A major and long-standing dissenting voice to the current broad sentiment that 2024 will be a strong year for the market has been Robert Kiyosaki – a prominent investor and author of the best-selling personal finance book, “Rich Dad Poor Dad.”
For a long time, Kiyosaki has been warning that there are numerous factors that could lead to a deepening of the financial crisis and put the majority of the people into ever-greater economic hardships.
In an X post on January 4, 2024, Kiyosaki took a slightly different approach to his standard warnings of looming danger and instead pointed out that there are several major opportunities for savvy investors coming as early as the spring of this year.
In the tweet, the author urged his followers to closely monitor Bitcoin (BTC), gold, and silver – particularly in January, February, and March. He also expressed a stance similar to the adage “your network is your net worth” – emerging from the title of a 2013 Porter Gale book – and concluded his message by saying, “please choose your friends carefully.”
The author also highlighted that the Bitcoin halving – the halving of BTC mining rewards set to occur approximately 100 days from the time of publication – is fast approaching. Historically, the event has led to major rallies for Bitcoin and many other cryptocurrencies.
The BTC bull run
In recent months, Bitcoin has been steadily rallying, with its price rising from under $30,000 to more than $40,000 in the final quarter of 2023.
In the last 52 weeks, the world’s foremost cryptocurrency is up as much as 155.24%. It, however, went through a swift and significant decline of 5.33% in the last 24 hours, and its price at the time of publication stands at $43,001.
The bull run has been driven by multiple factors, including the anticipation of the halving and the expected approval of a spot BTC exchange-traded fund (ETF) – an approval that some experts believe might occur in the first week of January.
Along with the expectations that Bitcoin will surge in price after the halving, Kiyosaki has been in favor of the cryptocurrency for a long time as a hedge against what he describes as various government abuses and has previously described it as the “people’s money.”
Hedging with gold and silver
Rober Kiyosaki has also been a long-standing supporter of investing in gold and silver – also largely as hedges against government-caused dangers such as hyperinflation. Given that the author has recently voiced his concerns that the U.S. is headed for “war and depression,” his most recent mention of the commodities aligns with his general advice.
Given the current tensions around the world – the drone and bombing attacks in Beirut and Kerman, recent Boko Haram attacks in Nigeria, the ongoing conflict in Gaza, Russia’s war in Ukraine, and Xi Jinping’s recent reaffirmations that China and Taiwan will be unified, just to name a few – it isn’t impossible that gold and silver, as traditional crisis havens, will rise in value in 2024.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
