Following the July launch of the ‘FedNow Service,’ the instant payment infrastructure developed by the United States Federal Reserve, Robert Kiyosaki expressed concerns over its implications, urging his followers to stock up on Bitcoin (BTC), gold, silver, and cash, sooner rather than later.
Specifically, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ said that the “FED CBDC [was] coming,” referring to the widespread view that the ‘FedNow’ payment system is the preparation for the introduction of a nationwide central bank digital currency (CBDC), in an X post on September 29.
According to Kiyosaki, the Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,” and suggests investing in these assets and saving them “now before it’s too late.”
Indeed, the ‘FedNow’ system officially went live on July 20, 2023, amid criticism coming from all sides of the political spectrum in the US, including Democrat presidential candidate Robert F. Kennedy Jr., who warned that a CBDC would lead to “financial slavery and political tyranny.”
Bitcoin price analysis
As things stand, the price of Bitcoin is currently $27,162. This represents a 2.72% gain on the day and an increase of 1.83% across the previous week as the cryptocurrency market slowly recovers. However, on its monthly chart, the maiden cryptocurrency is still recording a decline of 1.03%.
As a reminder, the ‘Rich Dad Poor Dad’ author has recently also pointed out that the time was running out to get the flagship decentralized finance (DeFi) asset, as well as gold and silver, which he highlighted were still a relatively cheap investment, as Finbold reported on September 20.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.