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Robert Kiyosaki Robert Kiyosaki doubles down on BTC as Fed Chair admits inflation warning

Renowned financial educator and author Robert Kiyosaki has reiterated his support for Bitcoin (BTC) after Federal Reserve Chairman Jerome Powell recently admitted inflation concerns. In a bold statement, Kiyosaki highlighted Powell's admission that inflationary pressures are increasing. Furthermore, he explained that this signals a critical turning point for the economy.

Robert Kiyosaki continues his Bitcoin advocacy

Kiyosaki, known for his bestselling book “Rich Dad Poor Dad,” has long been an advocate for alternative assets such as gold, silver and Bitcoin. He went to X and wrote: “Fed Chairman Powell finally told the truth. Last week he finally admitted that inflation was winning. The Fed can no longer promise that inflation will be 2% or that inflation will be “transitory.” He finally stopped lying again.”

In light of Powell's admission, Kiyosaki reiterated his stance and advocated for Bitcoin and other assets to rise in value. Additionally, he warned the public about the effects of inflation and urged individuals to take control of their financial future.

In his direct language, Kiyosaki emphasized the dire consequences of relying on traditional savings methods. He pointed to the warning in his popular book, declaring, “Savers are losers.” He pointed to the dollar's drastic decline in purchasing power over the years, dating back to the creation of the Federal Reserve and the IRS in 1913.

Kiyosaki reiterated his preference for “real money” and advocated for owning assets such as gold, silver and Bitcoin as protection against the devaluation of fiat currencies. His recommendation reflects his long-standing belief in the importance of financial education and empowerment.

Also Read: Bitcoin (BTC) Price: Is the Selloff by Long-Term Holders a Blessing in disguise?

Fed Chairman Ignores Rate Cuts

During his address at the Stanford Graduate School of Business, Fed Chairman Powell emphasized the need for further consideration before making a decision on interest rate adjustments. Despite widespread expectations among financial analysts of interest rate cuts by mid-2024, there is currently no certainty.

This uncertainty suggests that assets like Bitcoin and stocks, which are typically associated with higher risk appetite, may undergo a period of prolonged consolidation before regaining upward momentum. In addition, Powell highlighted recent outperformance in job creation and inflation numbers.

He pointed out that they exceeded initial forecasts. While policymakers are generally leaning toward possible Fed rate cuts later this year, Powell disagrees. Therefore, he stressed that such measures would only be taken if there was increased confidence that inflation would fall sustainably to the Federal Reserve's 2 percent target.

Also read: Fed's Powell in no hurry to cut interest rates, what more trouble for Bitcoin (BTC)?

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The content presented may contain the personal opinions of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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