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Now Is Good Time to Buy Bitcoin, 'Rich Dad Poor Dad' Author Says, 'Shop Til You Drop'

Wed, 03/29/2023 - 15:25
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Yuri Molchan
Financial guru and entrepreneur Kiyosaki names major reasons for buying Bitcoin right now
Now Is Good Time to Buy Bitcoin, 'Rich Dad Poor Dad' Author Says, 'Shop Til You Drop'
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Robert Kiyosaki, former real estate investor and now writer and entrepreneur in the sphere of financial education, also famous for his book "Rich Dad Poor Dad," has published a tweet sharing why it is worth buying Bitcoin now, as well as other major assets.

"Shop till you drop": Bitcoin, gold, silver

Kiyosaki wrote his tweet about "retail prices dropping." He stated that "rich brands are on sale," recommending that the community start buying before the U.S. government gets systemic inflation back under control. Kiyosaki highlighted his take, stressing that the current inflation is systemic and not transitory, as government officials and Fed reps announced, when it only started back in 2020 with the spread of the pandemic.

Thus, Kiyosaki now advises that his followers begin buying "rich brands," naming Prada and Polo shares, next to gold, silver and Bitcoin, before these get more expensive. Gold, silver and BTC is the "usual package" recommended by Kiyosaki since the start of 2020, when, many times, he took to Twitter to announce that the USD was "almost dead." His view was based on the Federal Reserve printing money to support the economy. In 2020 alone, over 6 trillion USD were printed "out of the thin air."

One of his followers told Kiyosaki that he agrees with the advice about buying Bitcoin and the above-mentioned precious metals. But he wondered why he should buy Prada and Polo stocks. The financial guru left the question unanswered.

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"Global financial crisis getting worse"

Earlier this month, Kiyosaki shared on Twitter that he believed the global financial crisis was worsening. He said that "more and more dominoes" were falling after major U.S. banks began to go bankrupt.

These include Silvergate Bank, Silicon Valley Bank and Signature Bank (all of these were "crypto-friendly" and offered banking services to crypto exchanges and blockchain companies, such as Ripple Labs). Several other banks followed suit.

Curiously, after Silicon Valley Bank went down, Kiyosaki tweeted that "the third major bank" was ready to fall. He did not share any names, but a few days after his prediction, Signature Bank was proclaimed insolvent. As SVB shut down, the share price of Signature Bank began to tumble.

Betting on BTC to hit $500,000

Earlier this year, Kiyosaki shared his expectations about how high Bitcoin, gold and silver may go should the Fed keep the money printer running. Kiyosaki believes that, in merely two years, Bitcoin may be well worth half a billion USD, gold may surge to $5,000 per ounce and silver will hit $500 per ounce.

He tweeted that such a massive price rise of safe haven assets is likely because the U.S. dollar will be destroyed by "fake money" – trillions of USD that the Fed keeps printing. Now, the U.S. government is bailing out failing U.S. banks, circulating more newly printed USD throughout the U.S. economy.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at