Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad”, took to Twitter Inc (NYSE:TWTR) on Monday to recommend buying what he believes to be the best investments in an environment of rising inflation.
What Happened: Kiyosaki said that stocking up on products that you will “always use” such as toilet paper, trash bags, gold, and Bitcoin (CRYPTO: BTC) may be the best choices for beating inflation.
BRANDON & FED want INFLATION to pay off trillions in debt. BEST INVESTMENT may be stocking products you will always use such as toilette paper, trash bags, canned goods, frozen foods, gold, silver, Bitcoin. I do not trust Brandon or Fed. They are Marxists. End the Fed & Brandon.
— therealkiyosaki (@theRealKiyosaki) March 14, 2022
The author’s comments come less than a week after he predicted that Bitcoin’s days were numbered and that the U.S. government would likely seize all cryptocurrency and turn it into “government crypto.”
Still, Kiyosaki’s reasoning that holding physical items and cryptocurrency as investments to combat inflation was shared by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk.
He reiterated that he has no plans to sell any of his Bitcoin, Ethereum (CRYPTO: ETH), or Dogecoin (CRYPTO: DOGE) holdings.
As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.
— Elon Musk (@elonmusk) March 14, 2022
I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.
Billionaire tech entrepreneur and Dallas Mavericks owner Mark Cuban also shared his views on the assets most likely to be hit by inflation.
“In a low-interest rate world, any asset that can be speculated on will see accelerating inflation when there is increasing demand and/or hoarding for supply protection. When the uncertainty is diminished or ends, the shorts come in and the market normalizes,” said Cuban.
Price Action: Bitcoin was trading at $38,750 down 1.02% in the last 24 hours. Ethereum was trading at $2,570, down 0.39% and Dogecoin was trading at $0.11, down 1.29% over the same period.
Photo by Gage Skidmore on Wikimedia
