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Robert Kiyosaki, businessman and author of the popular best-selling financial book “Rich Dad, Poor Dad”, says that it is important to acquire assets like Bitcoin to safeguard against an upcoming global economic crash.
In a warning to his Twitter followers on Monday, Kiyosaki not only said that an economic crash would be the biggest in history but also that we would be feeling the consequences for a long time. So, to prepare for the crash as Kiyosaki predicts, he advises his 1.6 million followers to stock up on as many Bitcoin as possible.
The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and Bitcoin while you can. Take care.
— therealkiyosaki (@theRealKiyosaki) June 28, 2021
Kiyosaki has been making similar statements in favor of Bitcoin as a failsafe. In 2018, the best-selling author called crypto “the people’s money” as he advised people to invest in Bitcoin and other cryptocurrencies. Already then, he warned against the U.S. government’s shady policies such as quantitative easing, which could eventually lead to an economic collapse, according to him.
In August 2020, he repeated his advice as he warned for a looming banking crisis:
WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?
— therealkiyosaki (@theRealKiyosaki) August 21, 2020
Following Bitcoin’s price crash in May and June this year, Kiyosaki called out that now is the time to buy Bitcoin with the crash to be an opportunity to become rich.
Bitcoin crashing. Great news. When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.
— therealkiyosaki (@theRealKiyosaki) May 30, 2021
He further noted that he himself is still waiting for Bitcoin’s prince to drop to $24,000.
Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for Bitcoin to drop to $24 k. Crashes best time to get rich. Take care.
— therealkiyosaki (@theRealKiyosaki) June 19, 2021
Kiyosaki’s remarks are in line with the narrative of Bitcoin’s safe-haven status. Countries which are experiencing economic turmoil are seeing significant Bitcoin adoption among their people as a hedge against inflation fears. First-mover El Salvador has recently passed their Bitcoin Law and thereby making Bitcoin legal tender in the country.
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Author: Peter Siu