Renowned Author Robert Kiyosaki Bullish on BTC, Silver; Predicts Gold Crash

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Renowned Author Robert Kiyosaki Bullish on BTC, Silver; Predicts Gold Crash
Credit: © Reuters.

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  • Kiyosaki foresees gold prices potentially dropping to $1200.
  • According to Kiyosaki, Bitcoin and silver prices will continue to rise.
  • The author expresses expectations for a significant collapse in the S&P 500.

Famous entrepreneur and author Robert Kiyosaki, known for his support of Bitcoin, continues to address questions about the economic crisis he claims will occur in the US. He frequently provides advice to investors on which investment tools to turn to in order to survive this supposed crisis. At the forefront of these investment tools are Bitcoin and silver.

Kiyosaki predicts an economic collapse in the United States and suggests that protection from it could be achieved through Bitcoin and silver. While admitting to not knowing much about Bitcoin, the renowned author maintains his belief in it and doesn’t shy away from highlighting Bitcoin in every piece of advice.

In a recent post, Kiyosaki responded to questions from Andy Schectman, the president of Miles Franklin Ltd. Precious Metals company, about the United States. Answering Schetman’s question, “Who is going to buy US Bonds?” Kiyosaki points out that banks buy gold but do not buy US debt.

Following that, Kiyosaki answers the following three questions: “How will America run without money? How will the world run without money? What will the world do?” In response to these questions, Kiyosaki expresses:

“Gold is going to crash possibly below $1200. Silver will take off as will Bitcoin. Take care. Be careful.”

Kiyosaki’s prediction that gold will drop below $1200 is a bold one. Gold is currently trading at around $1994. For gold to reach the predicted price of $1200, it would need to experience a decline of more than 39%.

While foreseeing a decline in gold prices, the renowned author maintains a positive view on Bitcoin and silver. Kiyosaki confidently states that silver and Bitcoin will rise, concluding his words with a warning to be cautious.

In another post, Kiyosaki predicts a 70% collapse in the S&P 500. He is emphatic on this point, having originally made this prediction in his book ‘Rich Dad’s Prophecy’ years ago. Kiyosaki advises investors to be prepared for this collapse.

Bitcoin’s price gained 1.7% in the last 24 hours, trading at $52,130. Surpassing the critical $1 trillion market value threshold, BTC experienced a more than 5% volume increase in the last 24 hours, reaching a volume of over $40 billion.

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