Bitcoin is a good idea to buy before the FED swings and stops moving: Robert Kiyosaki

Renowned investor and entrepreneur, Robert Kiyosaki, who is also known as the author of books on financial literacy (“Rich Dad, Poor Dad” is the most famous of them) has again posted a tweet, in which he praises Bitcoin and says that the Fed Reserve is gradually killing the American economy.

So it’s a good time to “buy Bitcoin, Silver and Gold,” according to his tweet.

Raising interest rates will kill the economy

Stocks, bonds and real estate will crash, he insists. The reason for this is that the Fed Reserve continues to raise interest rates and that “will kill the economy,” Kiyosaki tweeted.

The prices of gold and silver are falling, he pointed out. Silver is out of stock, so the author of “Rich Dad, Poor Dad” buys physical gold coins. One day, Kiyosaki is sure, the Fed will swing, and sooner than that, gold, silver and Bitcoin are good buys, he said.

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Gold and silver prices fall as the Fed continues to raise interest rates. Silver is out of stock, so I’m buying physical gold coins. Raising interest rates will kill the economy. Stocks, bonds, real estate will crash. The Fed will pivot. Buy gold, silver and bitcoin before FED pivot. Have a good time.

— therealkiyosaki (@theRealKiyosaki) 29 October 2022

In a tweet published a week ago, Kiyosaki warned Bitcoin investors not to waste time on skeptics and buy BTC, as he expects the USD to be finished soon thanks to the regular dollar printing the USD government has been doing since 2020, when the pandemic hit world.

Back in that year, more than $6 trillion was printed and injected into the economy in the form of $1,200 survival checks.

Bitcoin Retakes $20,800, CEX Outflows Increase

In the past 24 hours, the flagship cryptocurrency managed to rally from the $20,200 level and went as high as $20,882 at the time of writing, according to data shared by CoinMarketCap.

Meanwhile, traders continue to withdraw staggering amounts of Bitcoin from centralized exchanges. Balances on these platforms are currently down to 8.3 percent – ​​this low Bitcoin supply on exchanges was last seen four years ago, according to a recent tweet from data aggregator Santiment.

As reported by IntoTheBlock, on Friday 28 October, the largest single amount of Bitcoin – more than 70,000 BTC – was withdrawn. It was valued at $1.53 billion and was the single largest exit in the last six months.

Cryptoblogger Colin Wu tweeted a day earlier that 51,000 Bitcoins were moved from Binance. However, he surmised that it was likely an internal Binance movement of funds.