Robert Kiyosaki Urges Buying Bitcoin Amid Bank Collapses and Potential Government Bailouts
Recently, Robert Kiyosaki, the renowned author of the best-selling personal finance book 'Rich Dad Poor Dad,' has been vocal about his concerns regarding the financial industry.
After the collapse of three major US banks, Signature Bank, Silicon Valley Bank (SBV), and Silvergate Bank, Kiyosaki expressed his apprehension about government bailouts and advised people to invest in alternative assets such as Bitcoin, gold, and silver. According to his Twitter post published on March 13, Kiyosaki predicted that the bailouts would lead to “more fake money” invading a sick economy.
BAIL OUTS begin. More fake money to invade sick economy. Still recommend same response. Buy more G, S, BC. Take care. Crash landing ahead.
— Robert Kiyosaki (@theRealKiyosaki) March 13, 2023
This is not the first time the author has criticized fiat currencies, such as the United States dollar, calling them fake money that could contribute to the “end of the American Empire”.
He has been consistent in his belief that people should purchase alternative assets to protect their wealth. He reiterated his earlier warnings of an upcoming “crash landing” and urged people to invest in gold, silver, and Bitcoin.
On the other hand, Treasury Secretary Janet Yellen ruled out the possibility of a federal government bailout for SVB’s investors, citing the lessons learned and reforms introduced after the previous financial crisis. However, she also expressed concern for depositors and said regulators were working to meet their needs.
In late January, Kiyosaki warned about a rough landing for the world, predicting a surge in bad news, bankruptcy, unemployment, homelessness, and a retirement crisis. At the same time, he also pointed out the good news in the form of bargains everywhere and the prices of gold, silver, and Bitcoin.
In mid-February, Kiyosaki made gloomy predictions of a giant crash and warned of a likely depression, citing the Federal Reserve’s printing of billions of “fake money”.
He praised gold, silver, and Bitcoin as alternative assets and predicted that Bitcoin could reach the price of $500,000 by 2025. He also expressed concern about the starvation and social unrest that could follow the financial crash and the rising inflation that could “wipe out 50% of the US population”.