Robert Kiyosaki – the famed author of the bestselling book “Rich Dad, Poor Dad” – says that a major market overhaul is coming, and that those who do not own bitcoin will likely experience harsher economic circumstances than those who do not.
Robert Kiyosaki on the State of the Economy
In a recent interview, Kiyosaki – known for his prowess as a financial guru over the past 20 years – stated that the Federal Reserve is ruining the American economy by overprinting the U.S. dollar. He is now telling investors to do all they can to buy gold, silver, and of course, bitcoin, which he has long been a huge fan of.
Warning of an incoming market crash, Kiyosaki stated:
The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and bitcoin while you can… Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin drop to $24K. Crashes best time to get rich.
Over the past two months, bitcoin – the world’s number one digital currency by market cap – has experienced several shocking drops that have seen it lose roughly half its value since attaining a new all-time high of roughly $64,000 per unit in mid-April.
Many financial analysts have expressed fear and concern over the recent drops, though Kiyosaki thinks they present a great opportunity for investors – both professional and new – to get their fingers on a growing asset that obviously held its ground during 2020, arguably one of the harshest economic periods in American history.
Bitcoin crashing. Great news. When price hits $27,000, I may start buying again. A lot will depend upon global-macro environment. Remember the problem is not gold, silver, or bitcoin. Problems are the incompetents in government, Fed, and Wall Street. Remember gold was $300 in 2000.
Inflation Is Too Heavy
He also warned that the Fed is likely to raise interest rates in the coming months and years to make up for all the money it lost in 2020. This, he says, will have an extremely negative effect on the American way of life, and he feels that precious metals and cryptocurrencies will allow individuals to remain financially stable. He tweeted:
Fed wants inflation to pay debt with cheaper $. Fed will raise interest rates causing stocks, bonds, real estate, and gold to crash. Biggest problem is Boomer retirement. Social Security, Medicare and America broke. Fed to print more fake money. Stick with gold, silver, and bitcoin… Are you ready? Boom, bust, mania, crash, depression. Mania in markets today. Prepare for biggest crash, depression in world history.