Buy More Bitcoin and Support ‘Crash Landing’, Robert Kiyosaki Warns
Bitcoin, the digital currency that has disrupted traditional finance, has been endorsed by none other than Robert Kiyosaki, the famous author of personal finance books.
In a cautionary tale about government bailouts, Kiyosaki has urged people to consider increasing their holdings of Bitcoin (BTC) as a potential hedge against financial uncertainty.
Kiyosaki, known for his book “Rich Dad, Poor Dad,” has advised his followers to invest in cryptocurrencies amid concerns over the future of fiat currency.
The Imminent ‘Crash 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 failure of three major US banks – Signature Bank, Silicon Valley Bank and Silvergate Bank – he has reiterated his previous warnings of an impending “crash landing” and urged everyone to buy more Bitcoin, gold and silver as an alternative.
BAIL OUTS begin. More fake money to invade sick economy. Still recommending the same answer. Buy more G, S, BC. Have a good time. Front crash landing.
— Robert Kiyosaki (@theRealKiyosaki) March 13, 2023
More ‘fake money’ to invade ‘Sick economy?’
To be more specific, Kiyosaki predicted in a Twitter posts that “more fake money” would “invade the sick economy” as bailouts were launched in response to the massive crisis in the financial services industry.
The author has been a vocal supporter of cryptocurrencies such as 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 several interviews and tweets, and he has advised his followers to invest in them as a way to hedge against inflation and diversify their portfolios. He has also warned his followers about the dangers of relying too heavily on fiat currencies and the need to diversify their investments.
Kiyosaki predicts that the next bank will collapse
It’s worth noting that Kiyosaki predicted the collapse of Lehman Brothers in 2008. Monday on “Cavuto: Coast to Coast,” the analyst revealed which bank he thinks will be the next to fall amid the latest wave of bank failures.
“The problem is the bond market and my prediction is I called Lehman Brothers years ago and I think the next bank to go 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 U.S. as he expects the U.S. dollar to fall, 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 American public will be the worst affected by bank bailouts.
In a joint statement, the US Department of the Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation announced SVB’s closure.
The regulators said so SVB customers will have access to their funds starting Monday at no cost to the American taxpayer.
At the time of writing, Bitcoin was trading at $24,813, up 12% in the past 24 hours, data from crypto market tracker Coingecko shows.
– Selected image from the Department for Transport/BBC
