Robert Kiyosaki, the acclaimed author of the best-selling book Rich Dad Poor Dad, has recently voiced his support for the first cryptocurrency and predicted the collapse of the American economy.
Kiyosaki has repeatedly emphasized the challenging times ahead for both the American and global economies, and thus urges individuals to invest in precious metals and Bitcoin to protect their savings from inflation.
The writer specifically cites the collapse of several major US banks, stating that this is the beginning of the crisis. The authorities are printing more and more fiat money to support the ailing economy, and Kiyosaki reiterates his advice to buy gold, silver, and Bitcoin.
He warns individuals to be cautious and expects a hard landing soon, as two large banks have already gone bankrupt and a third is on the way.
Kiyosaki advises people to purchase real gold and silver coins, rather than ETFs, as he predicts that when the third bank collapses, gold and silver prices will skyrocket.
He points out that in 2008, he accurately predicted the collapse of Lehman Brothers before it went bankrupt. Additionally, Kiyosaki believes that silver is significantly undervalued and urges investors to pay more attention to this asset.
Andy Schectman, president of the investment company Miles Franklin, supports Kiyosaki’s views, stating that cash and investing in a diversified portfolio of bonds, stocks, mutual funds, and ETFs are currently very risky.
Instead, Schectman suggests that gold, silver, and Bitcoin are the best options in these unstable times, despite the volatility in their prices. Kiyosaki has been warning investors since September of last year that global markets are poised to collapse and investing in cryptocurrencies is necessary.