Robert Kiyosaki, the renowned author of “Rich Dad, Poor Dad,” issued a strong Notice about an impending financial crisis that he believes will lead to a significant market downturn, including a potential drop in Bitcoin to $5,000 per coin. In a post today on X, Kiyosaki elaborated on his views on the current economic climate, drawing parallels with 2008. Global Financial Crisis (GFC).
Why Bitcoin Could Fall to $5,000
Kiyosaki revisited the events of 2008, referring to the GFC as a pivotal moment when, in his opinion, “criminals at the Fed and Treasury began printing billions of fake dollars in an attempt to stop a Global Depression.” He argued that these measures were taken to save “his ultra-rich friends” while the general public was left to suffer the consequences.
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According to Kiyosaki, the massive influx of newly printed money led to what he describes as “The Everything Bubble”, a phenomenon where all markets began to rise artificially, “floating on a sea of fake money”. He believes this bubble is unsustainable and is about to turn into “The Everything Crash.” He warns that “everything will crash, including gold, silver and Bitcoin,” suggesting that the market is approaching a tipping point similar to a “blow top.”
Kiyosaki emphasizes that this looming crisis could be harmful for most people, potentially leading to a global depression that was narrowly averted in 2008. He urges people not to be complacent or comfortable in what he considers a “fake bubble.” and, instead, preparing for the next economic recession.
He points out that prominent investors are already taking action by selling “overvalued” assets and converting them into cash. The best-selling author cites Warren Buffett as an example, noting that Buffett reportedly sold his Apple shares and accumulated large reserves of US dollars.
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Despite the bleak outlook, Kiyosaki sees the predicted crash as an opportunity for those who are prepared. He encourages people to take proactive steps, even if they currently lack the financial resources. “After the crash of everything… which follows the bubble of everything… the prepared will be very rich… I intend to be one of the prepared… I intend to become even richer… and I want you to become richer too”, commented Kiyosaki.
Specifically regarding Bitcoin, Kiyosaki predicts that the cryptocurrency could plummet to $5,000 during the crash. However, he also predicts a dramatic recovery, with Bitcoin potentially rising to $100,000 or even $250,000 and beyond after the market stabilizes.
“Take Bitcoin, for example… it can drop to $5,000 per coin… and then grow to $100,000 to $250,000 and more. Obviously, I will buy all the Bitcoin I can, as well as other assets, at low prices,” he stated.
Throughout his post, Kiyosaki maintains a critical stance towards the Federal Reserve and the US Treasurywhom he accuses of perpetuating a flawed financial system that benefits a select group to the detriment of the majority. He concludes: “I want you to be one of the rich…not one of the victims of the criminal Fed and Treasury.”
At press time, BTC traded at $65,657.
Featured image from YouTube / Dad Saves America, chart from TradingView.com