Kiyosaki says this will happen as a potential depression forces people to lose faith in the dollar.
Author of “Rich Dad Poor Dad,” Robert Kiyosaki, has predicted that Bitcoin will sell for as high as $500k in 2025.
The entrepreneur said this in a tweet today, asserting that a “giant crash” that could lead to a potential depression is coming. According to Kiyosaki, this crash will cause people to lose faith in the dollar and lean toward gold, silver, and Bitcoin.
Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin people’s $. Take care.
— Robert Kiyosaki (@theRealKiyosaki) February 13, 2023
Days ago, Kiyosaki asserted that the crash is already here, citing Silicon Valley layoffs. Notably, Kiyosaki also threw his weight behind a short-term Bitcoin price crash prediction for tomorrow, tapping it as a buying opportunity.
CRASH is here. Silicon Valley first dominos fall laying off 144,000 in 2022. 66,000 more 2023. VALENTINES DAY MASSACRE predicted by Stansberry Research. Everything will crash including prices gold, silver, BC. Do not panic. Good news. I will buy more G,S,BC, real money w/ fake $.
— Robert Kiyosaki (@theRealKiyosaki) February 10, 2023
Kiyosaki’s prediction comes when the United States, on the back of record inflation levels due to increased spending in the wake of the coronavirus pandemic, has approved a $1.7 trillion spending budget. In addition, the global superpower is also looking to raise its debt ceiling to keep its government running. All of these point to increased money printing which Kiyosaki taps as the catalyst for the crash.
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However, it is worth noting that this risk is not immediately apparent, judging by the latest job report numbers from the U.S., despite consistent Fed rate hikes. January data reveals that U.S. employers added 517k jobs, combined with low unemployment numbers, which means that the Fed will likely feel comfortable raising rates without recession fears.
At the same time, inflation has also shown signs of slowing, as December’s CPI data showed that prices fell 0.1%. Notably, the U.S. Bureau of Labor Statistics will release January’s CPI data tomorrow.
It bears mentioning that it is not the first time that Kiyosaki has predicted a U.S. economic crash. He has consistently made this prediction for at least one year, urging the public to store their wealth in assets like gold, silver, and Bitcoin.
At press time, Bitcoin, having given away some of the gains made in January, is trading for $21,898.33.
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