'Rich Dad' Kiyosaki Predicts Bitcoin and Gold Surge, Advises Increasing Allocation

by Kim Eunha

Pubilshed 18 Sep.2024 11:22(KST)

"If the Fed Lowers Interest Rates, Value Will Soar"

Bestselling author of 'Rich Dad Poor Dad,' Robert Kiyosaki, predicted a surge in Bitcoin and other assets.

On the 16th (local time), Kiyosaki wrote on his X (formerly Twitter), "If the Federal Reserve cuts interest rates at this week's FOMC meeting, the value of the dollar will plummet, and the prices of Bitcoin, gold, and silver will rise," adding, "A surge in the prices of Bitcoin, gold, and silver is imminent." He further explained, "With the rate cut, the fake currency dollar will exit the fake asset Treasury market," and "As these funds move into tangible assets like real estate, gold, silver, and Bitcoin, prices will skyrocket."

▲Robert Kiyosaki (Source: Robert Kiyosaki Twitter)

He emphasized the importance of holding something. "It doesn't matter which is better between Bitcoin and gold," he said. "It's like choosing between a Ferrari and a Lamborghini," adding, "Before the Fed changes its monetary policy direction and lowers interest rates, investors need to increase their allocations in gold, silver, and Bitcoin."

Kiyosaki has consistently emphasized Bitcoin investment for several years. In March, he predicted, "Bitcoin will surpass $300,000 (about 410 million KRW) this year," and in June, he forecasted that Bitcoin would exceed $350,000 (about 480 million KRW) by August 25.

Bitcoin reached an all-time high by surpassing $73,500 in March. On domestic trading sites, Bitcoin's price exceeded 100 million KRW for the first time ever. It then dropped by more than 20%. In the second week of September, the Bitcoin market showed a gradual upward trend and recovered to $60,000 in the early morning of the 14th (Korean time). Recent U.S. economic indicators suggested the possibility of a 'big cut' (50 basis points interest rate cut) at the September FOMC. According to U.S. polls, presidential candidate Donald Trump, who has positioned himself as a 'pro-crypto president,' is in a close race with candidate Kamala Harris, and the market is observed to be highly sensitive to macroeconomic indicators.