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Robert Kiyosaki, renowned investor and financial author, widely known for his bestselling book “Rich Dad Poor Dad”, has made yet another market crash prediction, saying that he expects a new Great Depression to arrive.
One of the assets that can help one become richer during this upcoming economic turmoil is Bitcoin, according to him. Financial planners lie to their clients about the safety of traditional markets, he believes.
Next Great Depression coming, only Bitcoiners can survive: Kiyosaki
In his tweet, Robert Kiyosaki accused financial planners and investment advisors of lying when they assure their clients that “bonds are safe.” “There is nothing safe in a market crash,” Kiyosaki stated, adding that the commercial real estate market is also falling down, and the Moody’s agency has downgraded US bonds.
Meanwhile, he continues, Asian investors are scooping up gold and “no one is showing up to buy bonds.”
The financial guru admitted that he has been accumulating Bitcoin, silver, and gold, as well as oil and cattle, for years. He said that Bitcoin and all these assets are going to help him become richer “during the coming crash and next Great Depression.”
Stockholders and bondholders will lose their investments, he is certain of that. Only Bitcoin holders can make it through a tremendous upcoming market crash, he insists.
US allows adding Bitcoin to 401(k) retirement accounts
In a tweet published earlier, Kiyosaki also praised the US president, Trump, for signing an executive order to allow 401(k) retirement accounts to hold private equity, real estate, and Bitcoin, believing this to be a great idea for investors.
However, commenting on that development, Bloomberg’s ETF expert Eric Balchunas pointed out that he does not believe the majority of fund managers will opt for BTC here. These accounts are mostly focused on bonds and stocks, the expert said, and to invest in Bitcoin, an education and understanding of this asset are required, which the majority of these managers lack.
Over the past 24 hours, the world’s largest cryptocurrency, Bitcoin, surged by almost 3%, reclaiming the $117,000 level. However, it has rolled back slightly by now and is changing hands at $116,860 per coin.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team