Businessman and author Robert Kiyosaki is a known Bitcoin proponent who has made several statements in favor of the asset, especially on Twitter. Kiyosaki has added another pro-Bitcoin tweet that unsurprisingly supports Bitcoin and seems to tackle the US Federal Reserve at the same time.
Kiyosaki, most popular for his 1997 book ‘Rich Dad Poor Dad’, took to Twitter, to comment on the Fed’s rescue efforts for the American economy, as the coronavirus continues to shred the financial market. In the tweet, he accused the Fed of hiding information about the bailout it recently announced.
“IS FED BROKE? Hidden in recent $2.2 trillion Congress rescue bill was buried $425 Billion for Fed. Fed has been bailing out the world since 2008. Who bails out the Fed? Now we know. We are. Why are Fed and Treasury hiding this from us? Buy more gold silver & Bitcoin. SCREWED.”
Kiyosaki suggests that the Fed’s actions, which seem to be very supportive of the financial system as a safety net, shows that even the Fed might have to rely on the public for a bailout much later. He fears that the Fed’s 12-year history of bailouts might come back to bite it in the future.
Shortly after, crypto hardware wallet maker Ledger jumped on the tweet. Obviously taunting the Fed by explaining that the money printer is “expensive to operate”, Ledger seemed to agree with the irregularity pointed out in Kiyosaki’s tweet, and then encouraged people to hodl.
In a different tweet posted about an hour earlier, Kiyosaki admits that in theory, the Fed cannot go broke. Regardless, he warns that people could lose confidence in both the institution and the power of the dollar, forcing the International Monetary Fund (IMF) to step in.
Earlier in April, Kiyosaki posted a tweet, pointing out that the US’ debt has increased to 110% and is still climbing higher and with all of that, the Fed is still printing more dollars. He ended the tweet by proclaiming gold, silver, and Bitcoin as great alternatives, just as above.