Renowned financial guru and author of the classic personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki, recently shared his thoughts on the future of Bitcoin and gold. Kiyosaki took to Twitter expressing bullish sentiments towards Bitcoin. Highlighting concerns about the potential crash of gold.
Kiyosaki’s take on precious metals
In a tweet, Kiyosaki referenced Andy Schectman, president of Miles Franklin Ltd. Precious Metals. In a January interview, Schectman voiced doubts about the likelihood of anyone being willing to lend money to the US. This skepticism arises from the government’s plan to print $1 trillion worth of Treasuries per quarter, with the intention of using the funds to pay interest to current Treasuries holders.
Even though Robert Kiyosaki isn’t sure about gold, he’s hopeful about Bitcoin and silver. He thinks they will become much more valuable. He said before that Bitcoin could reach $5,000 and even $500,000. He believes in them because they can help safeguard your money from losing value due to regular currency losing its worth.
Acknowledging his substantial debt of $1.2 billion, Kiyosaki remains unfazed, asserting that if he were to face financial difficulties, it would be the bank’s problem, not his.
His debt
In January, the Rich Dad Poor Dad author Robert Kiyosaki shared a unique perspective on debt and investment via social media platform Instagram. He stated, “I use debt to acquire assets.” Kiyosaki emphasized the importance of this strategy and expressed skepticism towards saving cash, noting, “The US dollar detached from the gold standard during President Richard Nixon’s tenure in 1971.”
Rather than saving cash, Kiyosaki preferred to store gold and convert his earnings into silver and gold. It was reported that he openly acknowledged his $1.2 billion debt, saying, “if I go bust, the bank goes bust. Not my problem.” Kiyosaki elaborated, saying that the debt arose from using the money to purchase assets. He emphasized, “Instead of saving cash, I saved gold and converted my earnings into gold and silver.” This approach, according to him, led to the accumulation of such a large debt.
In previous tweets, Kiyosaki has warned of a potential crash in the U.S. bond and stock markets, advising his followers to prepare for a 70% downturn in the S&P 500 index. He views gold, silver, and Bitcoin as essential hedges against economic instability, highlighting their potential to safeguard wealth.
Kiyosaki’s confidence in Bitcoin was further demonstrated when he announced purchasing an additional 5 BTC following the approval of spot-based Bitcoin ETFs by the US SEC, as per reports.
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