Over the past year, the US dollar has steadily strengthened versus other important global currencies.
In light of the strengthening US dollar and continuous interest rate increases, businessman and best-selling author of Rich Dad, Poor Dad Robert Kiyosaki called Bitcoin (BTC), silver, and gold a “buying opportunity.”
The three commodities’ prices, which are usually referred to as “safe haven” assets, would continue to decline as the US dollar increased, proving its value until the “FED pivots” and lowers interest rates, the author claimed in a tweet to his 2.1 million followers on October 2.
In a post the day before, Kiyosaki reportedly predicted that this “transition” may happen as early as January 2023, with the US dollar “crashing” in a manner similar to how the British pound recently did.
Since May 2020, Kiyosaki has argued in favor of asset classes that are inaccessible to the Fed, advising investors to “Get Bitcoin and save yourself” in the wake of the Fed’s emergency mass money creation activities in response to the COVID-19 outbreak.
Trading Economics claims that during the last year, the US dollar has gradually strengthened relative to other important world currencies, with declines in the GBP/USD, euro/USD, and Japanese yen/USD of 18.24%, 15.54%, and 23.33%, respectively. In addition, the Fed’s interest rate increase and a rising USD have caused a 55% decline in the market valuation of cryptocurrencies over the past year.
