Global Banking System Faces Potential Collapse, Spotlight on Gold and Bitcoin: Robert Kiyosaki
Robert Kiyosaki, author of the personal finance bestseller Rich Dad Poor Dad, warns of a possible global financial collapse.
Kiyosaki says his 2.4 million Twitter followers that a massive increase in the yield on a one-month Treasury bill (T-Bill) indicates that recessionary times are likely ahead.
He says Bitcoin (BTC) and precious metals are the best life rafts for such a collapse.
“OH MY GOD. The ‘best security’ in the world, one month T-bills went up 100 basis points. Do this [mean] is the world banking system collapsing? So much for all those experts who recommended a month’s worth of T-bills. Stick to gold, silver, Bitcoin and home defense now…not tomorrow.”
Last month, the Bitcoin bull predicted that BTC would soon rise to $100,000, saying that people are likely to find the royal crypt a more attractive investment after the series of interest rate hikes by the Federal Reserve meant to curb inflation.
He also said that the US banking problems would likely lead more people to see Bitcoin as fundamentally healthier than banks.
The best-selling author has previously predicted that Bitcoin will eventually trade for $500,000 by 2025.
According to Kiyosaki, Bitcoin is likely to go on a massive bull run as the Federal Reserve loosens monetary policy and injects market liquidity.
“Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 Gold at $5,000 Silver at $500 and Bitcoin at $500,000 Why? Because faith in the American dollar, fake money, will be destroyed. Gold and Silver God’s money. Bitcoin [is the] people’s money. Have a good time.”
Bitcoin is worth $27,888 at the time of writing, down 3.5% in the last 24 hours.
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Featured image: Shutterstock/Golden Wind
