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'Rich Dad Poor Dad' Author Says 'Buy Bitcoin, Crash Landing Coming'

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Fri, 19/05/2023 - 9:35
'Rich Dad Poor Dad' Author Says 'Buy Bitcoin, Crash Landing Coming'
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The financial expert, investor and nonfiction writer mostly famous for his book "Rich Dad Poor Dad," Robert Kiyosaki, has taken to Twitter to talk Bitcoin again after a break.

He again asserted that a "crash landing" for the global economy is coming and spoke in favor if Bitcoin and other hedges against the economic collapse he has been expecting to happen since 2020.

"Bitcoin is best insurance"

Robert Kiyosaki stated that Bitcoin, gold and silver remain the "best insurance" in the current economic situation in the U.S. He believes that a "crash landing" is coming, rather than a soft landing or hard landing, as some others may believe. He added that he hopes to be wrong, though.

Kiyosaki has been a vocal Bitcoin advocate since 2020. Before that, he had been just stocking up on BTC on the quiet, but he began actively tweeting about it three years ago, when the pandemic kicked off and global central banks, following the Federal Reserve, began printing trillions to support their economies.

In the U.S. alone in 2020, more than $6 trillion were printed by the Fed.

Kiyosaki says Fed is killing regional U.S. banks

At the end of April, Robert Kiyosaki commented on the consecutive closure of several regional banks in the U.S. — Silvergate Bank, Silicon Valley Bank, Signature Bank, First Republic Bank and others.

Some of them had been working with crypto exchanges and blockchain companies. Overall, more than 10 banks were shut down with their assets sold.

Kiyosaki referred to regional banks as the "heart and soul of economy." He also added that this banking crisis is affecting jobs in other companies; according to him, Amazon planned to cut 18,000 jobs without credit flowing.

No matter how hard Kiyosaki predicts the crash of the U.S. and global economy, his choice of safe haven remains unchanged: Bitcoin, gold and silver. If gold crashes to $1,000, he stated recently, it will just drive him to buy more of it.

Related

Robert Kiyosaki expects Bitcoin to reach $100,000

Due to the aforementioned banking crisis in the U.S. and the government printing too much money, Kiyosaki expects Bitcoin to be moving toward the $100,000 price level.

In this prediction, he lowered his expectations a little as, prior to this, he voiced $500,000 as the goal Bitcoin is to reach by 2025.

At the time of this writing, BTC is changing hands at $26,919, going down by nearly 2% in the last 24 hours, according to CoinMarketCap.

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