U.Today - Robert Kiyosaki, investor and advocate of financial education, also known as the author of “Rich Dad Poor Dad” and other “Rich Dad” books, has issued a statement urging his X followers to start paying attention to the current economic situation in the U.S. and to the world’s leading cryptocurrency, Bitcoin, in connection with it.
Kiyosaki warned his followers on social media against investing in Bitcoin ETFs, urging them just to buy and hold Bitcoin directly. He claims that the tremendous market crash, which he predicted 13 years ago, has already begun.
"Bail yourself out with Bitcoin" – Kiyosaki
Kiyosaki pointed out that since the financial crisis of 2008 caused by the mortgage market crisis, heavy liquidity injections have been made regularly by central banks to bail out Wall Street. In 2023, several large banks were also supported by them as they went bankrupt, including Silvergate Bank and a few others.However, Kiyosaki assumes that the time will definitely come when someone will have to “bail out the Central Banks” too. The financial expert believes that each of these crises began after President Nixon took the U.S. dollar off the gold standard back in 1971. “Each crisis gets bigger because they never solve the problem,” he tweeted. The next financial crisis, the “Rich Dad Poor Dad” author says, is going to be triggered by “the collapse of $1.6 trillion in student loan debt.”
In his tweet, Kiyosaki says that there is a way to protect oneself against the coming crisis. That is to bail out oneself and one’s family, using not “fake fiat money,” but by saving “real gold, silver, and Bitcoin.”
No Bitcoin ETFs, Kiyosaki warns, just Bitcoin
Kiyosaki quoted his books that came after he published “Rich Dad Poor Dad,” and all of them had a throughline that argued, “The rich don’t work for money” and “Savers are losers.”He believes that only real gold, silver and Bitcoin can help people survive during crises but is strongly against ETFs based on Bitcoin and gold. This is not the first time Kiyosaki has mentioned this thesis. He believes these assets are also “fake” ones.
Over the weekend, Kiyosaki tweeted that he was buying more Bitcoin, urging his audience on X to follow his example.