Rich Dad Poor Dad Author Doubles Down on Bitcoin Amid Fears of Bank “Crisis”


On a global scale, few actually own Bitcoin. According to Robert Kiyosaki, the author “Rich Dad Poor Dad,” though, everyone should own the cryptocurrency ahead of the coming “banking crisis.”

This comment is in line with the sentiment of an impending collapse in banking and in the fiat currency system that Kiyosaki has extensively shared since the pandemic began.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC

Robert Kiyosaki Continues to Tout Bitcoin Amid Fears of “Banking Crisis”

Months ago, the tweets of financial educator and entrepreneur Robert Kiyosaki began to gain traction within Crypto Twitter.

Seemingly due to the pandemic, Kiyosaki began to fear that a collapse of the institutions that run the economy is entirely possible. And according to him, owning gold, silver, and some Bitcoin is a smart way to hedge risks against this collapse.

On August 20th, he doubled down on this sentiment when he tweeted:

“WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?”

Kiyosaki added that along with a collapse in the banking sector, he is also expecting a secondary drop in the stock market that will be “bigger than March 2020,” when the S&P 500 plunged by approximately 40%.

Related Reading: Is BTC Really In a Bull Market? Here’s Why Analysts Think BTC Isn’t

The Fundamentals For Bitcoin Have Never Been Better

Although it isn’t clear if Kiyosaki’s fears are valid, many analysts agree that owning BTC is more logical than ever due to stronger fundamentals than ever.

Real Vision chief executive Raoul Pal, who is a Wall Street veteran, said that all trades may be inferior to Bitcoin due to charts and fundamentals:

“In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Yup, Bitcoin. My conviction levels in bitcoin rise every day. Im already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation, but that’s a story for another day (I’m still thinking through this).”

Pal added that he is “irresponsibly long” on the leading cryptocurrency.

Related Reading: DeFi Giant Compound (COMP) Dives 9%: What’s Next for the Ethereum Token?
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from
Rich Dad Poor Dad Author Doubles Down on Bitcoin Amid Fears of Bank "Crisis"

Products You May Like

Articles You May Like

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs
Bitcoin mining advocate is going state-to-state to educate US lawmakers
Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation
Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally?

Leave a Reply

Your email address will not be published. Required fields are marked *