Bitrabo Editorial
Bitcoin (BTC) has once again found support from Robert Kiyosaki, the author of the well-known book “Rich Dad, Poor Dad,” amid the unpredictable state of the market. Kiyosaki continues to emphasize the significance of Bitcoin and precious metals as hedging mechanisms.
In a recent tweet, he expressed his unfiltered opinion, predicting a bleak future for the real estate sector and the potentially catastrophic repercussions it may have on the global financial landscape.
Kiyosaki’s words carry significant weight and are valued by investors and individuals seeking insights into the current economic climate.
Robert Kiyosaki. Image: Medium
Renowned Author Forecasts a Severe Economic Downturn in 2023
Kiyosaki advises individuals to consider alternative ways of preserving their wealth during these difficult times in his tweet. He suggests gold, silver, and Bitcoin (BTC) as the best stores of value to safeguard one’s assets amidst the impending economic turmoil.
Greatest Real Estate crash ever. 2008 was the GFC. 2023 will make 2008 GFC look like nothing. In 2019 Office Towers in San Francisco were hot. In 2023 same buildings have lost 70% of value. What will WOKE cities do with office buildings? Homes for the homeless. Get G, S, BC.
— Robert Kiyosaki (@theRealKiyosaki) June 8, 2023
Kiyosaki calls the upcoming crisis the “Greatest Real Estate crash ever”, drawing a comparison between the 2008 global financial crisis and the looming downturn. He maintains that the forthcoming crash will be much more severe than the 2008 crisis.
Bitcoin (BTC) total market cap currently at $513 billion on the daily chart at TradingView.com
The book author further highlights the dramatic fall in value suffered by office towers in San Francisco. In only a few years, these buildings have reportedly lost a massive 70% of their value, raising concerns about the future prospects of such properties. He suggests that providing accommodation for the homeless in repurposed office buildings might be a viable solution.
Robert Kiyosaki Continues to Endorse Bitcoin During Market Volatility
Kiyosaki has a history of issuing stark warnings and promoting Bitcoin’s potential. In April, he expressed his belief that Bitcoin’s value would continue to rise, stating that he “bets Bitcoin will keep going up.” At that point, Bitcoin had already appreciated significantly, climbing from its 2022 low of around $15,500 to a high of $31,000 in 2023.
Kiyosaki’s decision to invest in Bitcoin and precious metals stems from his deep-seated distrust of institutions such as the United States Federal Reserve, the US Treasury Department, and President Joe Biden. His views have influenced his inclination to seek alternative investment options to preserve his wealth.
Source: Coingecko
At the moment, as per CoinGecko, Bitcoin is priced at $26,504. Over the last 24 hours, the premier cryptocurrency has gained just 0.3%. However, in the past week, Bitcoin has lost 2.2% of its value.
Featured image from Getty Images