Prominent Bitcoin supporter and entrepreneur, author of the "Rich Dad, Poor Dad" book on financial literacy Robert Kiyosaki has taken to his Twitter handle to share his take on the recent crash of two major banks that have been friendly to the crypto space — Silvergate Bank and Silicon Valley Bank.
Two major banks down, third "set to go," here's when Bitcoin comes in
Both have faced big withdrawals from customers followed by a massive decline in the stock price. Finally, the company that runs Silvergate Capital announced that it is winding down the bank's operations. SVB Financial is reportedly negotiating a sale of the Silicon Valley Bank to financial institutions for similar reasons.
Kiyosaki reacted to this news with a tweet, in which he predicted what consequences the crash of these two major banks may have. He believes another large bank is "set to go" the way of the dodo. He did not refer to any particular bank, though.
Still, earlier U.Today reported that Signature bank had also faced a big stock price plunge after the Silvergate FUD began to spread.
When the fall of the third bank happens, Kiyosaki believes, gold and silver prices will rocket. The investor here referred to his experience, reminding the audience that he did predict the collapse of the Lehman Brothers bank on CNN, which shut down in 2008. On Monday, Kiyosaki will be talking on the news show of Neil Cavuto and on FOX TV, apparently, to discuss the same subject.
As he often does, Kiyosaki recommended buying physical silver and gold coins. Jane Adams, a pro-crypto U.S. House candidate for 2024, reminded him that Bitcoin is important now as well.
Two Major Banks have crashed. #3 set to go. BUY real gold and silver coins now. No ETFs. When Bank #3 goes gold & silver rocket up. 2008 I forecasted collapse of Lehman days before it crashed on CNN. If you want proof go to RICH DAD .com. Will be on Neil Cavuto on FOX on Monday.— Robert Kiyosaki (@theRealKiyosaki) March 10, 2023
Bitcoin to hit $500,000, per Kiyosaki
Earlier this year, the prominent investor in Bitcoin and precious metals Kiyosaki shared his take that the leading cryptocurrency is going to skyrocket by 2025 and hit the staggering $500,000 price level.
He explained his position here, saying that the U.S. Dollar is going worthless fast as billions of them keep getting printed by the U.S. government out of thin air. Over the past two years, trillions of "fake dollars" have been printed, Kiyosaki said in an interview. Over $6 trillion was printed by the Fed in 2020 alone to help the average U.S. households and large businesses go through the pandemic lockdown.
Kiyosaki also believes, according to his earlier tweets, that a global collapse is approaching fast and it may be worse than the Great Depression of the 1930s.