Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has made some bleak predictions about the economic outlook, as he praised gold, silver, and Bitcoin (BTC) as alternatives to the United States dollar.
Indeed, with the gloomy warnings of a “giant crash coming” and “depression possible,” Kiyosaki explained that the Federal Reserve was “forced to print billions in fake money,” which is how he referred to the U.S. dollar in his tweet on February 13.
On the other hand, he projected that by 2025, gold would reach the price of $5,000 per ounce, “silver at $500, and Bitcoin at $500,000,” because “faith in [the] US dollar, fake money, will be destroyed.” Finally, he addressed gold and silver as “God’s money,” and Bitcoin as “people’s dollar.”
Kiyosaki warns of a recession ahead
Notably, the best-selling author and entrepreneur, who is a known critic of the fiat currency system in the U.S. and the world, had previously warned that the world was already in a recession, voicing the expectations of a rough landing.
He had earlier also reiterated that investors should avoid paper money and instead focus on accumulating precious metals like gold, which he expected to rally in the coming months due to the accumulation by central banks, predicting that the stock market would likely crash further.
As for the flagship decentralized finance (DeFi) asset, Kiyosaki labeled it one of the three “hottest subjects on earth” alongside silver and gold, referring to Bitcoin as “people’s money,” and attributing its bullish rally in January to the increasing demand for alternative investment products.
Bitcoin price analysis
Meanwhile, the maiden cryptocurrency, which Kiyosaki predicts to trade at $500,000 by 2025, was at press time changing hands at the price of $21,756, down 0.8% on the day, as well as declining 5.19% across the previous week but still recording an increase of 9.1% on its monthly chart, as per data retrieved on February 13.
It is also worth noting that one of Bitcoin’s key technical indicators, the Rainbow relative strength index (RSI), had turned green for the first time on February 12 after an extended correction, suggesting long-term bullish momentum, as Finbold reported.
Featured image via Ben Shapiro’s YouTube.
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