‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’
Robert Kiyosaki, famed investor and author of the “Rich Dad” series of personal finance books, is yet another finance personality speaking out in favor of cryptocurrency investments, along with gold and silver.
In several tweets over the past few weeks, Kiyosaki touted his preference for these investments, even going so far as to say, “Get gold, silver, Bitcoin, ethereum before the biggest crash in history.”
US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande Chinas biggest property developer with 800 projects in 200 cities out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history. Take care.
— therealkiyosaki (@theRealKiyosaki) September 23, 2021
He later tweeted that he didn’t plan to sell any of his bitcoin, gold, or silver holdings, as he has “lots of cash.” However, he even added an October date to his prediction, making time of the essence:
Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful
— therealkiyosaki (@theRealKiyosaki) September 26, 2021
While Kiyosaki’s views may seem fringe — or even alarmist — his thoughts on crypto could be worth considering. In spite of 32 crypto hacks in 2021 so far, leading to a loss of $2.99 billion, and two of the biggest hacks in crypto history occurring within the past three months, coins such as Bitcoin and Ethereum continue to gain steady value. Bitcoin broke $50,000 USD in value just today.
Likewise, some high-profile investors are diversifying their portfolios with gold investments. Palantir Technologies, headed by Peter Thiel, recently purchased $50 million in gold bars as a hedge against inflation. Yahoo Finance pointed out that in the first six months of 2020, with uncertainty in the stock market due to the COVID-19 pandemic, gold rose in value from $1,509 to $1,772 an ounce. Likewise, the price of silver has risen 30% in the past two years.
If investing in cryptocurrency or gold or silver bullion seems too risky or complicated, experts recommend investing in stocks tied to these assets. For instance, Tesla’s investment in Bitcoin has the EV maker’s stock tied to the crypto’s value. PayPal has a feature that allows users in the U.S. and U.K. to buy, sell and hold crypto within their platform. And graphics processing unit manufacturer Nvidia’s products are in high-demand with crypto miners, Yahoo Finance wrote.
ETFs and investments in gold mining companies can allow you to take advantage of rising gold prices without the inconvenience of buying, storing and protecting bullion.
More From GOBankingRates
Last updated: October 5, 2021