'Rich Dad Poor Dad' Author Says Bitcoin Will Take Off, Gold Will Crash

Vocal Bitcoin supporter and entrepreneur Robert Kiyosaki, well known for his classic book on managing personal finance “Rich Dad Poor Dad,” took to X/Twitter to share another “piece of financial wisdom” with his followers.

This time, he made a bullish prediction on Bitcoin and another asset he believes to be important for the future, silver, also criticizing the fast growth of the U.S. national debt.

Word on U.S. bonds, Bitcoin and gold: Bitcoin to $500,000

In his tweet, Robert Kiyosaki cited Andy Schectman, president of Miles Franklin Ltd. Precious Metals. In a January interview, Schectman expressed his doubts as to whether anyone would agree to lend money to the U.S. since the government intends to print $1 trillion worth of Treasuries per quarter, and it seeks money just to pay interest to the current holders of Treasuries.

Kiyosaki stated that U.S. banks are currently buying gold and not Treasuries. Kiyosaki assumes that should things continue to develop the way they are now, the U.S. may be pressed into a tight corner. Still, despite his words about banks preferring gold to U.S. Treasuries, the financial guru expects gold to “crash below $1,200.” He did not name any particular timing for that.

But the good news, per Kiyosaki, is that he expects Bitcoin and silver to take off. His earlier predictions for the Bitcoin price include $135,000, and then up to $500,000.

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In his earlier tweets, Kiyosaki has constantly predicted a crash to hit the U.S. bond and stock market. In a recent tweet, he advised Twitter readers to prepare for a 70% crash for the S&P 500 index.

He believes that gold, silver and Bitcoin are the “three whales” that can protect one’s wealth from devaluation that comes through fiat money. Besides, he believes that gold and silver are going to be widely used in certain industries in the near future, therefore he expects their price to skyrocket, as well as that of Bitcoin.

In the middle of last month, after the Securities and Exchange Commission of the U.S. finally approved the launch of spot-based Bitcoin ETFs, Robert Kiyosaki tweeted that he had purchased more Bitcoin – namely, 5 BTC.