• Insight into Asia's Tech Scene

    News, Opinions, & Ecosystems

  • The Blog

    With bitcoin, goud and silver you step out of the system

     

    The author of the book Rich Dad Poor Dad, Robert Kiyosaki, discussed bitcoin in a podcast with Morgan Creek Digital founder Anthony Pompliano.

     

    Step out of the system

    "The reason I endorse bitcoin is for one reason only: you're not part of the system," Kiyosaki-san said. "It's a separation between government and my money. This sounded like music to Pompliano's ears, he has been saying this for years.

     

    Fresh look

    Throughout the interview, they discuss economic concepts. Kiyosaki says he now sees the world through the lens of someone who has seen the light of what he calls a manipulated system. What he is actually referring to is how America deals with the financial resources during the corona crisis.

    The Fed is not a bank, it is a cartel owned by the richest people in the world, which we will never see. The men who own the Fed control the world.

     

    No underestimate

    Kiyosaki acknowledges that the coronavirus is real. "But then you get so desperate that you take money," he added. He is referring to the money that the U.S. government wants to distribute to citizens. The author calls it communism.

     

    Gold, silver and bitcoin

    The writer says that gold, silver and bitcoin are ways to escape inflation and the controlled system.

    The reason is that you leave the central banking system, and you're outside the system. That's why I say gold and silver are God's money and I call bitcoin the money of open source people.

    Kiyosaki is a bit of a polarizing figure. He wrote his bestseller Rich Dad Poor Dad in 1997 and since then he has been a welcome guest in the American media landscape. However, there are many YouTube videos and articles that question his claims.

     

    By the way, he doesn't only share his opinion in books and podcasts. Kiyosaki also tweets a lot about bitcoin lately. That said, for a writer, his online style of writing is sometimes difficult to decipher.

     

    This is why bitcoin can go to $8,000 next week

    Fireworks at last! Yesterday the bitcoin rate rose by almost ten percent in four hours. For a moment 7,800 dollar (7,265 euro) was tapped, but bitcoin couldn't maintain that level for long. At this moment the rate is still relatively high with over 7,500 dollar (6,985 euro). What can we expect from the price in the coming days?

    Yesterday bitcoin broke through the strong resistance 7,400 dollars (6,890 euros), that's the orange bar on the chart. Earlier, the price has made several attempts to break out of this zone, without success (red arrows).

    But on the way up bitcoin encountered another resistance at 7,800 dollars (7,260 euros), the red bar on the chart. On the far left of the chart, you can see that this level was first a support, before the final blow to the low of 3,800 dollars (3,540 euros).

     

    From the low point bitcoin has already risen with 96 percent in value! If you bought exactly at the bottom, the value of your investment has now almost doubled. Easier said than done by the way, the low point was reached around 3 am.

     

    New target is $8,000

    We zoom a lot further out on the graph. You're looking at the price of March last year up till and including now, every candle on the chart now represents a day.

     

    May 2, 2020
    April 27, 2020
    All Posts
    ×