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‘Rich Dad, Poor Dad’ Issues Crucial Warning - ‘Everything Is In Turmoil’

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Tue, 17/10/2023 - 8:10
‘Rich Dad, Poor Dad’ Issues Crucial Warning - ‘Everything Is In Turmoil’
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Prominent Bitcoin supporter, financial guru famous largely as the author of a classic book on financial self-literacy "Rich Dad Poor Dad," Robert Kiyosaki, has taken to the X social media platform (formerly known as Twitter) to warn his followers and share guidance with them on how to overcome the current difficult state of things in the market and in the world as well.

Kiyosaki cited Dr. Bucky Fuller (Richard Buckminster Fuller, an American philosopher, writer and systems theorist), saying, "People do not get out of way of things they cannot see coming towards them."

Kiyosaki then added that our world at the moment is "extremely unstable" and "everything is in turmoil." The way of surviving now, financial guru and writer Kiyosaki believes, is staying alert and attentive and being "extra kind" to others. He wrote: "Pay attention by seeing with your ears, listen with your heart, trust your intuition, & be extra kind to others."

"Bitcoin, silver, gold and – Apple shares" – Kiyosaki

In his previous tweets, Kiyosaki often named safe haven assets – Bitcoin, gold and silver – as those that are worth accumulating now to transfer one's funds into. He has many times stated that at least by 2025, Bitcoin, silver and gold will surge in price. Silver, he claimed, is going to be used in industry production in areas that will be important in the near future, and so its price will jump. He recommended that everyone buy silver dollars, which more or less everyone can afford.

Recently, Kiyosaki also named Apple giant shares as an asset that he believes to be profitable in the future since company CEO Tim Cook is now dumping his Apple shares and banks are downgrading them. "Maybe it is time to buy Apple," Kiyosaki considered in his recent tweet.

His expectations for Bitcoin's price

Since Kiyosaki believes that fiat money, the U.S. dollar in particular, is about to die, he expects Bitcoin to surge in price within the coming few years. Back in 2020, when the pandemic struck the major economies of the world, and the U.S. along with other governments began printing money (trillions of USD in 2020 alone were issued) to support their banks, businesses and average households, Kiyosaki began stating that the dollar had become fake and urged everyone to buy Bitcoin, silver and gold.

Citing the same factor, he expects Bitcoin to soar to a whopping $500,000 per coin by 2025. Later on, however, he reduced his forecast to $150,000 within the next few years. Kiyosaki has never said anything about Bitcoin spot ETFs that the market is now expecting the SEC to approve soon; he prefers to own assets, BTC and gold directly.

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Bitcoin surges on fake news of Bitcoin ETF approval

On Oct. 16, the word was spread by certain crypto and mainstream media (Reuters, Bloomberg Terminal) that the American regulator the SEC had given the green light to iShares – the Bitcoin spot ETF created by BlackRock, the largest fund manager in the world.

On this news, the leading digital currency's price jumped by 10%, rising to the $29,400 level briefly. Major altcoins followed suit. However, then, BlackRock stepped in, rejecting the news as fake and stating that its filing is still under consideration by the SEC. This made Bitcoin go back down by about 8%. At the time of this writing, BTC is changing hands at $28,452. Still, this has clearly demonstrated what will happen to BTC and the whole crypto market if Bitcoin ETFs start to get approved by the regulator.

Another major company that is expecting a decision on a Bitcoin spot ETF now is Grayscale, a subsidiary of Barry Silbert's Digital Currency Group. In August, Grayscale beat the SEC in court, and the judge ruled that the SEC now has to give its filing proper consideration.

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