Robert Kiyosaki, a famous investor and author of nonfiction books on financial self-literacy — "Rich Dad, Poor Dad" is the most famous one — took to Twitter to share his take on the current state of the global economy and the possible role of Bitcoin in it.
"We are in a global recession," "Bitcoin is priceless"
Kiyosaki believes that the current state of the global economy is worse than the Great Depression that hit the U.S. in the early thirties of the last century. The investor reckons that the world has entered the state of a global recession, and a "rough landing for the world" is coming now.
He mentioned a wave of bankruptcies, companies laying off their staff, including those in the crypto space, a surge in the number of homeless people and "retirements [being] toast." That was what Kiyosaki referred to as the bad news. However, he pointed out that there is still good news too: "bargains everywhere," silver and gold getting cheaper and "Bitcoin is priceless" now, he stressed in his tweet.
Q: WHATIS WORSE THAN A GREAT DEPRESSION? A: a global recession. UNFORTUNATELY we are in GLOBAL RECESSION. Hang on. Rough landing for world. BAD NEWS Bankruptcy, Unemployment, Homelessness soar. Retirements toast. GOOD NEWS. Bargains everywhere. Gold, Silver, BC PRICELESS.— Robert Kiyosaki (@theRealKiyosaki) January 28, 2023
Kiyosaki keeps buying Bitcoin
On the last day of 2022, the vocal Bitcoin investor stated that he was optimistic about the flagship digital currency BTC and kept buying it. The main reason for this was that BTC was classified by U.S. regulators as a commodity, similar to gold and silver (which he invests in as well, believing them not only to be stores of value but also silver to be useful in various industries in the future).
As for altcoins, the "Rich Dad, Poor Dad" author reckons that the majority of them are classified as securities and "SEC regulation will crush them all." Therefore, Bitcoin is the only crypto he goes for.
Overall, Kiyosaki stated earlier that he is prepared to buy BTC no matter how low its price goes. The lower, the better, according to one of his tweets, in which he said he was waiting for Bitcoin to test the $1,100 level.
Currently, the leading digital currency by market cap is trading at $23,180, according to data shared by CoinMarketCap analytics website.