Rich Dad Poor Dad Author Keeps Promoting Bitcoin Amid Fed's Bailouts

  • Rich Dad Poor Dad author Robert Kiyosaki criticized the Fed's money printing scheme in response to the coronavirus pandemic.
  • Kiyosaki says $425 billion of Congress's $2.2 trillion stimulus package is earmarked for the central bank. 

Rich Dad Poor Dad author Robert Kiyosaki has continued to support bitcoin amid the U.S. Federal Reserve's money printing plan to support the economy.

Kiyosaki, who has been critical of the federal government’s economic response to the coronavirus pandemic, took to Twitter to explain a finding in Congress’s most recent stimulus bill. 

In a tweet published April 13, Kiyosaki claims $425 billion of the US Congress’s unprecedented $2.2 trillion economic relief bill is earmarked for the central bank. Kiyosaki says the money will be used to bail out the Fed and claims the government is attempting to obscure their agenda from the general public. 

The personal finance author also advocated for investors to buy more bitcoin and precious metals in lights of the Fed’s tactics. 

Cryptocurrency hardware wallet manufacturer Ledger replied to Kiyosaki with a tongue-in-cheek tweet, pointing out how expensive it is for the Fed to continue printing trillions of dollar. 

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Tim Draper Reveals He Owns Cryptocurrencies Other Than Bitcoin

Michael LaVere
  • American venture capitalist Tim Draper revealed owning more crypto-assets than just bitcoin.
  • Draper expects the value of bitcoin to increase as a result of the Federal Reserve's money-printing tactics. 

American venture capitalist and bitcoin bull Tim Draper claims to own “a lot of other cryptocurrencies” in addition to BTC. 

Speaking in a recent interview with British entrepreneur Rob Moore, Draper claimed that his diversified portfolio in crypto-assets had led to him being “surprisingly up” despite the economic impact of the coronavirus. 

He said, 

You know, when I played Monopoly, I never showed anybody how much money I had so so that you're not gonna get an up or down.

Draper also criticized the U.S. Federal Reserve’s money-printing response to the COVID-19 pandemic, which he said would lead to the dollar crashing in value. He claimed the impact of the falling dollar would drive more value into bitcoin. 

He said, 

There are only 21 million of them and they are going to be more and more valuable as you see governments have less and less.

Draper continued, saying his experience working as a venture capitalist and interviewing entrepreneurs has given him a “pretty good view” of what the future is going to look like. He expects governments to move towards decentralization in a competition for their own citizens. 

Featured Image Credit: Photo via Pixabay.com