Robert Kiyosaki, the author of several best-seller books, continues to display his support for bitcoin, gold, and silver above all other assets. In his latest tweet on the matter, he praised the aforementioned three assets while warning that the rich will get richer in the wake of the US government’s policies. Sticking With BTC The largest US stock market indexes registered some gains over the week, with the Dow jumping by over 3% and the S&P 500 by just shy of that percentage. The renowned author, businessman, and entrepreneur commented on the matter, as he believes these increases are only because of the removal of the US debt ceiling. Recall that the world’s largest economy faced a major crisis until June when President Biden signed a bill that suspended the country’s
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Robert Kiyosaki, the author of several best-seller books, continues to display his support for bitcoin, gold, and silver above all other assets.
In his latest tweet on the matter, he praised the aforementioned three assets while warning that the rich will get richer in the wake of the US government’s policies.
Sticking With BTC
The largest US stock market indexes registered some gains over the week, with the Dow jumping by over 3% and the S&P 500 by just shy of that percentage. The renowned author, businessman, and entrepreneur commented on the matter, as he believes these increases are only because of the removal of the US debt ceiling.
Recall that the world’s largest economy faced a major crisis until June when President Biden signed a bill that suspended the country’s $31.4 trillion debt ceiling, thus avoiding the nation’s first-ever default.
Kiyosaki, though, who recently predicted that BTC will tap $120,000 soon, believes the government’s decision will only benefit the rich and harm America because the US national debt will increase, just like the stock market. As such, he doubled down on his support for what he referred to as “real assets” – bitcoin, silver, and gold.
WHY is stock market taking off? Because “Debt Ceiling” removed. Means national debt to rise with stock market. Rich get richer as America gets poorer. Sad. Sticking with real money & real assets: Gold, Silver, Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) July 14, 2023
BTC Vs. Gold Vs. Silver YTD
Although Kiyosaki keeps praising the two precious metals as well as BTC, it’s worth exploring their performance as of late, especially on a year-to-date basis.
Silver entered the new year at $23,75 per ounce and jumped to over $26 at one point. However, it since retraced to $22 before climbing back to $24.9 to close on Friday, which gives it a modest 4.84% YTD increase.
Gold’s performance has been rather identical as it started 2023 at $1,827 before it shot up to a yearly peak at $2,080 on May 4. However, it couldn’t maintain its run and fell back down to $1,955 as of Friday’s closing hours. As such, the yellow metal is up by 7% so far this year.
Bitcoin, on the other hand, started the year on a positive note after the devastating 2022 bear market. It quickly surged from its January 1 price of $16,700 to over $20,000 and just this week tapped a 13-month peak at $31,850.
Despite losing some ground and currently trading at $30,300, the cryptocurrency’s YTD gains stand at just over 80%, making it the best-performing asset so far this year.