Robert Kiyosaki Warns Of A Bitcoin Crash To $5,000: Here’s Why

Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has issued a stark warning about an impending financial crisis that he believes will lead to a significant market downturn, including a potential Bitcoin crash to $5,000 per coin. In a post on X today, Kiyosaki elaborated on his views regarding the current economic climate, drawing parallels to the 2008 Global Financial Crisis (GFC).

Why Bitcoin Could Crash To $5,000

Kiyosaki revisited the events of 2008, referring to the GFC as a pivotal moment 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 argued that these measures were taken to save “their ultra-rich friends,” while the general public was left to suffer the consequences.

Related Reading

According to Kiyosaki, the massive influx of newly printed money led to what he describes as “The Everything Bubble,” a phenomenon where all markets began to rise artificially, “floating on a sea of fake money.” He believes that this bubble is unsustainable and is on the verge of transforming into “The Everything Crash.” He warns that “everything will crash, including gold, silver, and Bitcoin,” suggesting that the market is approaching a critical point akin to a “blow-off top.”

Kiyosaki emphasizes that this impending crash could be detrimental for most people, potentially leading to a global depression that was narrowly avoided in 2008. He urges individuals not to be complacent or comfortable in what he considers a “fake bubble,” and to instead prepare for the forthcoming economic downturn.

He points out that prominent investors are already taking action by selling “overpriced” assets and converting them into cash. The best-selling author cites Warren Buffett as an example, noting that Buffett has reportedly been selling his Apple shares and accumulating large reserves of US dollars.

Related Reading

Despite the grim outlook, Kiyosaki sees the anticipated crash as an opportunity for those who are prepared. He encourages people to take proactive steps, even if they currently lack financial resources. “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,” Kiyosaki remarked.

Specifically regarding Bitcoin, Kiyosaki predicts that the cryptocurrency could plummet to $5,000 during the crash. However, he also forecasts a dramatic rebound, with Bitcoin potentially soaring 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 stated.

Throughout his post, Kiyosaki maintains a critical stance toward the Federal Reserve and the US Treasury, whom he accuses of perpetuating a flawed financial system that benefits a select few at the expense of the majority. He concludes, “I want you to be one of the rich…not one of the victims of the criminal Fed and Treasury.”

At press time, BTC traded at $65,657.

Featured image from YouTube / Dad Saves America, chart from TradingView.com