Robert Kiyosaki, the author of the bestselling book “Rich Dad, Poor Dad,” has once again urged investors to hedge against the risks of a sick economy. In response to the news that the Fed would provide additional funding to help regional U.S. banks meet depositors’ needs, Kiyosaki advises his followers to buy real assets with a definitive supply, such as gold, silver, and Bitcoin. He argues that the injection of more fake money into the economy, in the form of the U.S. dollar, will only exacerbate the recessionary state the economy is currently in.
Bitcoin Surges 10% in Response to Positive News
Bitcoin responded positively to the news of the Fed’s additional funding, surging more than 10% in the last 24 hours and reaching levels above $22,400 at one point. The entire crypto market added over $60 billion on the news, surpassing the $1 trillion capitalization mark once again.
Crypto-Friendly Banks Face Challenges
Several crypto-friendly financial institutions, including Silicon Valley Bank, Silvergate, Signature Bank, and First Republic Bank, found themselves struggling to meet depositors’ demands, triggering a wave of sell-offs on the crypto market. Despite this setback, Robert Kiyosaki believes that Bitcoin and other real assets are the answer to a sick economy.
In conclusion, Robert Kiyosaki’s advice to buy real assets as a hedge against a sick economy is particularly relevant in today’s economic climate. As Bitcoin and other cryptocurrencies continue to gain mainstream acceptance, it is becoming increasingly clear that they have a place in every investor’s portfolio.
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