Bestselling author and popular financial motivatorRobert Kiyosaki, known for his book "Rich Dad Poor Dad," made an unexpected statement today which, despite his usual posts, consisted of just three words: "best asset today."
According to the author, the asset that deserves such an honor right now is...silver, with the price of the metal destined to hit $50 an ounce, in his opinion. Although silver has previously been mentioned byKiyosaki on a par with gold andBitcoin, it has usually received less praise than the latter two.
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There are several reasons for this performance. From a technical point of view, it is the huge "cup and handle" pattern that usually plays on the bullish side and, once completed, can precede large upward price movements.
BEST ASSET TODAY: SilverâŚ.buy it before it hits $50.00.
â Robert Kiyosaki (@theRealKiyosaki) October 22, 2024
Another reason is that gold is now hitting all-time highs on a daily basis, and that is when the fear of missing out drives traders and investors to chase beta in order to cut their own slice of the pie.
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On a more fundamental note, silver is in high demand today and is actively used in the medical, engineering, photographic, electronics and defense industries.
At the same time, 95% of the world's silver is used for industrial purposes. Combine this with the fact that there is very little silver in free circulation, and you have the perfect storm.
ForBTC and gold, the rise of silver may mean less attention and less volatility in general, but that remains to be seen.
