In a recent statement, the author of 'Rich Dad Poor Dad' expresses belief that Bitcoin will be the sole financial asset to endure during the impending economic depression.
In a bold prediction, renowned investor and financial author Robert Kiyosaki has warned of an impending new Great Depression, surpassing the severity of the 1930s. Citing rising U.S. debt, record-high credit card debt, increasing unemployment, crashing commercial real estate, and downgrades of U.S. bonds by Moody's agency as warning signs, Kiyosaki believes that traditional assets like stocks, bonds, and retirement accounts (e.g., 401(k)s) are unsafe and likely to suffer heavy losses during this downturn.
However, Kiyosaki is not without hope. He strongly endorses Bitcoin, alongside gold and silver, as key stores of value that will endure and likely appreciate during the crisis. In fact, he goes so far as to call Bitcoin a "game-changer" for investors facing the collapse of traditional financial markets. He also includes oil and cattle among assets he holds to hedge against the economic turmoil.
Kiyosaki's faith in Bitcoin is not misplaced. Over the past 24 hours, the cryptocurrency surged by almost 3% and reached the $117,000 level. This surge could be a testament to Kiyosaki's influence, as he has been accumulating Bitcoin, silver, gold, oil, and cattle for years.
Interestingly, Kiyosaki has praised recent U.S. policy changes such as allowing Bitcoin in 401(k) retirement plans. He sees this as a positive step for investor protection and diversification, but warns against trusting financial planners who claim bonds or traditional investments are safe. He argues that there is nothing safe in a market crash.
Not everyone shares Kiyosaki's enthusiasm for Bitcoin in 401(k) accounts. Eric Balchunas, an ETF expert at Bloomberg, believes that the majority of fund managers will not opt for Bitcoin due to a lack of understanding of the asset.
Asian investors, on the other hand, are reportedly buying gold instead of bonds, following Kiyosaki's lead.
Kiyosaki's perspective remains contentious, especially given some strong recent economic data challenging recession narratives. However, Kiyosaki maintains his warnings are based on deeper structural concerns rather than short-term indicators.
In summary, Kiyosaki forecasts a severe economic depression driven by structural debt and market weaknesses, market crashes in bonds, stocks, and real estate, and rising demand in gold, silver, and Bitcoin. He believes that Bitcoin is the primary survival asset amid economic collapse and that only Bitcoin holders can make it through the market crash.
- Robert Kiyosaki, a financial author and renowned investor, believes that Bitcoin will endure and likely appreciate during the impending new Great Depression, which he predicts will be more severe than the 1930s.
- Kiyosaki praises recent changes in U.S. policy that allow Bitcoin to be included in 401(k) retirement plans, viewing them as a positive step for investor protection and diversification, despite some skepticism from experts like Eric Balchunas.
- Asian investors, following Kiyosaki's lead, are reportedly buying gold instead of bonds, indicating a growing interest in alternative investments like Bitcoin and precious metals as a hedge against economic turmoil.
