'Rich Dad Poor Dad' Author Says World Banking System Collapsing, Doubles Down on His Bitcoin Bet

Financial guru, investor and nonfiction writer famous for his book on financial literacy "Rich Dad Poor Dad," Robert Kiyosaki has been a rigorous supporter of Bitcoin over the past few years.

He believes Bitcoin, gold and silver are equally powerful risk hedges. In a recent tweet, Kiyosaki doubled down on his BTC bet and recommends his followers to stick with it.

"Stick with Bitcoin, gold, silver"

Kiyosaki tweeted that what is believed to be "the best collateral in the world," Treasury Bills (T-Bills) have gone up by 100 basis points. The guru pondered if that meant that the global banking system is about to face a major collapse.

Treasury bills do not work anymore, he stated, suggesting that the best idea now is to "stick with gold, silver, Bitcoin and home defense."

OMG. “The best collateral “ in the world, the 1 month T-Bill went up by 100 basis points. Does this mesn the world banking system is collapsing?
So much for all those experts who recommended 1 month T-Bills. Stick with Gold, Silver, Bitcoin, and home defense now….not tomorrow.

— Robert Kiyosaki (@theRealKiyosaki) May 7, 2023

As reported by U.Today earlier, Kiyosaki cited a prediction by fund manager Steve Van Meter that gold is likely to crash to $1,000. In that case, the writer said, he would just buy more of it. Previously, he said the same about a potential Bitcoin fall; he would buy the dip.

Related

Sun, 05/07/2023 - 12:35

Bitcoin: Here's What Might Push BTC Price Higher, Analyst Says

Tomiwabold Olajide

Kiyosaki expects Bitcoin to hit $100,000

Earlier this year, Robert Kiyosaki made several optimistic forecasts on Bitcoin. In February, he predicted Bitcoin would reach a whopping $500,000 by the year 2025. His reason for that was that the Fed Reserve and the U.S. Treasury had been printing great amounts of USD out of thin air.

These QE programs started in 2020 when the pandemic began spreading around the world and economies started going down because of quarantines.

Later, he stated that Bitcoin is heading for $100,000 for the same reason, plus the collapse of U.S. regional banks that began in March: Silvergate Bank, Silicon Valley Bank, Signature Bank and several others. The most recent bank to follow suit is First Republic Bank. It has been reported that the banks' assets will be purchased by JP Morgan banking giant.