Key Takeaways
- Rich Dad Poor Dad author Robert Kiyosaki reveals why he bought more Bitcoins and Gold during the “sale” period.
- The renowned author and personal finance advisor has said he bought more gold and Bitcoin amid what he calls a Greater Depression.
- Kiyosaki has predicted a Great Depression and reiterated his stance on Bitcoin, gold, and precious metals as hedges against inflation.
As the price of Bitcoin falls, entrepreneur and venture investor Robert Kiyosaki, who is widely known for his best-selling book Rich Dad Poor Dad, isn’t worried. Instead, he has revealed that he took the falling prices as an opportunity to double down on his favorite assets, Bitcoin and gold.
According to a statement on his X social media page, Robert Kiyosaki shared his thoughts on Bitcoin’s ongoing dip. In answering why he was still buying Bitcoin despite the opposing rally, Kiyosaki stated it was because he believed the twin assets were safer than holding fiat currency. The renowned author stated:
“WHY I bought more gold and Bitcoin? Owning gold and Bitcoin is smarter and safer than saving dollars.”
The Greatest Depression is Coming
In his famous book Rich Dad Poor Dad, Robert Kiyosaki opines that traditional education doesn’t prepare individuals for financial independence. The author believes that while colleges mainly teach students to become employees upon graduation, they ought to focus more on financial literacy and entrepreneurship to help them safeguard their wealth in the event of an economic downturn.
Among his recommendations, Kiyosaki says that gold, silver, and Bitcoin are the best hedges against inflation and economic collapse. He repeatedly emphasizes their role in preserving wealth as fiat currencies weaken. The best-selling author is concerned that the world is rolling towards a new economic downturn, which he has christened the “Greater Depression.” He warned investors and advised them to take advantage of the falling BTC prices to prepare themselves for the challenging environment.
Bitcoin, Gold, and Silver
According to the author, the future looks grim, and millions of people could end up losing their jobs, homes, and stocks. Kiyosaki observes that markets are crashing and opines that those who followed his advice preceding this unseen crash stand to do well in the downturn. He insists that the best investments during this period are in precious metals such as silver and gold and cryptocurrencies such as Bitcoin.
Conclusion
The world’s flagship cryptocurrency has lost significant ground during the last few days, shedding off roughly 4.25% over the weekend. While BTC managed to recover the $100,000 lever following weekend trading, the asset was trading around $96,000 at the time of writing. While the market seems to be in turmoil, Robert Kiyosaki is optimistic. He believes investors should take advantage of the dip and buy more Bitcoin to hedge against an upcoming market crash.
