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Prominent investor and entrepreneur Robert Kiyosaki, famous for his classic non-fiction book on personal finance management “Rich Dad Poor Dad”, posted a bullish tweet on Bitcoin after his recent astonishing move, which took BTC to the above the $62,000 level.
Over the past 24 hours, Bitcoin, the world's flagship cryptocurrency, has skyrocketed more than 11%, briefly surpassing the $63,000 level.
Robert Kiyosaki praises Bitcoin over the US dollar
Financial and investment expert Kiyosaki posted a tweet to comment on Bitcoin's breathtaking surge over the past 24 hours from the $57,140 area to the $63,650 level. A pullback followed this massive rise, sending BTC down a bit and back to the $62,770 level, where it is exchanging hands at press time.
Earlier this week, the financial expert took to social media platform X to let his 2.1 million followers know that he was buying Bitcoin. The main reason for this is that Kiyosaki believes that the banking crisis is now worsening and that risks are also increasing in the geopolitical sphere.
The financial guru also made a point of mentioning that central banks around the world are preparing to launch their own centralized cryptocurrencies (CBDC) in order to spy on the population. For these reasons, the “Rich Dad Poor Dad” author tweeted, he was buying more Bitcoins as well as silver coins to use instead of “fake US dollars” as currency.
However, if Bitcoin collapses, Kiyosaki said recently that he would be happy about it and would simply acquire more of the leading digital currency. “Sell” is his favorite word about the financial markets because it presents an opportunity to buy assets during a downturn.
Kiyosaki recently criticized the Federal Reserve, saying it has ruined the U.S. economy and made the lower and middle classes poorer than they were before.
Here's What's Driving Bitcoin Up
Bitcoin has been rising stubbornly recently due to growing interest from spot exchange-traded funds and the general bullish sentiment that has grown because of it. Spot ETFs were approved by the SEC on January 11 and since then these companies led by BlackRock and Fidelity have harvested 12 times the Bitcoin that miners are capable of minting each day.