Robert Kiyosaki, the best-selling author of 'Rich Dad Poor Dad', reiterated his prediction of an economic recession akin to the Great Depression. Kiyosaki believes that in the face of this imminent financial crisis, the only viable investment options to preserve and grow wealth are Bitcoin, gold, silver, and oil. He denies the notion that bonds are a safe investment, claiming that this idea is a misconception promoted by financial advisors.
Robert Kiyosaki's warning of a stark market crash
Kiyosaki emphasized on social media that there is no completely safe investment amid the market crash, especially with the sharp decline in the commercial real estate sector, and Moody's recent downgrade of the long-term credit rating of the United States. He pointed out that while Asian investors are increasing their purchases of gold, the demand for bonds is declining.
Kiyosaki has long bet on gold, silver, oil, livestock, and especially Bitcoin, believing that these assets will contribute to growing his wealth during the upcoming crisis. He believes that bond and stock investors will suffer heavy losses, and he asserts that only Bitcoin holders will be able to weather the economic crisis unscathed. He has previously expressed this opinion, warning repeatedly about central bank policies and global debt levels.
Bitcoin's entry into retirement funds
Kiyosaki recently welcomed the executive order signed by former U.S. President Donald Trump, which allows the inclusion of private equity, real estate, and Bitcoin in 401(k) retirement accounts. Kiyosaki sees this move as a valuable opportunity for investors.
Nevertheless, Eric Balchunas, a Bloomberg ETF analyst, argued that it is unlikely that most fund managers will turn to Bitcoin. According to Balchunas, stocks and bonds remain the mainstay of 401(k) accounts. He also emphasized the necessity for managers to possess sufficient knowledge and experience in investing in Bitcoin.
During this period, the value of Bitcoin rose by about 3% to reach nearly $117,000, according to CryptoAppsy data. However, its price quickly dipped slightly, trading at around $116,600.