Famous author and vocal Bitcoin supporter Robert Kiyosaki has published new advice for traders in the financial landscape. In his recent post, the Rich Dad Poor Dad author urged his followers to ditch the dollar in favor of Bitcoin, gold and silver. Robert Kiyosaki opined that ‘baby boomers’ retirements are going broke with the crash of paper assets. In his words, he mentioned his distrust for any financial instrument that can be printed.
Robert Kiyosaki urges traders to embrace Bitcoin
The author returned with his latest warning, highlighting the current crash of paper assets. Robert Kiyosaki co-authored Rich Dad Poor Dad with Sharon Lechter, a book that has since gone on to amass massive success since its release in 1997. The book has sold more than 32 million copies in 109 countries among other successes it has enjoyed. The book has also been on New York’s Best Seller list for more than six years.
In his recent post on X (formerly known as Twitter), Robert Kiyosaki questioned the likelihood of boomers going bust, while noting that another bank in China just went bust. In his follow-up, he mentioned that China houses three of the biggest banks across the world. However, he clarified that it is commercial real estate that has gone bust and not residential.
Robert Kiyosaki noted that the same trend is occurring in the United States as commercial real estate is going bust. He provided further clarity about why baby boomers are affected by the commercial real estate market. He noted that Boomer retirement plans like the Real Estate Investment Trusts (REITs) are filled with the fake assets that he described. He noted that Boomer’s retirements are going broke with the crash in paper assets. He stressed that regardless of age, it is time for traders to drop these assets while noting that he has lost trust in anything that can be printed.
Prediction of Bitcoin surge and caution of banking crisis
The Chinese property sector is currently undergoing a lot of issues which began with the default of Evergrande Group in 2021. This single issue led to financial troubles for other major developers. Moreover, a Chinese court also ordered that Evergrande Group be liquidated in January. The minister of housing and rural support in China also stated earlier that companies in insolvency should go bankrupt or undergo restructuring according to the country’s law and market principles.
Kiyosaki has been a long critic of fiat currencies, referring to them as fake money. In some other cases, he has also likened them to Ponzi schemes, as he has always reiterated that gold and silver are God’s money. He recently noted that Bitcoin is an asset that came at the right time, noting that it is the people’s money. The author has made a big Bitcoin prediction, noting that the upcoming halving might fuel the price of the asset to hit $100,000 by September.
He also believes that the asset could go on to hit $300,000 before the end of the year. The author has also doubled down on his belief in the asset, urging investors in the market to buy as much Bitcoin as they can get. He noted that they need to do this before boomers’ pensions are wiped off by the biggest-ever bubble burst in history. He also spoke about the crisis currently ongoing in the banking sector, another upcoming war, and the dangers behind individual privacy concerning the central bank digital currency (CBDC).
