“Rich Dad Poor Dad” author Robert Kiyosaki foresees a shake-up in the U.S. economy that will trigger massive price spikes for Bitcoin (BTC) and silver, while gold will crash below $1,200. Kiyosaki also calls for more BTC adoption.
Kiyosaki on the social media platform X raised questions about the US economy and the sustainability of US bonds. He foresees a gold crash with the potential of breaking below $1,200 as silver and Bitcoin are expected to record significant gains. This attitude is consistent with Kiyosaki’s earlier warnings about the “biggest crash in history” which he spoke of in his book ‘Rich Dad’s Prophecy’.
Addressing the delayed recognition of hard assets by financial planners, Kiyosaki highlighted the influence of money and commissions.
He pointed out that gold has outperformed the S&P 500 for decades, projecting a 70% crash in the S&P. Despite the current gold price at $2,013.43 per ounce and silver at $23.41, Kiyosaki remains steadfast in his preference for tangible assets over traditional financial instruments.
In recent weeks, Kiyosaki has intensified his support for Bitcoin as a stronghold against systemic wealth erosion orchestrated by institutions like the Federal Reserve, Treasury, and Wall Street. He commends Bitcoin’s decentralized and inflation-resistant characteristics, contrasting them with the detrimental practices of traditional financial players.
Kiyosaki sees Bitcoin as a countermeasure
Kiyosaki has been a strong Bitcoin proponent over the years and has often made his bullish stance on the orange coin quite clear.
Last January, Kiyosaki openly criticized Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers for contributing to wealth diminishment through inflation, taxation, and stock price manipulation. He contends that Bitcoin emerges as a formidable countermeasure against these practices.
Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024
The cryptocurrency market has experienced an increase recently, surpassing the $2 trillion mark in terms of the total market cap.
As of the time of writing, the price of Bitcoin (BTC) is hovering around $51,606 which represents a 6.7% increase in the last 7 days, with over $1 billion in market capitalization. Bitcoin is facing resistance at $52,000, after being on a positive course for four consecutive weeks.
MicroStrategy, Bitcoin bulls
Business intelligence company MicroStrategy likely shares Kiyosaki’s sentiment. The firm currently holds 190,000 BTC at an average price of $31,224 per BTC, amounting to $5.93 billion.
The recent increase in the price of Bitcoin by 20% since the beginning of 2024 has boosted MicroStrategy’s profits to over $4 billion.
This financial success has triggered debates on its entry into the S&P 500 index. The MicroStrategy stock recorded a significant 46% rally over eight days taking the company to the 535th position among the U.S. listed companies.
