Renowned for his best-selling book ‘Rich Dad Poor Dad,’ Robert Kiyosaki has established himself as a prominent advocate of alternative investments such as Bitcoin, Gold, and Silver. With mounting concerns over the United States potentially defaulting on its debt, Kiyosaki has resurfaced to reiterate his warnings about an impending severe recession and increasing corruption within the nation. Urging his followers to consider Bitcoin (BTC) as a safeguard against these looming challenges, Kiyosaki emphasizes the cryptocurrency’s potential as a capital appreciator as well as an insurance policy amidst turbulent times.
Kiyosaki Advocates Bitcoin Against Corruption
On Friday, while speaking about the country’s present economical situation, the 76-year-old author and entrepreneur shared his thoughts on the current economic state of the country, painting a grim picture of a looming “crash landing”.
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Amidst rampant corruption and widespread incompetence, he touted the above-mentioned assets as the most reliable hedge against the impending crisis, emphasizing their ability to withstand volatile times — just like insurance policies.
Kiyosaki’s Multiple Warnings Of Economic Crisis
In his unrelenting criticism of the US government and the United States dollar, Robert Kiyosaki has many a time, described the currency as nothing more than “toilet paper” and even questioned its future status as the world’s reserve money. As reported earlier on CoinGape, Kiyosaki had previously brought attention to the inversion of the yield curve and how this phenomenon could lead to a recession.
Earlier, the award-winning author also touched upon the US government’s plans for issuing a Central Bank Digital Currency (CBDC), which according to him is an invasion of privacy. Kiyosaki opines that the CBDC would serve as a gateway for tracking user activity, monetary spending and other covert operations by the government. Instead, he finds Bitcoin as a better alternative and predicts it to hit $100,000 by the year-end.
As things currently stand, the price of Bitcoin is exchanging hands at $26,945 which represents a drop of 0.70% in the past twenty-four hours as opposed to a gain of 2.31% recorded over the last seven days.
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