“Rich Dad Poor Dad” author Robert Kiyosaki predicts an upheaval in the US economy that will trigger massive price spikes for Bitcoin (BTC) and silver, while gold will plunge below $1,200. Kiyosaki also calls for greater BTC adoption.
Kiyosaki asked questions about the US economy and the sustainability of US bonds on the social media platform X. He predicts a gold crash with the possibility of falling below $1,200 as silver and Bitcoin are expected to post significant gains. This stance is consistent with Kiyosaki's previous warnings of the “greatest crash in history,” which he spoke of in his book “Rich Dad's Prophecy.”
Kiyosaki addressed the delayed recognition of hard assets by financial planners and emphasized the influence of money and commissions.
He pointed out that gold has outperformed the S&P 500 for decades and predicted a 70% plunge in the S&P. Although the current price of gold is $2,013.43 per ounce and silver is $23.41, Kiyosaki remains true to his preference for tangible assets over traditional financial instruments.
In recent weeks, Kiyosaki has increased his support for Bitcoin as a bulwark against the systemic asset collapse orchestrated by institutions such as the Federal Reserve, the Treasury Department and Wall Street. He praises Bitcoin's decentralized and inflation-resistant properties and contrasts them with the harmful practices of traditional financial players.
Andy Schectman asks a very important question. “Who will buy US bonds?” Banks buy gold, not US debt. How will America manage without money? How will the world work with money? What are you going to do without money? Gold may crash below $1200. Silver will…
— Robert Kiyosaki (@theRealKiyosaki) February 14, 2024
Kiyosaki sees Bitcoin as a countermeasure
Kiyosaki has been a strong Bitcoin advocate over the years and has often clearly expressed his bullish stance on the orange coin.
Last January, Kiyosaki openly criticized Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen and Wall Street bankers for helping to erase wealth through inflation, taxation and stock price manipulation. He claims that Bitcoin is proving to be an excellent countermeasure against these practices.
Why I own Bitcoin. Bitcoin is a protection against the theft of our wealth through our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers are stealing our wealth with our money, particularly through inflation, taxation, and stock price manipulation. That's why I'm saving…
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024
The cryptocurrency market has been on a tear recently, with the total market capitalization crossing the $2 trillion mark.
At the time of writing, the price of Bitcoin (BTC) is around $51,606, up 6.7% in the last 7 days, with a market cap of over $1 billion.
Bitcoin is facing resistance at $52,000 after being on a positive trajectory for four straight weeks.
MicroStrategy, Bitcoin bulls
Business intelligence company MicroStrategy likely shares Kiyosaki's opinion. The company currently holds 190,000 BTC at an average price of $31,224 per BTC, worth $5.93 billion.
The recent 20% increase in Bitcoin price since the start of 2024 has pushed MicroStrategy's profits to over $4 billion.
This financial success has sparked debate about its inclusion in the S&P 500 index. MicroStrategy shares saw a significant increase of 46% in eight days, ranking it 535th among US-listed companies.
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