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Robert Kiyosaki, the renowned author of “Rich Dad, Poor Dad,” has issued a stern x.com/theRealKiyosaki/status/1845180860951298112″ target=”_blank” rel=”nofollow”>warning about an impending financial crisis that he believes will lead to a major market crash, including a possible fall of bitcoin to $5,000 per coin. In a post today on x, Kiyosaki explained his views on the current economic climate, drawing parallels to the 2008 global financial crisis (GFC).
Why bitcoin could fall to $5,000
Kiyosaki reviewed the events of 2008, referring to the GFC as a pivotal moment when, in his view, “criminals at the Federal Reserve and Treasury began printing trillions of counterfeit dollars in an attempt to stop a 'freaking' global depression.” He maintained that these measures were taken to save “his ultra-rich friends,” while the general public had to suffer the consequences.
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According to Kiyosaki, the massive influx of newly printed money caused what he describes as “The Everything Bubble,” a phenomenon in which all markets began to rise artificially, “floating on a sea of fake money.” He believes this bubble is unsustainable and is about to become “The Everything Crash.” He warns that “everything will crash, including gold, silver, and bitcoin,” suggesting the market is approaching a tipping point similar to a “breakout top.”
Kiyosaki emphasizes that this impending crisis could be harmful for most people and potentially lead to a global depression that was narrowly avoided in 2008. He urges people not to be complacent or comfortable in what he considers a “false bubble.” ” and instead prepare for the next economic crisis.
He notes 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 has reportedly been selling his Apple shares and accumulating large reserves of US dollars.
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Despite the gloomy outlook, Kiyosaki sees the predicted crisis as an opportunity for those who are prepared. Encourages people to take proactive steps, even if they currently lack financial resources. “After the collapse of everything… which follows the bubble of everything… the prepared will become really rich… I plan to be one of the prepared… I plan to become even richer… and I want you to become richer too,” Kiyosaki commented. .
Specifically regarding bitcoin, Kiyosaki predicts that the cryptocurrency could fall to $5,000 during the crisis. However, he also forecasts a dramatic rally, with bitcoin potentially skyrocketing to $100,000 or even $250,000 and beyond after the market stabilizes.
“Take bitcoin, for example… it can drop to $5000 per coin… then rise to $100,000 to $250,000 and more. Obviously, I will buy all the bitcoin I can, as well as other assets, at bargain prices,” he said.
Throughout his tenure, Kiyosaki maintains a critical stance toward the Federal Reserve and the U.S. Treasury, whom he accuses of perpetuating a flawed financial system that benefits a few at the expense of the many. And he concludes: “I want you to be one of the rich… not one of the victims of the criminal Fed and Treasury.”
At the time of publication, btc was trading at $65,657.
Featured image from YouTube/Dad Saves America, chart from TradingView.com
