The crypto industry is facing challenges in the US currently with crypto giants like Binance facing allegations from the CFTC. However, Robert Kiyosaki the author of Rich Dad Poor Dad says it is the perfect time to buy Bitcoin.
The entrepreneur and financial educator in a tweet said explained why bitcoin is a good investment that everyone should get along side silver and gold.
SHOP til YOU DROP. Retail prices dropping. Rising interest rates killing capitalism. Rich brands on sale. Buy before systemic inflation is in control. Inflation is systemic not transitory. Buy Prada, Panerai, Polo, gold, silver, BC before brands become expensive. F’ poverty.
— Robert Kiyosaki (@theRealKiyosaki) March 29, 2023
He said the current level of inflation is making high-end brands to crash, making everything affordable. This presents a rare opportunity to buy everything from designer wears to investment assets such as Bitcoin, gold, and silver, “before brands become expensive,” he said.
U.S Inflation Making Bitcoin Attractive
Inflation has always driven investors towards Bitcoin throughout the history of the digital currency. As the U.S Fed continues to raise interest rates, more investors are likely to run to it, but it has become even more attractive with the recent bank collapses.
Although the collapse of Silvergate, Silicon Valley Bank, and Signature Bank did affect the whole crypto market in momentarily, Bitcoin has since bounced back into a rally and experts believe the rally was fueled by the collapse of the banks.
Bitcoin Pushes Towards $30k
Despite the lawsuits against Binance and other crypto startups, Bitcoin has continued on its rally and heading towards $30,000, a level it hasn’t reached since it crashed from the $60,000 all-time high last year.
As more inflation continues to hit, this trend may continue and Bitcoin could be heading to higher levels in the coming months.