Rich Dad Poor Dad author Robert Kiyosaki predicts a shake-up in the US economy that will lead to massive spikes in the prices of Bitcoin (BTC) and silver, while gold will fall below $1,200. Kiyosaki also calls for more Bitcoin adoption.
On the social media platform X, Kiyosaki raised questions about the US economy and the sustainability of US bonds. Gold is expected to collapse, with the possibility of breaking below $1,200, as silver and Bitcoin are expected to record significant gains. This position is consistent with Kiyosaki's previous warnings about the “biggest collapse in history” that he talked about in his book “The Rich Dad Prophecy.”
Addressing the lagging recognition of hard assets by financial planners, Kiyosaki highlighted the impact of money and commissions.
He noted that gold has outperformed the Standard & Poor's 500 Index for decades, predicting a 70% collapse of the Standard & Poor's Index. Despite the current price of gold at $2,013.43 per ounce and silver at $23.41, Kiyosaki remains steadfast in his preference for tangible assets over traditional financial instruments.
In recent weeks, Kiyosaki has intensified his support for Bitcoin as a bastion against systemic wealth erosion regulated by institutions like the Federal Reserve, Treasury, and Wall Street. He praises Bitcoin's decentralized and inflation-resistant properties, contrasting them with the harmful practices of traditional financial players.
Kiyosaki sees Bitcoin as a countermeasure
Kiyosaki has been a vocal supporter of Bitcoin over the years, and has often made his bullish stance on the orange coin quite clear.
Last January, Kiyosaki publicly criticized Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers for contributing to wealth reduction through inflation, taxes, and manipulation of stock prices. He asserts that Bitcoin is emerging as a formidable countermeasure against these practices.
The cryptocurrency market has seen an increase recently, crossing the $2 trillion mark in terms of total market capitalization.
As of the time of writing, the price of Bitcoin (BTC) is hovering around $51,606, representing a 6.7% increase in the past seven days, with over $1 billion in market cap.
Bitcoin is facing resistance at $52,000, after being on a positive trajectory for four straight weeks.
MicroStrategy, Bitcoin bulls
Business intelligence firm MicroStrategy likely shares Kiyosaki's sentiments. The company currently holds 190,000 bitcoins at an average price of $31,224 per bitcoin, amounting to $5.93 billion.
The recent 20% increase in Bitcoin's price since the start of 2024 has increased MicroStrategy's profits to over $4 billion.
This financial success sparked controversy over its entry into the S&P 500. MicroStrategy stock registered a massive 46% rise over eight days, lifting the company to 535th place among US listed companies.
