‘Rich Dad’ R. Kiyosaki Says Bitcoin Holders ‘Will Get Richer’ When Fed Prints Trillions
Robert Kiyosaki, author of the personal finance book “Rich Dad Poor Dad,” has suggested that investors still have a chance to become richer in the future even with the possibility that the Federal Reserve plans to print more money.
According to Kiyosaki, holders of Bitcoin (BTC) will likely become richer when the Fed changes monetary policy to avoid the effects of further money printing. so in a tweet on December 9.
The author added that besides Bitcoin, precious metals like gold and silver are likely to provide more value, as opposed to saving money. Interestingly, Kiyosaki warned that pensions could bubble, stating that the situation is the “next global Lehman”. In particular, the bankruptcy of Lehman Brothers in 2008 was the climax of the subprime mortgage crisis that partially contributed to the recession.
“RETIRE the next global LEHMANN. What are you going to do? Do you want to be richer or poorer? People who own gold, silver and Bitcoin will get richer when the Fed, Treasury, Wall Street pivot and print trillions of fake dollars. Fake money savers will be the biggest losers. Don’t be a loser, he said.
Kiyosaki’s warning of economic collapse
Indeed, Kiyosaki has continued to warn of a catastrophic market collapse while blaming the Federal Reserve for the institution’s handling of inflation. Back in April, he noted that if inflation is not contained, it could wipe out about 50% of the US population.
Meanwhile, the author argued that cryptocurrencies and precious metals could offer a safe haven. Despite the crypto market’s maneuvering and the extended selloff exacerbated by the collapse of the FTX crypto exchange, Kiyosaki maintained that he remains bullish on Bitcoin. According to Kiyosaki:
“I remain bullish on Bitcoin, but do not consider silver and silver ETFs to be the same. And Bitcoin is not the same as Sam Bankman-Fried. (…) It is FTX that is the problem.”
In fact, Kiyosaki believes that despite the crisis in the crypto sector, the FTX development does not affect the future of digital currencies.
Factors that can lower the economy
As reported by Finbold, Kiyosaki pointed out that the global economy could decline based on supply chain disruptions, rising inflation and political instability, highlighting the US-China trade wars as a potential threat.
As Kiyosaki remains bullish on Bitcoin, the asset is attempting a solid rally above $17,000 after days of consolidation. At press time, Bitcoin was trading at $17,180, a gain of around 1.5% in the past 24 hours.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
