Tag: Silver

Rich Dad Recommends Bitcoin Instead of Real Estate

by Blockchain News

Robert Kiyosaki, the financial educationist, popularly known as Rich Dad, has come out openly to denounce real estate as an investment alternative, but now he has changed his mind.

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Taking on Twitter over the weekend, Kiyosaki noted that he described, in his new book for 2022, dubbed the Capitalist Manifesto, how a Marxist is now governing the United States.

As described by Kiyosaki, under Marxist rulership, property taxes will be raised, rent controls will be imposed, and interest rates will also be hiked. According to him, all of these events will continue to impact the value of property taxes. 

Coming from the COVID-19 pandemic period that was ushered in in the first quarter of 2020, the government has taken two distinctly different directions as it concerns the interest rates in the country. At first, the interest rate was lowered to zero as the government attempted to help cushion the economy adversely impacted by lockdowns and layoffs affecting businesses.

Afterwards, the government reversed course when it discovered the economy had somewhat recovered from the pangs of the COVID-19 pandemic. The government started raising interest rates this year, and by general statistics, the real estate industry has been seeing generally low listings as prices are not favourable to buyers.

Despite the current economic conditions affecting every asset class, Robert Kiyosaki revealed that he is recommending Bitcoin as a reliable investment asset. Unusually, the financial guru also noted that he is classifying Gold and Silver alongside the asset classes that can serve as a good hedge against current inflation.

It has been a rollercoaster for the United States Federal Reserve as its interest rate hikes, targeted to tame inflation, have not really helped, with the last inflation figure pegged at about 8.2% for September.

While the price of Bitcoin is not particularly encouraging considering its deviation from its All-Time High (ATH) value back in November last year, the coin is tapped as one backed with solid fundamentals that can drive its growth in both the mid-to-long-term.

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Rich Dad Poor Dad Author Says Market Meltdown ‘Good News’ for Hard Assets Like Bitcoin, Dismisses Crypto Volatility

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki says an impending market meltdown would be “good news” for Bitcoin (BTC) despite the leading crypto asset’s recent price volatility.

In an interview with Danielle Cambone of Stanberry Research, Kiyosaki doubles down on his predictions of a major market crash from which holders of crypto and precious metals will benefit.

“… I’m hardcore silver and you know I’m [in support of] Bitcoin and all this, I’m a hard asset guy.

So [a market meltdown is] good news for us, but it’s bad news for the boomers. Very bad news.”

The best-selling author goes on to say that those with early entry points to hard assets won’t have to worry about extreme volatility triggered by a financial cataclysm.

“So as my rich dad said to me, ‘A profit is not made when you sell but when you buy,’ 

And so you always want to be early into the market.

So Bitcoin going up and down – I don’t really care because my entry point [was] $6,000. It’s always your entry point and how many… coins do you have.”

Kiyosaki says that he favors precious metals for having zero counterparty risk, and Bitcoin and Ethereum for being the networks outside of the purview of the Federal Reserve and the financial system.

“Gold and silver are ‘God’s money.’ There’s no counterparty risk to gold and silver. They’re elements of the periodic table. So God is the counterparty to gold and silver. Bitcoin is a network system, the same as Ethereum, it’s a network outside of the control of the Fed. 

So when people say that the Fed is going to shut down Bitcoin and all that, it’s possible, they did that in China, [but] anything’s possible today. So I would just listen to idiots like me.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Rich Dad Poor Dad Author Issues Dire Warning on Inflation, Says He’s Buying Bitcoin, Ethereum and Two Additional Assets

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki is concerned that working-class Americans will be wiped out by rising inflation unless they invest in several key assets.

In a YouTube video on The Rich Dad Channel, the widely known author says that true capitalism has been abandoned, and the government instead intervenes on behalf of banks.

“The reason they’re talking about inflation or deflation is because, way back when, in the 70s, a true capitalist would let a business fail. According to [Austrian political economist Joseph] Schumpeter, capitalism destroys inefficient companies.

If you look at one example, not too long ago there was Blockbuster Video. Then Netflix came along and they’re toast. They’re just gone. A true capitalist wipes out the inefficient or the obsolete.

But for the last so many years, since 1907 really, they’ve been saving the banks. The banks are so corrupt, and the reason the Federal Reserve had to come in was to protect the rich bankers.

And what they did was, back in 2008 there was quantitative easing, which is a very complex subject, but basically the Fed just prints money and gives it to banks to prevent them from failing. That’s not capitalism, that’s Marxism. That’s socialism, that’s communism. It’s called central banks.”

Kiyosaki warns that unlimited money printing as part of official government policy will eliminate the working class.

“The reason inflation is going to wipe out people is because the average person is a consumer. Everybody talks about, ‘T-bone steak [costs] this now, and gasoline’s this and toilet paper is that.’

That’s because… Everything’s to protect the bankers. And that’s why I feel for the working-class people. I think it’s criminal that our school system is part of Marxism. There’s no financial education in the schools and it’s not a mistake.

To the people who are complaining about inflation, just know it’s because the Federal Reserve Bank, the U.S. Treasury… they’re as corrupt as they come.”

The author tells his 1.8 million followers on Twitter that the recent 25% price increase at discount retail chain Dollar General is a bellwether event signaling that investors should protect themselves by picking up some cryptos like Bitcoin (BTC) and Ethereum (ETH), as well as gold and silver.

“Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer.

Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil. What are you buying?”

CNN Business reported this week that Dollar Tree cited rising inflation and the ongoing supply chain crisis as reasons why it planned to permanently abandon its longstanding $1 price point on all products.

At time of writing, Bitcoin is valued at $55,190, Ethereum is exchanging hands for $4,367, gold is going for $1,781, and silver is worth $22.44. Kiyosaki also issued a warning in September that a major stock market crash would occur in October of this year.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Outperforms than Commodities in 2021 Amid Dormant BTC Circulation Going a Notch Higher

by Blockchain News

After nosediving to lows of $30K in May as China intensified crypto mining crackdown, Bitcoin (BTC) is back to winning ways when it recently has reached a 6-month high of $60K.

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The benchmark cryptocurrency has emerged the top amongst commodities, as acknowledged by CryptoCompare. The market insight provider explained:

“Bitcoin is the best performing asset compared to commodities. This year BTC has returned 96%, outcompeting crude oil by 27% despite the asset reaching its highest price since 2014. Gold and silver have also been outperformed -yielding 39.4% and -12.6% respectively.”

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Earlier this month, Bitcoin’s dominance skyrocketed as market capitalization topped $1 trillion. These are some of the factors that have made BTC outperform commodities. 

Dormant Bitcoin on the move

According to on-chain metrics provider Santiment:

“Bitcoin’s dormant coins continue to circulate at encouragingly high rates. When the average age of BTC investments flattens, it encouragingly indicates circulation is moving enough for a bull run.”

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Therefore, Santiment believes this high circulation rate could prompt a bull rally, and if this happens, the all-time high (ATH) price of $64,800 might be breached.

Meanwhile, the long-term holding supply growth is expected to decline if the ATH price is broken. Crypto analytic firm Dilution-proof noted:

“Last month, during the recent Bitcoin price run to $65K, growth of the long-term holder (LTH) supply & the negative exchange flows slowed down. It is likely that the LTH supply growth slows down further after we break ATH, as LTH tends to sell against market strength gradually.”

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Bitcoin’s realized capitalization breaks the record

Bitcoin’s realized capitalization has been on an upward trajectory because it reached a record high of $415,527,771,448.34.

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Realized market capitalization is a metric calculated by valuing each supply unit at the exact price it last moved on-chain or at the last time it was transacted. 

As a result, it does not calculate coins that remain unmoved because cryptocurrencies can be lost, unreachable, or unclaimed. This contrasts with the standard market capitalization that values every supply unit evenly at the current market price.

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‘Rich Dad Poor Dad’ Author Says Biggest Crash in World History Is Coming – Here’s His Outlook for Bitcoin, Silver, and Gold

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki is expecting the biggest crash in history to take Bitcoin (BTC) down along with other financial markets, but does think that this impending crisis will provide investors the “best time to get rich.”

In a new interview on Kitco News, the widely known author explains his take on the future of financial markets.

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Kiyosaki believes that the massive amount of debt accumulated by countries around the world will trigger an unprecedented market crash that even hard assets like gold, silver, and Bitcoin won’t be able to avoid.

“This is gonna be the biggest crash in world history. We’ve never had this much debt pumped up. Debt is the biggest problem of all, but that’s called ‘M2,’ money supply, and the debt-to-GDP ratio is out of sight.

So when it comes down [and] brings everything down with it, that’s when I’m going to be buying more gold, silver, and Bitcoin.”

If his prediction plays out, Kiyosaki says that in the long run, the downturn will offer a lot of upside to those who are willing and able to invest.

“When markets crash, it’s the best time to get rich. So I’m getting very excited about a crash coming because the better stocks will come available…

Unfortunately, there will be massive social unrest. That’s what I’m more concerned about because we have not reinvested. The [Federal Reserve] and the Treasury have only invested in the investor class, [and not] the working class.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Now Or Never: Litecoin Plummets To Bottom Of Top Ten Crypto Assets

by NEWSBTC

Litecoin is often called the silver to Bitcoin as digital gold, and strangely, the two cryptocurrencies and two precious metals are exhibiting the same behavior where one is lagging behind the other.

The lack of momentum in the digital and physical forms of silver have kept the price of both assets at bay for the entire recent bull market in each class. With no growth in Litecoin compared to other cryptocurrencies, the altcoin is only a billion dollars away from losing the top ten cryptocurrency by market cap status – something its held pretty much since its inception.

“Digital Silver” Is The Altcoin That Simply Won’t Shine

Litecoin is an offshoot of the original Bitcoin code, created in 2011 by former Google and Coinbase engineer Charlie Lee.

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Much like how on a per ounce basis gold is more both more scarce and valuable than silver is, there are four times as many total LTC compared to Bitcoin’s 21 million BTC.

Related Reading | Digital Silver: Why Litecoin Is Poised To Bounce Versus Bitcoin

In addition, there’s faster transactions, among other benefits. Outside of the few differences, there’s mostly similarities between them – including a hard-coded halving recurring every four years or so.

litecoin versus bitcoin ethereum Litecoin is severely lagging behind the rest of crypto | Source: LTCUSD on TradingView.com

But unlike Bitcoin, that halving amounted to very little in terms of sustainable returns for investors of the altcoin. The cryptocurrency is lagging far behind Bitcoin, Ethereum, and most other cryptocurrencies in the market.

Also unlike Bitcoin or Ethereum and several other altcoins, Litecoin has failed to set a new all-time high since the bull market began.

Even gold has set a new price record, while silver still trades well below its. It is bizarre that the asset dubbed digital silver, is following the path of physical silver so well, versus the rest of the crypto world.

Litecoin At Risk Of Losing Top Ten Crypto Status

The continued underperformance of Litecoin compared to there rest of the market, however, could knock the cryptocurrency out of the top ten assets ranked by market cap, according to price aggregator CoinMarketCap.

The animated GIF above is a look back at the past decade or so the historical snapshots will go back, taken from the first ever date, then annually each March closest to the end of the month.

Every single snapshot, Litecoin is ranked anywhere from number two to ten, and every rank in between. It’s never had the number one spot, but it’s also never lost the top ten.

Related Reading | Five Signs Litecoin Has Bottomed, Next In Line For New ATH

But the likes of Chainlink, Stellar, and Bitcoin Cash are all right on its tail, some within a $1 billion striking distance for making history for unseating Litecoin. Each of the three assets have also had a stint in the top ten themselves.

There’s also a rising stablecoin – USD Coin – right on its tail, and with more stablecoins being created monthly, the chances of it taking out the altcoin are also high.

Could a fall out of the top ten and from grace be a fatal blow for the coin, or is sentiment reaching this deep of a low in the coin a sign that capitulation is setting in and things might finally turn around?

Given how far behind Litecoin is, the low supply, several bullish technicals, and more, the altcoin could end up shocking the world when it finally does.

Featured image from Deposit Photos, Charts from TradingView.com

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Peter Schiff’s son moves 100% of his portfolio into Bitcoin

by Cointelegraph

Spencer Schiff, the son of gold bug and major Bitcoin (BTC) critic Peter Schiff, seems to have decided to move all his portfolio investments into one single asset, Bitcoin.

“My son went all in on Bitcoin on the last drop below $50k. 100% of his portfolio is now in Bitcoin,” gold bug Schiff announced Wednesday on Twitter. The famous Bitcoin skeptic specified that his son sold the last of his silver stocks for cash.

Schiff went on to express concerns over the investment choices of the younger generation, stating, “If my own son is this brainwashed imagine how vulnerable most kids are. He’s HODLing to infinity or bust.” 

The crypto community has widely welcomed the announcement, with many people expressing confidence that the 100% Bitcoin investment will make Schiff’s son richer than him. “At least someone in your family is growing their wealth this year,” Morgan Creek Digital’s co-founder Anthony Pompliano subsequently wrote.

In response, Schiff said, “I need to disinherit him. Otherwise he will squander my hard earned wealth on more Bitcoin.” Schiff also emphasized that his own portfolio is not limited to gold, and the “vast majority” of it comprises equities.

Despite Schiff’s criticism of his son’s decision to go 100% Bitcoin, Schiff himself apparently played a big role in this decision. Apart from regularly tweeting about Bitcoin, Schiff was the one who initiated the idea of Bitcoin birthday gifts for his son on Twitter in 2020. Schiff subsequently insisted that his son was investing in Bitcoin “against his advice.”

A vocal Bitcoin critic, Schiff claimed in 2019 that Bitcoin would have never hit $50,000. Following Bitcoin’s rally up to $57,000 in February 2021, Schiff admitted that a move up to $100,000 “can’t be ruled out either.”