R. Kiyosaki Warns ‘Giant Crash Coming’, Says Bitcoin Will Reach $500,000 By 2025 Due To Distrust Of USD
Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad’ has made some gloomy predictions about the economic outlook, praising gold, silver and Bitcoin (BTC) as alternatives to the US dollar.
Indeed, with the grim warnings of a “giant crash coming” and “depression possible,” Kiyosaki explained that the Federal Reserve was “forced to print billions in fake money,” and that’s how he referred to the US dollar in his chirping on February 13.
On the other hand, he predicted that by 2025 gold would reach the price of $5,000 per ounce, “silver at $500 and Bitcoin at $500,000”, because “believe in [the] American dollars, fake money, will be destroyed.” Finally, he referred to gold and silver as “God’s money” and Bitcoin as “the people’s dollar”.
Kiyosaki warns of a recession ahead
In particular, the best-selling author and entrepreneur, who is a well-known critic of the fiat currency system in the US and the world, had previously warned that the world was already in a recession, and expressed expectations of a rough landing.
He had also previously reiterated that investors should avoid paper money and instead focus on accumulating precious metals such as gold, which he expected to rise in the coming months due to accumulation by central banks, and predicted that the stock market was likely to crash further.
As for the flagship decentralized finance (DeFi), Kiyosaki called it one of the three “hottest topics on earth” along with silver and gold, and referred to Bitcoin as “the people’s money”, attributing its bullish rally in January to the growing the demand for alternative investment products.
Bitcoin price analysis
Meanwhile, the first cryptocurrency, which Kiyosaki wants to trade for $500,000 by 2025, traded at $21,756 at press time, down 0.8% on the day, as well as a 5.19% decline last week, but still registering a 9.1% increase on the monthly chart, according to data retrieved on February 13.
It is also worth noting that one of Bitcoin’s most important technical indicators, the Rainbow relative strength index (RSI), had turned green for the first time on February 12 after an extended correction, suggesting long-term bullish momentum, as Finbold reported.
Featured image via Ben Shapiro’s YouTube.
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