and then $500 this decade. That’s why he regularly reminds his followers to buy more. Kiyosaki used the following statements in September:
Stocks, bonds, mutual funds, ETF and Real Estate are crashing. The middle class is disappearing. Silver will stay at $20 for 3-5 years, then increase from $100 to $500. Anyone can afford silver. Collect silver now.
Kiyosaki also mentioned Elon Musk, advising them to get the physical metal. “Elon’s weakness is silver. All businesses are burning silver,” he said. “He will probably get his own silver mine,” he added. “I have a mine and a real silver. In terms of spot price, silver is low. Losers complain about the high premiums of silver. The spot is low because there is price manipulation,” he said.
Another celebrity advocates Bitcoin
Meanwhile, cryptocoin.com As we have also reported, billionaire Mark Cuban, who participated in Bill Maher’s “Club Random” podcast, has recently come to the fore with his gold commentary. Cuban, owner of NBA team Dallas Mavericks, said some harsh things about gold investors and added that he is very supportive of Bitcoin. “I want Bitcoin to drop a lot more so I can buy some more,” he said on the podcast. “If you have gold, you are stupid,” he added.
Cuban criticized Maher when the comedian said he preferred to invest his money in gold based on the safe-haven appeal of gold. Cuban said that although gold is a store of value, it is not a hedge asset. “Gold is a store of value and so is Bitcoin,” he said. Cuban added that Bitcoin is a store of value and is also protected in a digital ledger.
However, Cuban’s comments did not quite suit a gold investor. Peter Schiff, chief market strategist at Euro Pacific Asset Management and founder of Schiff Gold, was critical of Cuban. In a Twitter post, Schiff said, “His lack of understanding of Bitcoin exceeds his lack of understanding of gold. It proves you don’t have to understand money to win,” he said. Cuban’s comments on Bitcoin came at a time when BTC was experiencing significant losses. Bitcoin prices have dropped about 64 percent this year.