Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad, Poor Dad,” has warned of a hard landing, claiming that a worldwide recession has already begun after months of sounding the alarm about the weakening global economy.
According to Kiyosaki, the harsh landing will be caused by things such as increased rates of bankruptcy, unemployment, and homelessness, he tweeted on January 28.
Kiyosaki also sees a silver lining, arguing that bargains in the form of diverse assets are everywhere. He recommends investing in gold, silver, and Bitcoin (BTC) as valuable assets that might withstand economic turmoil.
“Unfortunately, the world is experiencing a recession. Hang on. A harsh landing for the globe. Negative news, bankruptcies, unemployment, and homelessness are on the rise. Toast to retirement He tweeted, “Good news, deals everywhere, gold, silver, and Bitcoin are priceless.”
Kiyosaki has warned in recent months that soaring inflation and interest rates might cause a worldwide recession. He attributed the economic predicament to the Federal Reserve’s monetary policies and warned investors to brace for the fallout.
Nevertheless, Kiyosaki has long supported investing in gold, silver, and Bitcoin as a hedge. Notably, his support of Bitcoin is not unexpected, considering its growing appeal among proponents as a safe haven asset and inflation hedge.
Due to his long-term confidence in Bitcoin, Kiyosaki predicts that it will remain the only cryptocurrency supported by regulatory certainty. Kiyosaki said that authorities are likely to collapse other digital assets since they are securities, but Bitcoin is a commodity.
Moreover, Kiyosaki thinks that holders of precious metals and Bitcoin will benefit when the Federal Reserve, Treasury, and Wall Street begin printing trillions of dollars. He aims to capitalize on any Bitcoin price decline to acquire the asset. Bitcoin has begun 2023 on a strong note, rising about 40% and recovering the $23,000 milestone.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.