Robert Kiyosaki Slams Biden While Urging Bitcoin Buying Amid Geopolitical Turmoil

Kiyosaki advocates Bitcoin buying, among other assets, amid geopolitical tensions, emphasizing its role as a hedge against economic downturn.
By Rupam Roy
Robert Kiyosaki Bitcoin

Renowned author Robert Kiyosaki, best known for his book “Rich Dad Poor Dad,” has once again reiterated his stance on Bitcoin, as the largest crypto by market cap hit a new high in about 19 months. In addition, he has taken to social media to share his unique perspective on the Israel-Hamas conflict, tying it to his decision to purchase an electric vehicle (EV).

Kiyosaki suggests that the war’s primary motivation is related to oil, criticizing President Joe Biden’s stance and warning against the potential economic impact of higher gas prices. Notably, he urges followers to resist and safeguard their financial well-being by investing in alternative assets like gold, silver, and notably, Bitcoin.

Advertisement
Advertisement

Robert Kiyosaki Advocates Bitcoin Buying Amid Geopolitical Turmoil

In a recent post on the X platform, Robert Kiyosaki expressed his concerns about the Israel-Hamas conflict, attributing his decision to buy an electric vehicle to the war’s connection to oil. Notably, he voiced his distrust of President Biden and what he perceives as a puppetry role controlled by “woke liberals.”

In addition, Kiyosaki’s message encourages individuals to take control of their financial future by investing in tangible assets like gold and silver, but notably, he emphasizes the significance of Bitcoin as a means to resist potential economic downturns caused by political decisions.

Meanwhile, Kiyosaki’s bold stance aligns with his previous endorsements of Bitcoin as a hedge against economic uncertainty. His message implies that cryptocurrency could serve as a refuge in times of geopolitical instability, emphasizing its decentralized nature and independence from traditional financial systems.

Also Read: XRP Lawyer John Deaton Lauds Michael Saylor On Holding Bitcoin

Advertisement
Advertisement

Recovery Path Of Gold & Bitcoin

Amidst Kiyosaki’s advocacy for alternative assets, gold prices have witnessed a notable surge in Asian trade. This rally was fueled by market speculation that the Federal Reserve might commence interest rate cuts as early as March 2024.

In addition, the positive outlook on gold is influenced by factors like inflation easing, subdued labor market data, and a less assertive stance from central banks. Yet, there’s an underlying concern about a potential upcoming recession, which might also be contributing to the recent gold rally. It’s worth noting that gold has traditionally served as a hedge against economic downturns.

On the other hand, the escalation of the Israel-Hamas conflict heightened concerns, driving investors towards traditional safe-haven assets like gold. Meanwhile, Kiyosaki’s call to “fight back” against potential economic challenges aligns with the broader trend of investors seeking refuge in alternative assets like Bitcoin and gold amidst global uncertainties, both political and economic.

The Bitcoin price, as of writing, hit an 18-month high of $41,525.46 in the last 24 hours, and currently trading at $41,446.94, up 5.11% from yesterday. On the other hand, the February Gold futures ticked up 0.77% to $2,106 at the same time. Comparing the YTD performance of both assets, Bitcoin has returned gains of around 144%, while the latter soared only around 16%.

Also Read: NFT Market Sees Major Power Shift From OpenSea to BLUR

Advertisement
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.