It’s becoming increasingly hard to miss the tweets from Robert Kiyosaki, the author of the best-selling personal finance book, “Rich Dad Poor Dad”. The American businessman has been going full throttle recently as he preaches bitcoin, gold, and silver to his followers.
He doubled down on bitcoin recently, noting that the only way that people can save themselves is by purchasing the digital asset.
Save Yourself, Buy Bitcoin: Robert Kiyosaki
In a tweet on May 20, Kiyosaki explained that financial trouble is brewing for the United States (and the world in general) amid the COVID-19 pandemic. He observed that the Fed’s action to mitigate the situation by printing “fake dollars” will not save us.
Rather than waiting on Fed’s intervention that will never bear fruit, Kiyosaki urges his followers to save themselves by buying gold, silver, and the OG cryptocurrency.
NEW YORK CITY GOING BROKE. All cities count on INCOME TAX, SALES TAX & REAL ESTATE TAXES, especially COMMERCIAL RE. Add pension contributions for teachers firefighters & police. USA GOING BROZkE. FED PRINTING FAKE $ cannot SAVE YOU. Get gold silver Bitcoin and SAVE YOUR SELF.— therealkiyosaki (@theRealKiyosaki) May 19, 2020
In a previous tweet, Kiyosaki posited that the economy is dying and the Federal Reserve is simply incompetent with the trillions in liquidity being infused into the system. The popular financial educator also went as far as to share his bitcoin price forecast: $75,000 in three years’ time.
Why ‘Rich Dad’ Author Is Overwhelmingly Bullish On Bitcoin
As coronavirus continues its spread across the world- now with over 4.9 million confirmed cases worldwide- central banks have committed to using their full ammunition to cushion the economy.
The Federal Reserve, in particular, has unleashed quantitative easing of a magnitude never seen before. Just two months ago, the United States Senate approved a $2 trillion stimulus package that included $1,200 in emergency checks for the citizens. Most recently, the US House passed another $3 trillion for coronavirus relief.
These gigantic quantitative easing rollouts have provoked the ire of most market observers and finance gurus like Robert Kiyosaki who are well aware of the potential implications.
The rationale behind Kiyosaki’s statements is that while fiat currency weakens due to the increased supply, precious metals and bitcoin are immune to such debasement due to their guaranteed scarcity. When investors realize this, they will flock to these assets in very large numbers, ultimately driving the bitcoin price up.
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DISCLAIMER Read MoreThe views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.