Kiyosaki stressed that he is wary of market crashes. He added that Bitcoin and its assets are a haven.
Robert Kiyosaki makes predictions
Robert Toru Kiyosaki is an American entrepreneur, businessman and author. According to Kiyosaki, Bitcoin price will reach $500,000 by 2025. He predicts that the price of gold will reach $5,000 and the price of silver to $500 in the same time frame. Moreover, Kiyosaki predicted a ‘major collapse’ and a potential collapse.
Kiyosaki said that “at least in this first generation, cryptocurrency” was nothing more than a giant pyramid scheme, where the sophisticated robbed the ignorant. He said he was interested in technology and could be persuaded to buy it at the right price. He then stated in his statements:
“I read technical analysis and what went to $20,000 went down to almost zero, then back to $1,000, $2,000, $3,000. I expected it to continue falling, so when it hit $6,000 I bought some.”
Kiyosaki predicted a market crash
Kiyosaki stressed that he is wary of market crashes. Kiyosaki tweeted on Friday that everything, including Gold, Silver and Bitcoin, will collapse, noting that another 66,000 employees have been laid off so far this year, and that more than 144,000 people in the tech industry will lose their jobs in 2022.
According to Kiyosaki, the US dollar was counterfeit money because it depended on the ‘full faith and credit’ of the US rather than real money like gold. Real money is Silver, Bitcoin and Gold. It looks like Kiyosaki plans to take advantage of this situation to buy more crypto.
Many agree with Kiyosaki on his outlook and investment strategy for the upcoming recession. The general feeling, however, is fear among the crypto community. cryptocoin.com Bitcoin price is currently $24,528, with a total market cap of $473,250,586,445, according to his data.
He uses Bitcoin through his stock portfolio
Robert Kiyosaki suggested investing in Bitcoin, gold and silver instead of a diversified stock portfolio. The investor announced his stance in a tweet yesterday, claiming that investing in stocks, bonds and exchange-traded funds (ETFs) in times of uncertainty is ‘too risky’.
Specifically, it follows the forecast of a potential economic depression. According to the author, as the Fed continues to print billions of dollars, people will lose faith in the dollar. As a result, he predicts a price of $500,000 for Bitcoin by 2025, believing that people will flee to Gold, Silver and Bitcoin in response.
Michael Burry has been calling for a stock market crash similar to the dot com bubble of the early 2000s for months. The analyst cites continued rate hikes as the accelerating factor suggesting recent market rallies are not sustainable. First, after increased spending spurred by the coronavirus pandemic, which led to record inflation, the US government recently approved a spending budget of $1.7 trillion. This means more spending and printing money.
At the same time, strong employment numbers and unyielding inflation encouraged the Fed to continue raising rates with a target of around 5%. In particular, the Fed’s rate hikes in response to inflation caused the stock and crypto markets to suffer significant losses in 2022 as consumers are less inclined to spend and invest.
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