Robert Kiyosaki, the author renowned for the best-selling personal finance book ‘Rich Dad Poor Dad,‘ has built a reputation over the years for making numerous predictions concerning the financial world.
As the global financial sector grapples with multiple challenges in 2023, the author has stepped forward to forecast what may unfold in the upcoming year. His predictions focus on both the traditional financial space and cryptocurrencies. Here are his three main predictions for 2024 by the financial educator.
Bitcoin could hit $120k
Kiyosaki’s first prediction centers on the destiny of Bitcoin (BTC) and the US dollar. The investor’s forecast is grounded in the actions of the BRICS nations—Brazil, Russia, India, China, and South Africa—who are anticipated to unveil a gold-backed cryptocurrency, symbolizing the potential decline of the US dollar.
According to Kiyosaki, Bitcoin, and precious metals, including gold and silver, are poised to benefit, as investors are expected to redirect funds into these assets in response to what he terms as skyrocketing inflation resulting from the demise of the dollar. In his perspective, Bitcoin might hit a new all-time high of $120,000.
“US $ will die. Trillions of US $ rush home. Inflation through the roof. Buy gold, Silver. Bitcoin to $120k next year,” he said.
Bonds and stocks might be 2024’s biggest losers
In a departure from conventional investment wisdom, Kiyosaki declared that traditional 60/40 investors, who typically allocate 60% of their portfolios to bonds and 40% to stocks, will face significant losses in 2024.
Instead, he suggested a radical shift to a 75% gold, silver, and Bitcoin portfolio, with the remaining 25% invested in real estate or oil stocks. According to the financial educator, this unconventional mix is designed to help investors weather what he describes as the “greatest crash in world history.”
“In 2024 60/40 investor will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks. This mix may allow you to survive the greatest crash in world history,” he said.
Potential economic depression
Kiyosaki’s third prediction is a stark warning about the potential severity of the upcoming market crash. Rejecting the notion of a soft landing, he argued that a crash landing is more likely and could escalate into a full-blown economic depression.
Referencing his earlier book, “Rich Dad’s Prophecy,” published in 2012, Kiyosaki urged investors to prepare for the worst. As 2024 is an election year, he injected a political note, advising against voting for liberal candidates whom he labels as “woke greenie Marxists.”
Instead, he advocated for conservative choices to avoid what he believes could be a transformation of the USA into a Marxist state akin to Russia, China, or Cuba.
It’s important to recognize that Kiyosaki’s prediction is subject to change, given potential market fluctuations that could impact the overall economic outlook.
