Renowned financial author Robert Kiyosaki, best known for his book “Rich Dad Poor Dad,” has delivered a foreboding message about an upcoming financial crisis. He predicts a significant market downturn, including a potential drop in Bitcoin value to $5,000 per coin. In a recent discussion on X, Kiyosaki shared his insights on the current economic landscape, drawing sharp comparisons to the 2008 Global Financial Crisis (GFC).
Understanding the Potential Bitcoin Crash to $5,000
Kiyosaki revisited the tumultuous events of 2008, labeling the GFC as a critical period when, in his view, “the criminals at the Fed and Treasury began printing trillions of fake dollars in an attempt to stop a Global ‘F-ing’ Depression.” He asserted that these measures primarily served the interests of the ultra-wealthy, leaving ordinary citizens to bear the consequences.
The Rise of “The Everything Bubble”
According to Kiyosaki, the extensive creation of money led to what he describes as “The Everything Bubble,” a scenario where markets surged artificially, buoyed by a flood of counterfeit money. He argues that this unsustainable bubble is poised to evolve into “The Everything Crash.” Kiyosaki warns that “everything will crash, including gold, silver, and Bitcoin,” indicating that the market is nearing a critical juncture similar to a “blow-off top.”
Kiyosaki emphasizes that this imminent crash could have severe repercussions, potentially triggering a global depression that was narrowly averted in 2008. He urges individuals not to fall into complacency within what he terms a “fake bubble” and to instead brace themselves for the upcoming economic downturn.
Strategic Moves by Prominent Investors
He highlights that notable investors are already taking precautionary measures by liquidating “overpriced” assets and converting them into cash. Kiyosaki points to Warren Buffett as a prime example, noting that Buffett has reportedly been selling Apple shares and amassing substantial reserves of US dollars.
Opportunities Amidst the Crisis
Despite the dire forecast, Kiyosaki views the anticipated crash as a chance for those who are well-prepared. He encourages individuals to take proactive measures, even if they currently lack significant financial resources. Kiyosaki optimistically states, “After the everything crash….that follows the everything bubble….the prepared will get really rich…I plan on being one of the prepared…I plan on becoming even richer….and I want you to become richer too.”
Bitcoin’s Potential Rebound
Specifically concerning Bitcoin, Kiyosaki predicts that the cryptocurrency could plummet to $5,000 during the crash. However, he also envisions a dramatic resurgence, with Bitcoin potentially escalating to $100,000 or even $250,000 and beyond after the market stabilizes. “Take Bitcoin for example… it may crash to $5000 a coin….then boom to $100,000 to $250,000 and higher. Obviously, I will be buying all the Bitcoin I can, as well as other assets, at bargain basement prices,” he expressed.
Critique of the Federal Reserve and US Treasury
Throughout his discourse, Kiyosaki maintains a critical perspective toward the Federal Reserve and the US Treasury, whom he accuses of sustaining a flawed financial system that disproportionately benefits a privileged few at the expense of the majority. He concludes with a call to action, “I want you to be one of the rich…not one of the victims of the criminal Fed and Treasury.”
At the time of writing, Bitcoin is trading at $65,657.
