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Saturday, January 22, 2022

Wealthy Dad Poor Dad Writer Buys Extra Bitcoin And Ethereum To Fight Inflation

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Robert Kiyosaki, the writer of the New York Occasions bestselling ebook, “Wealthy Dad Poor Dad,” says he’s shopping for extra Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) to counter the consequences of inflation.

What Occurred: In a tweet final week, Kiyosaki known as inflation a “tax on the poor and center class” however claimed it was a approach for the wealthy to get “richer.”

Earlier this yr, Kiyosaki predicted a “large inventory market crash” would unfold in October 2021 and warned that holding shares would show harmful. These predictions are but to return to fruition.

Nonetheless, Kiyosaki’s notion of Bitcoin as an inflation hedge shouldn’t be inconceivable. Latest knowledge indicated Bitcoin’s 30-day correlation with tech shares had fallen to close zero.

Since February 2020, correlation knowledge recommended Bitcoin had largely been shifting in tandem with the Nasdaq 100, which tracks a basket of the 100 largest tech shares together with Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Apple Inc (NASDAQ:AAPL), Meta Platforms Inc (NASDAQ:FB), As of November, the main digital asset ended its 21-month correlation with the index.

BTC Value Motion: On Monday morning at publication, Bitcoin was buying and selling at $57,034.60, gaining 5.06% within the final 24 hours.

Photograph by Thought Catalog on Unsplash

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