Robert Kiyosaki Predicts Massive Price Increases for Bitcoin and Silver, Anticipates Decline in Gold
Renowned author and financial expert Robert Kiyosaki has made bold predictions about the future of the U.S. economy, foreseeing a significant shake-up that could lead to substantial price increases for Bitcoin (BTC) and silver. Conversely, Kiyosaki anticipates a decline in the value of gold, with prices potentially dropping below $1,200.
Kiyosaki, best known for his book "Rich Dad Poor Dad," has been increasingly vocal about the need for wider adoption of Bitcoin. Taking to social media, he has expressed concerns about the state of the U.S. economy and the future of U.S. bonds. In line with his previous warnings about an imminent "biggest crash in history," which he extensively discussed in his book 'Rich Dad's Prophecy,' Kiyosaki predicts a downturn for gold and an expected rise in the value of silver and Bitcoin.
In his critique of the financial planning industry, Kiyosaki points to its delayed recognition of hard assets like gold and silver, attributing this lag to the allure of money and commissions. He highlights that historically, gold and silver have outperformed the S&P 500, demonstrating their value as investments. In contrast, Kiyosaki projects a notable 70% crash in the S&P.
Amid these economic predictions, Kiyosaki has become a staunch supporter of Bitcoin, promoting it as a defense against the erosion of wealth by powerful institutions such as the Federal Reserve, Treasury, and Wall Street. He praises Bitcoin for its decentralized nature and its resistance to inflation, which he believes sets it apart from traditional financial entities that contribute to the dilution of wealth.
Kiyosaki's endorsement of Bitcoin stems from a broader critique of current economic leaders, targeting Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers for their roles in diminishing wealth through inflation, taxation, and manipulation of stock prices. According to Kiyosaki, Bitcoin serves as a protective measure against these tactics, offering a safeguard for wealth against erosion.
Bitcoin, the leading cryptocurrency, has experienced significant growth, boasting a total market cap surpassing $2 trillion. Currently priced at around $51,606, Bitcoin has seen a 6.7% increase over the past week, contributing to over $1 billion in market capitalization. While encountering resistance at $52,000, Bitcoin has displayed positive momentum for the past four weeks.
Kiyosaki's views align with those of business intelligence company MicroStrategy, which has consistently supported Bitcoin. The firm holds a substantial amount of the cryptocurrency, resulting in significant profitability, particularly with the recent surge in Bitcoin's price. This has sparked discussions about MicroStrategy's potential inclusion in the S&P 500 index, further bolstering Kiyosaki's predictions.
Analyst comment
Neutral news.
As an analyst, the market is likely to see increased interest in Bitcoin and silver, leading to price increases. Gold may see a decline below $1,200. The S&P 500 is projected to experience a significant crash of 70%. The cryptocurrency market, including Bitcoin, has shown growth, and MicroStrategy’s support of Bitcoin may lead to discussions about its inclusion in the S&P 500 index.
