Vocal Bitcoin supporter, entrepreneur Robert Kiyosaki, also well-known for his classic book on managing personal finance “Rich Dad Poor Dad”, took to Twitter/X to share another “piece of financial wisdom” with his followers.
This time, he made a bullish prediction on Bitcoin and another asset he believes to be important in the future – silver, also criticising the situation with fast growth of the US national debt.
Word on US bonds, Bitcoin and gold: Bitcoin to $500,000
In his tweet, Robert Kiyosaki cited Andy Schectman, president of Miles Franklin Ltd. Precious Metals. In a January interview, Schectman expressed his doubts as to whether anyone will agree to lend money to the US since the government intends to print a $1 trillion worth of Treasuries per quarter and it seeks money just to pay the interest to the current holders of Treasuries.
Andy Schectman asks a very important question. “Who is going to buy US Bonds?” Banks are buying gold not US debt. How will America run without money? How will the world operate with money? What will you do without money? Gold is going to crash possibly below $1200. Silver will…
— Robert Kiyosaki (@theRealKiyosaki) February 14, 2024
Kiyosaki stated that US banks are currently buying gold and not Treasuries. Kiyosaki assumes that should things continue to develop the way they are going now, the US may be put into a tight corner. Still, despite his words about banks preferring gold to US Treasuries, the financial guru expects gold to “crash below $1,200”. He did not name any particular timings for that.
But the good news, per Kiyosaki, is that he expects Bitcoin and silver to take off. His earlier predictions for the Bitcoin price include $135,000 and then up to $500,000.
Kiyosaki buys Bitcoin after ETF launch
In his earlier tweets, Kiyosaki has constantly predicted a crash to hit the US bond and stock market. In a recent tweet, he advised Twitter readers to prepare for a 70% crash for the S&P 500 index.
He believes that gold, silver and Bitcoin are the “three whales” that can protect one’s wealth from devaluation that comes through fiat money. Besides, he believes that gold and silver are going to be widely used in certain industries in the near future, therefore he expects their price to skyrocket, as well as that of Bitcoin.
In the middle of last month, after the Securities and Exchange Commission of the US finally approved the launch of spot-based Bitcoin ETFs, Robert Kiyosaki tweeted that he had purchased some more Bitcoins – namely, 5 BTC.
