Robert Kiyosaki – the author of the bestselling book “Rich Dad, Poor Dad” – has said in a recent tweet that he is hoarding bitcoin, gold, and silver in anticipation of a major market crash that he predicts could come as early as the end of the year.
Robert Kiyosaki On Why He’s Hoarding BTC
Kiyosaki has established himself as a major financial guru over the past few years given his growing list of books which began with the “Rich Dad, Poor Dad” franchise. The first book details the work he did for his friend’s rich father and all the investing and financial advice he garnered while being taken under his wing. It also details the spending and saving habits of his real father, a renowned college professor, and the differences in monetary habits between both men.
In a recent post on social media, Kiyosaki explained:
Bitcoin is booming. Gold is stagnant. Silver is 50 percent below its all-time highs. Silver is the best, lowest-risk, high-potential investment. Bitcoin has the greatest upside. With the dollar dropping, bitcoin and silver are the best investments.
As the founder of both the Rich Dad Company and Rich Global, Kiyosaki is very critical of all the stimulus money governments around the world were quick to shell out during the 2020 coronavirus pandemic. He believes that these maneuvers will eventually come back to bite governments in the butt, and that the status of fiat currencies will fall. The U.S. dollar, for example, is already experiencing heavy inflation, and he believes USD is in for a serious value shock in the coming months.
As a result, he thinks the prices of assets are likely to plunge. He’s building up his portfolio now as a means of protecting himself against a potential dollar fall, and he thinks this will be a great time for investors to jump in and make more money. He stated:
The primary reason I invest in bitcoin, gold, and silver is because I do not trust our leaders, the Fed, the Treasury or the stock market.
He also sought to reassure his followers on Twitter of what could be by following up his initial posts with a message from his “rich dad.” The message reads:
My rich dad’s words of wisdom: ‘Always remember… Las Vegas was NOT built on winners.’ I would add, ‘Neither was Wall Street.’ Be careful. In 2021, future losers are everywhere.
Will Housing Prices Fall?
In addition, Kiyosaki took jabs at the U.S. real estate market, claiming that the “red-hot” bubble was about to burst if interest rates rose higher. He stated:
Be cautious. Real estate bubble will burst if interest rates rise. Bargains after crash. Best bargain is still silver. Still 50 percent below all-time highs. Time to be patient, not greedy… Biggest bubble in world history getting bigger.