Buy More Bitcoin And Brace For ‘Crash Landing’, Robert Kiyosaki Warns
Bitcoin, the digital currency that revolutionized traditional finance, was endorsed by none other than Robert Kiyosaki, the celebrated author of personal finance books.
In a cautionary tale about government bailouts, Kiyosaki urged people to consider increasing their Bitcoin (BTC) holdings as a potential hedge against economic uncertainty.
Kiyosaki, known for his book “Rich Dad, Poor Dad,” advised his followers to invest in cryptocurrencies in the face of concerns about the future of fiat currency.
The impending ‘Craft Landing’
The author has long been an outspoken opponent of fiat currencies like the US dollar, which he has previously called “fake money” that will hasten the “end of the American Empire”.
Robert Kiyosaki. Image: Medium
Given the recent bankruptcy of three major US banks – Signature Bank, Silicon Valley Bank and Silvergate Bank – he reaffirmed his earlier warnings of an imminent “hard landing” and urged everyone to buy more Bitcoin, gold and silver as an alternative.
BAIL OUTS begin. More counterfeit money to invade the sick economy. I still recommend the same answer. Buy more G, S, BC. Be careful. Forced landing ahead.
— Robert Kiyosaki (@theRealKiyosaki) March 13, 2023
More ‘fake money’ to invade ‘sick economy?’
To be more specific, Kiyosaki predicted in a twitter post that “more counterfeit money” would “invade the ailing economy” when the bailouts were launched in response to the massive crisis in the financial sector.
The author has been a vocal supporter of cryptocurrencies like Bitcoin, Ethereum and Litecoin. Kiyosaki believes that cryptocurrencies have the potential to challenge traditional banking systems and provide a decentralized alternative to fiat currency.
Kiyosaki has spoken positively about Bitcoin and other cryptocurrencies in various interviews and tweets, and has advised his followers to invest in them as a way to hedge against inflation and diversify their portfolios. He also warned his followers about the dangers of relying too heavily on fiat currencies and the need to diversify their investments.
Kiyosaki predicts the next bank will collapse
It is worth noting that Kiyosaki predicted the collapse of Lehman Brothers in 2008. Monday in “Cavuto: Costa a Costa”, the analyst revealed which bank he believes will be the next to fail amid the recent spate of bank failures.
“The problem is the bond market and, according to my prediction, I called Lehman Brothers years ago and I think the next bank to go down is Credit Suisse,” he warned.
Kiyosaki went on to describe how the bond market, the economy’s “biggest problem”, will cause major problems for the United States as it anticipates the fall of the US dollar, claiming that the dollar is “losing its homogeneity in the world”.
BTCUSD slowly approaches the $25K mark, now trading at $24,707 on the daily chart | Chart: TradingView.com
In addition, he raised concerns about pension plans and individual retirement accounts (IRAs) in the current market situation, noting that the US public will be hardest hit by bank bailouts.
In a joint statement, the US Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation announced the closure of SVB.
The regulators stated that SVB clients will have access to their funds starting Monday at no cost to the US taxpayer.
At the time of writing, Bitcoin is trading at $24,813, up 12% over the last 24 hours, shows data from crypto market tracker Coingecko.
-Featured image from the Department for Transport/BBC