Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad, Poor Dad,” has warned of a rough landing, stating that a global recession is already here after months of raising the alarm regarding the deteriorating global economy.
According to Kiyosaki, the rough landing will result from factors such as rising bankruptcy, unemployment, and homelessness rates, he said in a tweet on January 28.
However, Kiyosaki also sees a silver lining, stating that bargains are everywhere in the form of various assets. He suggests investing in gold, silver, and Bitcoin (BTC) as valuable assets that could weather the economic storm.
“Unfortunately, we are in a global recession. Hang on. Rough landing for world. Bad news, bankruptcy, unemployment, homelessness soar. Retirements toast. Good news, bargains everywhere, gold, silver, Bitcoin priceless,” he tweeted.
Over the recent months, Kiyosaki has warned that skyrocketing inflation and interest rates could lead to a global recession. He has blamed the Federal Reserve monetary policy for the economic situation and urged investors to prepare for the fallout.
Kiyosaki’s support for Bitcoin
However, Kiyosaki has long advocated investing in gold, silver, and Bitcoin as a cushioning mechanism. Notably, his endorsement of Bitcoin is not surprising, given its increasing popularity as a safe haven asset and hedge against inflation among proponents.
For instance, Kiyosaki projects that Bitcoin will remain the only standing cryptocurrency backed by regulatory clarity due to his long-term belief in it. Kiyosaki has noted that authorities are likely to crash other digital assets as they are securities, while Bitcoin is a commodity. According to Kiyosaki:
“I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity, much like gold, silver, and oil. Most crypto tokens are classified as a security, and SEC regulations will crush most of them. I am buying more BTC.”
Furthermore, Kiyosaki has believes that precious metals and Bitcoin holders will prosper when the Federal Reserve, Treasury, and Wall Street switch to printing trillions of dollars. He intends to take advantage of any Bitcoin price drop to accumulate the asset.
Currently, Bitcoin has started 2023 on a positive note, gaining almost 40% and reclaiming the $23,000 level.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
