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Rich Dad Poor Dad’s Robert Kiyosaki Plans To Buy Bitcoin When The ‘Bottom Is In’ — Says It Could Be At $17K

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Rich Dad Poor Dad’s Robert Kiyosaki Plans To Buy Bitcoin When The ‘Bottom Is In’ — Says It Could Be At $17K

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold and silver.

Kiyosaki Thinks Bitcoin Could Test the Bottom at $17K

The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his latest price expectation and future outlook for bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki tweeted Thursday that bitcoin is crashing and he is waiting for the price of the cryptocurrency to fall to the $20K level. He explained that he will then wait for BTC to test the bottom, which might be at $17K, before he starts buying. “Crashes are the best times to get rich,” he advised.

In January, the Rich Dad Poor Dad author said he will buy more bitcoin “if and when BTC tests $20K.”

Kiyosaki’s tweet came at a time when the crypto market has lost billions as the terrausd (UST) fiasco unfolded. At the time of writing, bitcoin is trading at $29,289, down 2% over the past 24 hours, 20% over the past seven days, and 27% over the past month.

Kiyosaki Also Believes ‘Bitcoin Will Win’

Despite the falling BTC price, Kiyosaki believes that “Bitcoin will win.” He tweeted Wednesday explaining why. “Bitcoin will win because America is led by the 3 stooges,” he wrote, adding that the first is President Joe Biden. He said the second stooge is Treasury Secretary Janet Yellen, and the third is Federal Reserve Chairman Jerome Powell. The famous author affirmed: “I trust Bitcoin not the 3 Stooges.”

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This was also not the first time Kiyosaki has expressed his distrust towards the Biden administration, Wall Street, and the Fed. He has also been recommending that investors buy bitcoin for quite some time.

Last month, the famous author said that the biggest bubble burst is coming. He called the government, Wall Street, and the Federal Reserve “thieves.” He also said that hyperinflation and depression are here and recommended investors buy gold, silver, and bitcoin.

In March, Kiyosaki said the U.S. dollar was about to implode, blaming President Biden for causing inflation. He recommended gold, silver, bitcoin (BTC), ethereum (ETH), and solana (SOL) as investments at the time.

However, Kiyosaki’s outlook for crypto is not all smooth sailing. The renowned author also warned that eventually, the government will seize all cryptocurrencies and fold them into a government crypto. Nonetheless, he subsequently said that the Russia-Ukraine war is “giving rise to crypto as a safer haven than government fake fiat money.”

Do you agree with Robert Kiyosaki about bitcoin? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Andrew Hunter

Inflation Rises Sharply In The US As Consumer Prices In March Spiked To 8.5%

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Inflation Rises Sharply In The US As Consumer Prices In March Spiked To 8.5%

Inflation in the U.S. continues to remain red hot as consumer prices last month increased sharply to 8.5% in March compared to the same month last year. Metrics show the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) spiked last month at the fastest pace since December 1981.

Inflation Continues to Hammer the US Economy — White House Blames Putin

The latest data from the U.S. Bureau of Labor Statistics shows that inflation has continued to rise month over month in the United States. BLS published the organization’s latest CPI numbers and inflation has spiked a great deal since last year. According to the latest CPI numbers, consumer prices in March jumped to 8.5%.

The data follows February’s CPI numbers which showed a 7.9% annual increase in February. Last month’s annual rise was 0.8% higher than the year prior, while March saw a 1.2% jump. According to a Bloomberg data report, “consensus economists” expected an 8.4% increase for March.

Just before the CPI data was released, the White House said that it expected inflation to be “extraordinarily elevated.” White House press secretary Jen Psaki blamed the inflation on Vladimir Putin and Russia when she said: “We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike.”

On Tuesday, the economist and gold bug Peter Schiff told his 686,700 Twitter followers that inflation will not be transitory. “The 8.5% YoY gain in March CPI is the highest since 1981, when interest rates were 20% & CPI was 13.5%,” Schiff tweeted. “Current interest rates are .25%, and using the 1981 CPI the YoY gain is likely 17%. With real rates negative 16.75% now, versus positive 6.5% then, inflation is here to stay.”

On April 8, 2022, northmantrader.com’s Sven Henrich wrote:

We’re now entering the part of the monetary experiment where even millionaires feel poor.

A Few Economists Expect an Inflation Peak Soon

Andrew Hunter, senior U.S. economist at Capital Economics thinks the March increase will “mark the peak” for inflation. “The big news in the March report was that core price pressures finally appear to be moderating,” Hunter said in a note sent to CNBC.

Ian Shepherdson, chief economist at Pantheon Macroeconomics told CNBC in the same report that the latest BLS CPI data is “encouraging.” “Overall, this report is encouraging, at the margin, though it is far too soon to be sure that the next few core prints will be as low; much depends on the path of used vehicle prices, which is very hard to forecast with confidence,” Shepherdson remarked. “We’re sure they will fall, but the speed of the decline is what matters.”

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Joe Brusuelas, chief economist at RSM US told CNN the March numbers might be closer to a peak. “Yes, inflation may soon find its peak. However, that does not imply significant relief is on the way in the near term,”

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Andrew Hunter, Biden, Bureau of Labor Statistics, Capital Economics, consensus economists, Consumer prices, CPI, CPI Data, CPI report, economics, economists, extraordinarily elevated, Ian Shepherdson, inflation, inflation peak, Inflation rising, Joe Brusuelas, Pantheon Macroeconomics, peak, Peter Schiff, press secretary Jen Psaki, Putin, Rising Inflation, RSM US, Russia, Vladimir Putin, White house

What do you think about the inflation in the U.S. surging to new heights at the fastest pace since 1981? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Biden Extended The Student Loan Repayment Freeze Again. Why One Expert Thinks It Might Not Be The Last

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Biden Extended The Student Loan Repayment Freeze Again. Why One Expert Thinks It Might Not Be The Last

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President Joe Biden speaks during an event in April. The Biden administration extended the pause on federal student loan payments until Aug. 31.

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President Joe Biden has once again extended the pause on federal student loan payments — this time until Aug. 31. 

It is the sixth extension since the start of the COVID-19 pandemic, and it comes a few weeks before payments were scheduled to restart on May 1, impacting millions of borrowers who have not been required to make payments.

“We saw this extension coming, and I think it also leaves the door open for another extension,” says Robert Farrington, founder and CEO of The College Investor. “The announcement today made clear that Biden is using his powers under the HEROES Act, which requires there to be a national emergency. As such, as long as there is a national emergency, he can continue to extend it.”

A critical piece of the announcement includes a plan to eliminate the delinquent and default status of all borrowers, effectively giving them a “fresh start” when they enter repayment. According to Farrington, it’s a big win for the borrowers who may have been struggling with payments before the pandemic or were seeing their tax refunds garnished.

“With this change, it will help a lot of borrowers get back on track when payments start,” he says.

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The Biden administration said it’s extending the pause primarily because Americans are “still recovering from the pandemic and the unprecedented economic disruption it caused.” If loan payments were to resume May 1, analysis of recent data from the Federal Reserve suggests that millions of student loan borrowers would struggle to enter repayment, according to a White House statement. 

Still, there continues to be a question mark around widespread student loan forgiveness. Biden has hardly made any mention of it since the start of the year, which has inspired new concerns from advocates and borrowers that he’s walking back on one of his key campaign promises. At the start of the 2020 presidential campaign, Biden had repeatedly said he supported the idea of canceling $10,000 per borrower. However, experts we spoke to at the end of 2021 largely agree that borrowers shouldn’t count on it, and should instead focus on ways they can take control of their student debt right now.  

What Does This Extension Mean For Borrowers?

Though this latest extension is a significant development for student loan borrowers, you shouldn’t change how you’re approaching your student loan debt at this time.

Instead, stay the course. If you’ve been taking advantage of this pause to prioritize other aspects of your finances, keep doing that. Overall, experts recommend using these extra months to help divert some money toward building an emergency fund or pay down more pressing high-interest debt, such as credit cards or private student loans. 

If you feel that you’re in a good spot financially and you want to get ahead of your student loan debt, Farrington recommends setting money aside in a savings account and making a lump-sum payment right before payments start up again. 

Regardless, now is a good time to start planning for when payments ultimately do resume. For example, make sure your personal information on your accounts are updated — such as your address, phone number, and email address — so you can stay on top of any new information about your loans. 

You should also know what you owe, double check the pay-off dates and grace periods for your loans, and review your repayment strategy to see if it aligns with your current financial situation. Lastly, start putting together a future budget now for when payments resume. Take into account any changes to your income and see if you need to cut spending in certain areas to make room for upcoming student loan payments in your budget.

As of right now, federal student loan payments will resume at the end of August, so experts say you shouldn’t set your strategy based on the perceived likelihood that more student loan relief is coming. But it is something to keep an eye out for over the next few months.

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Robert Kiyosaki Warns US Dollar ‘About To Implode’ — Advises Buying Bitcoin, Ethereum, Solana

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Robert Kiyosaki Warns US Dollar ‘About To Implode’ — Advises Buying Bitcoin, Ethereum, Solana

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the U.S. dollar is “about to implode.” Among the investments he suggested are cryptocurrencies bitcoin, ethereum, and solana.

Robert Kiyosaki Foresees Dollar Imploding, Blames Biden for Inflation

The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the imminent collapse of the U.S. dollar. He also suggested investors buy some cryptocurrencies, naming three in particular: bitcoin, ether, and solana.

Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki tweeted Monday warning that the world is in trouble. “National debt to go through the roof,” he wrote, emphasizing that the dollar is “about to implode.” The famous author insisted that President Joe Biden is causing inflation. He then suggested that investors buy more gold, silver, bitcoin, ethereum, and solana before the third world war breaks out.

Kiyosaki has repeatedly warned about the end of the U.S. dollar. He also recently said that we are in the biggest bubble in world history.

Kiyosaki Recommends Bitcoin, Ethereum, and Solana

While Kiyosaki has recommended bitcoin (BTC) many times in the past, and ethereum (ETH) occasionally, he has not recommended solana (SOL) until now. In November last year, he said he was buying more bitcoin and ethereum as inflation escalated.

Many people questioned why he is advising investors to buy solana. SOL supporters see the Rich Dad Poor Dad author’s recommendation as very bullish for the price of the cryptocurrency while others disagree about it being a good investment. One person suspected that Kiyosaki is being paid to promote solana, stressing that the famous author “likes hard money.”

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Another celebrity investor who has been into solana lately is Kevin O’Leary. The Shark Tank star, aka Mr. Wonderful, has been on Kiyosaki’s Rich Dad show and Kiyosaki previously said O’Leary “knows what he is talking about.”

In January, O’Leary said that Solana and Polygon will be two of the most successful projects. However, O’Leary, being a paid spokesperson for crypto exchange FTX, may have been influenced by FTX CEO Sam Bankman-Fried, who said solana could be the next bitcoin. Bankman-Fried and his team have been working on projects built on Solana. “Who’s working on that? Sam Bankman Fried and his team. Why wouldn’t ya bet that horse?” O’Leary said.

Despite his crypto recommendations, Kiyosaki warned earlier this month that the government will seize all cryptocurrencies after they launch a “Fed crypto.” Nonetheless, he subsequently said that the Russia-Ukraine war has given rise to crypto as a safer haven than fiat money.

What do you think about Kiyosaki’s predictions and crypto suggestions? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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