Robert Kiyosaki, author of New York Times bestseller Rich Dad Poor Dad, has advised people to buy Bitcoin to save themselves from a coming economic crash.
Despite receiving its fair share of criticism, Rich Dad Poor Dad has sold over 32 million copies since it was first self-published in 1997, and Kiyosaki has become a well-known social media personality, with 1.3m followers on Twitter alone.
On 19 May, he took to Twitter to denounce the Federal Reserve’s response to the COVID-19 pandemic, and urging investors to buy gold, silver, and Bitcoin (BTC).
A few hours earlier, he’d tweeted harsh criticism of Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, accusing him of murdering the economy with “fake pandemic fears.” Kiyosaki also urged people to prepare for more virus alarmism in the autumn.
AYO.NEWS says:
Though Kiyosaki isn’t everyone’s cup of tea, he does have a lot of influence on social media, and his comments will have been noted by many. And, despite Bitcoin (BTC) still seemingly stuck below $10K, Kiyosaki is just the latest in a growing chorus of notable voices warning that the cryptocurrency is about to come into its own as the traditional economy plummets into a self-inflicted death spiral in the wake of the COVID-19 lockdowns.
Over the past few weeks former Goldman Sachs hedge fund manager and current Global Macro Investor CEO, Raoul Pal, has speculated about $1m BTC, CEO of Pantera Capital, Dan Morehead, said $500 BTC is possible by summer 2021, crypto analyst PlanB used a modified Stock-and-Flow model to predict $288K BTC by the end of this year, and Silk Road founder Ross Ulbricht put his money on $333m BTC within a few years.
Meanwhile everybody’s favourite crypto eccentric John McAffee is still banking on $1m Bitcoin by the end of this year, and has warned about the imminent collapse of fiat currencies (and advised everyone to “buy peanut butter”).
In addition to individual predictions, we’re also starting to see some interesting signs in crypto trading and activity. For example, last week we reported that open interest on Chicago Mercantile Exchange Bitcoin options had exploded, surging over 1,000%, while two weeks ago Silvergate Bank said it had seen BTC transaction volumes surge during the first quarter of 2020.
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