- Bitcoin has been a tear in recent months, rallying 50% in the past four or five weeks alone.
- Robert Kiyosaki says that the rally in the price of Bitcoin against gold and silver (and against the dollar) shows that the U.S. dollar is “dying.”
Bitcoin Rallying Due to Death of U.S. Dollar
Bitcoin has been a tear in recent months, rallying 50% in the past four or five weeks alone. Unsurprisingly, this hasn’t gone unnoticed by investors across the globe.
Robert Kiyosaki, the famous author and entrepreneur behind the book “Rich Dad Poor Dad,” recently commented on the recent rally. He said that the rally in the price of Bitcoin against gold and silver (and against the dollar) shows that the “dollar [is] dying.
“Bitcoin boom beating gold and silver. What does that mean? It means you better buy as much as you can now. Train is moving. Dollar dying. Silver still affordable for everyone. As dollar crashes what counts is not price but how many coins of gold, silver, or Bitcoin you own.”
Bitcoin boom beating gold and silver. What does that mean? It means you better buy as much as you can now. Train is moving. Dollar dying. Silver still affordable for everyone. As dollar crashes what counts is not price but how many coins of gold, silver, or Bitcoin you own.
— therealkiyosaki (@theRealKiyosaki) November 13, 2020
Kiyosaki also recently added that he thinks investors should buy Bitcoin and silver no matter who wins the presidential election. The investor has long waged a war against the U.S. central bank, the U.S. Federal Reserve, for printing dollars to the tune of billions or trillions each year:
“Obviously I want Trump to win. We have written two books together. His sons are friends. Yet I support your right to vote for your choice. Regardless who wins keep buying gold silver Bitcoin. Bitcoin born 2009. Real villain Fed and Treasury. Keep buying gold, silver Bitcoin.”
BTC To Outperform Dollar
Although many wouldn’t go as far as to say that the Dollar is dying, many do agree that Bitcoin will be the outperformer in the years ahead.
Stan Druckenmiller, one of the world’s most respected asset managers, recently said that he thinks the U.S. dollar will drop heavily in the years ahead. He said in that same interview with CNBC that he thinks Bitcoin is a better bet on inflation than gold, though he noted that he owns more of the precious metal than gold. He did admit, though, that he thinks Bitcoin will become a viable asset class in the years ahead.
Paul Tudor Jones, another billionaire Wall Street investor, has echoed his comments. Tudor Jones has invested in BTC as well and claimed in a research note earlier this year that owning Bitcoin is logical when the world is undergoing its most uncertain macroeconomic and geopolitical shift in many decades, potentially ever.
Many see BTC as a solid bet against macroeconomic uncertainty due to its decentralized and global properties.
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k
