Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has issued a stark about an impending financial crisis that he believes will lead to a significant market downturn, including a potential Bitcoin crash to $5,000 per coin. In a post on X today, Kiyosaki elaborated on his views regarding the current economic climate, drawing parallels to the 2008 Global Financial Crisis (GFC).
Why Bitcoin Could Crash To $5,000
Kiyosaki revisited the events of 2008, referring to the GFC as a pivotal moment when, in his view, “the criminals at the Fed and Treasury began printing trillions of fake dollars in an attempt to stop a Global ‘F-ing’ Depression.” He argued that these measures were taken to save “their ultra-rich friends,” while the general public was left to suffer the consequences.
According to Kiyosaki, the massive influx of newly printed money led to what he describes as “The Everything Bubble,” a phenomenon where all markets began to rise artificially, “floating on a sea of fake money.” He believes that this bubble is unsustainable and is on the verge of transforming into “The Everything Crash.” He warns that “everything will crash, including gold, silver, and Bitcoin,” suggesting that the market is approaching a critical point akin to a “blow-off top.”
Kiyosaki emphasizes that this impending crash could be detrimental for most people, potentially leading to a global depression that was narrowly avoided in 2008. He urges individuals not to be complacent or comfortable in what he considers a “fake bubble,” and to instead prepare for the forthcoming economic downturn.
He points out that prominent investors are already taking action by selling “overpriced” assets and converting them into cash. The best-selling author cites Warren Buffett as an example, noting that Buffett has reportedly been selling his Apple shares and accumulating large reserves of US dollars.
Despite the grim outlook, Kiyosaki sees the anticipated crash as an opportunity for those who are prepared. He encourages people to take proactive steps, even if they currently lack financial resources. “After the everything crash….that follows the everything bubble….the prepared will get really rich…I plan on being one of the prepared…I plan on becoming even richer….and I want you to become richer too,” Kiyosaki remarked.
Specifically regarding Bitcoin, Kiyosaki predicts that the cryptocurrency could plummet to $5,000 during the crash. However, he also forecasts a dramatic rebound, with Bitcoin potentially soaring to $100,000 or even $250,000 and beyond after the market stabilizes.
“Take Bitcoin for example… it may crash to $5000 a coin….then boom to $100,000 to $250,000 and higher. Obviously, I will be buying all the Bitcoin I can, as well as other assets, at bargain basement prices,” he stated.
Throughout his post, Kiyosaki maintains a critical stance toward the Federal Reserve and the US Treasury, whom he accuses of perpetuating a flawed financial system that benefits a select few at the expense of the majority. He concludes, “I want you to be one of the rich…not one of the victims of the criminal Fed and Treasury.”
At press time, BTC traded at $65,657.
BTC price, 1-day chart | Source:
Featured image from YouTube / Dad Saves America, chart from TradingView.com
Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with shenyangcang.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.
Read more
His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.
Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.
For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.
As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.
In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.
You can engage with his latest takes on Twitter: @realJakeSimmons.
Close
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
