Bitcoin as a bulwark against inflation? As the price of most goods continues to rise, Robert Kiyosaki, the famous bestselling author specializing in finance and development, recommends buying cryptocurrencies. According to the entrepreneur, crypto-assets could eventually serve as value refuge, like precious metals.
Robert Kiyosaki is the author of Rich Dad Poor Dad book. In this book, the American author gives several tips to individuals who wish to grow their savings, manage their money better, invest in real estate and retire before age 50. Kiyosaki is considered one of the leading figures in financial education and personal development.
He regularly analyzes the current economy and discusses the best investments to make. Lately, the entrepreneur has been very concerned about galloping inflation which broke out in the world following the Covid-19 crisis.
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Robert Kiyosaki predicts a major economic crisis
For the past few months, the price of most goods has skyrocketed. This is particularly the case for gas and gasoline. In the United States, prices rose 8.5% in March. In Europe, the average inflation rate is 7.5% over the same month, unheard of since 1985.
In this anxiety-provoking context, Robert Kiyosaki believes that the economy is about to implode. “The biggest bubble burst is yet to come. Baby boomer pensions will disappear. End $10 trillion in counterfeit currency spending. The government, Wall Street and the Federal Reserve are thieves”tackled Robert Kiyosaki on his Twitter account.
The entrepreneur directly accuses the recovery plans put in place by Joe Biden of causing inflation. During the Covid crisis, the American president released billions of dollars to keep the economy on life support. Many observers believe that the massive printing of banknotes inevitably causes a drop in purchasing power in the short term. These contingency plans have diluted the value of the US dollar in the market.
Robert Kiyosaki even compared the economic situation to the crash of 2008. “Repo Market Reversal. The last time this happened was in 2008… In 2008, I borrowed $300 million to buy some great real estate, at bargain prices. It’s time to get rich again. It’s time to be smart, not greedy”advises the best-selling author.
The author advises to buy gold and Bitcoin
To protect themselves from inflation and the coming recession, the entrepreneur advises turn to safe havens. A safe haven is an asset whose value remains stable even in the event of an economic crisis. Precious metals, like gold and metal, are considered the best safe havens in the market.
For Robert Kiyosaki, Bitcoin can also be considered as a way to protect against hyperinflation which threatens to melt the savings of the population. “Buy Gold, Silver, Bitcoin”encourages the writer.
This is not the first time that the author has formally advised to invest in the queen of cryptocurrencies. “The Ukraine/Russia war makes cryptocurrency a safer haven than fake government fiat money”, assured Robert Kiyosaki last March. Considering that the US dollar is at risk of losing value, he instead advocates the purchase of digital assets, such as Bitcoin.
Available in limited quantities, Bitcoin is considered by many investors as the new digital gold. Mirroring gold, BTC has an intrinsic value in the age of electronic exchanges on the Internet. For now, Bitcoin is still largely correlated to fluctuations in traditional financial markets. The currency has yet to prove its role as a safe haven.
Mirroring Kiyosaki, several successful entrepreneurs recommend buying Bitcoin to protect savings. This is the case of Ricardo Salinas Pliego, the second richest billionaire in Mexico. During the Bitcoin 2022 conference in Miami, the billionaire explained that he had been a victim of inflation in the course of his life.
“I was making $2,000 in 1980 and a few years later I was making $20 – the same salary was down from $2,000 to $20. So I know about hyperinflation. I went there. And it is not the same thing to know it in theory than to actually be a victim of it”, says Ricardo Salinas Pliego. He estimates that “the only way to save your skin”is to buy Bitcoin.
WIley COYOTE moment coming. Biggest Bubble Bust coming. Baby Boomer’s retirements to be stolen. $10 trillion in fake money spending ending. Government, Wall Street & Fed are thieves. Hyper-inflation Depression here. Buy gold, silver, Bitcoin before the coyote wakes up. Take care
— therealkiyosaki (@theRealKiyosaki) April 16, 2022