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Robert Kiyosaki, a financial expert, investor, also known as the author of the classic book on personal finance management “Rich Dad Poor Dad” has addressed his Twitter/X followers with a tweet revealing a new huge reason why it is a perfect time for buying Bitcoin now.
“Another giant bank in China goes bust”, “time to get real Bitcoins”
Robert Kiyosaki issued a large tweet stating that “another giant bank in China went bust.” Apparently, the “Rich Dad Poor Dad” author is referring to the erosion of the balance sheets of largest Chinese banks at the moment because of their real estate bad loans creeping up.
Earlier this week, Chinese Bank of Communications Co. reported a massive surge in its property bad loan ratio as it jumped from 2.8% to 4.99%. Besides, according to Bloomberg, “the special mention loans for the segment — a leading indicator of soured loans — jumped 23% to 9.88 billion yuan ($1.4 billion).” Kiyosaki pointed out that China has three largest banks in the world.
The same thing is happening to the US commercial real estate at the moment, Kiyosaki stated, “specifically office buildings go bust.” Since a lot of real estate investment trusts aka mutual fund trusts are being used by investors of the baby boom generation for their retirement schemes, Kiyosaki used this news event to recommend boomers to start getting out of these “fake assets.”
BOOMERS to go BUST? Another giant bank in China went bust. Why? This time it’s commercial real estate, not residential going bust.
FYI. China has the three biggest banks in the world.
The same is happening in US as commercial real estate, specifically office buildings go…
— Robert Kiyosaki (@theRealKiyosaki) March 29, 2024
He then added that “Boomer retirement plans are filled with these fake assets. Boomers retirements are going broke as paper assets crash.”
Robert Kiyosaki called on his Twitter/X followers that no matter what their age is, they should “get out of fake assets, including fiat, dollars” and start buying “real gold, silver, and real Bitcoins.”
Kiyosaki plans to buy 10 more BTC
Earlier, the renowned financial writer and entrepreneur stated that he intends to buy 10 more Bitcoins before the BTC halving takes place in late April. After that, he expects that by September Bitcoin is likely to skyrocket to hit the $100,000 price level.
Answering a question if Bitcoin could be a scam, Kiyosaki tweeted that he does not care, since it is no more scam than US dollar, euro, yen, or any other fiat currency.
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