The author of the bestselling book 'Rich Dad Poor Dad' believes the US Federal Reserve will continue to raise interest rates, which will eventually push BTC, gold and silver prices down even more.
However, this presents a good buying opportunity that can make investors smile in the future. Robert Kiyosaki had previously been a vocal critic of bitcoin but the crisis caused by COVID-19 changed his views and eventually became a strong supporter.
In his latest tweet he linked the Fed's monetary policy where the central bank has raised interest rates several times in hopes of fighting soaring inflation.
So far, bitcoin has met every rise in interest rates with volatility, usually the opposite. Share prices have also plummeted over the past few months. Even more stable assets like gold and silver are down from their recent highs.
At the same time, the US dollar has strengthened to an all-time high against the euro and a multi-year high against the British pound. Kiyosaki believes this trend will continue as long as the Fed continues to raise interest rates, meaning BTC, as well as gold and silver, could lose more value against the US dollar.
Still, he maintains that this is a "buying opportunity," which will make investors who buy the asset smile later in the day when the Fed starts lowering interest rates.
Peter Schiff, who is a vocal critic, has not commented on BTC as of late. On the other hand, Schiff argued that it is possible that "gold and silver prices have already declined. He added that the market has yet to realize this, and advised people to "buy gold and silver" when prices are still cheap.
