Financial writer and known crypto advocate, Robert Kiyosaki is once again urging his followers to invest in Bitcoin (BTC).
In an October 22 post on X, the author of Rich Dad Poor Dad called the asset the world’s “first truly scarce money,” highlighting its limited supply.
He further added that the scarcity will only intensify as the remaining unmined supply dwindles.
‘Bitcoin and Ethereum are real money’
Just hours later, Kiyosaki doubled down on his take, distancing himself from “clickbaits” in crypto media and advising investors to value substance over hype.
In a new social media post, the author criticized sensational headlines predicting both Bitcoin’s collapse and potential meteoric rise.
To punctuate his rant, Kiyosaki pointed to the U.S. national debt of $37 trillion as a key indicator of why he believes in hard assets, such as precious metals. However, he also stressed that Bitcoin and Ethereum (ETH) are likewise the “real money” today.
Bitcoin still weak
Clickbait or not, Bitcoin keeps facing weakness this week. It is still down nearly 4% on the monthly and north of 1% on the seven-day chart, trading at $109,665 at the time of writing.
BTC seven-day price. Source: CoinMarketCapDaily trading volume has likewise dropped 27.34% to $74.78 billion. However, its market cap seems to be recovering, having gained 1.27% on the day and sitting at $2.18 trillion as per CoinMarketCap.
Investors are now patiently awaiting new Consumer Price Index (CPI) reports scheduled for tomorrow, October 24, which is set to be one of the primary macroeconomic events that could affect the crypto’s price and decide its trajectory during the remainder of the month.
Disclaimer: The featured image in this article is for illustrative purposes only and may not accurately reflect the true likeness of the individuals depicted.
Source: https://finbold.com/r-kiyosaki-warns-bitcoin-fomo-is-real-so-dont-be-late/
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