Robert Kiyosaki, the author of the best-selling finance book ‘Rich Dad Poor Dad' on Sunday said that the banking crisis is "worsening" and as the threat of war grows "Cental banks will push for CBDC, Central Bank Digital Currency, to SPY on us".
What Happened: The solution he offered: "I am buying more Bitcoin BTC/USD and silver coins."
Kiyosaki also revealed what moves he would make if Bitcoin suffered a massive market crash.
The finance author said that he would hold off on making immediate purchases during a market crash, preferring to buy more BTC after the market stabilizes. Kiyosaki views market dips as opportunities for buying assets at a discount.
"I am often asked ‘What happens if Bitcoin crashes?' My reply is the same for Bitcoin, gold, or silver. My reply is ‘I would be happy and I would buy more, once the crashing stops.' All market crashes are assets going on ‘sale,' [which] is my favorite four-letter word."
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Why It Matters: Earlier in February, Kiyosaki said Bitcoin might reach $100,000 by June 2024 while highlighting his concern regarding the high national debt and the current demand for U.S. bonds.
His criticism has often extended to the Federal Reserve. He tweeted, “Don’t Fight the Fed? I say ‘F the Fed.’ Buy gold, silver, Bitcoin.”
Last month, Kiyosaki revealed that his investment portfolio includes 66 Bitcoin. He believes these holdings will become significantly valuable, especially with capital expected to flow into Bitcoin from the exchange-traded funds (ETFs) approved by the SEC earlier in the year.
Meanwhile, the former President Donald Trump in January vehemently opposed the concept of the U.S. developing its own CBDC.
Photo Courtesy: Wikimedia Commons
Price Action: At the time of writing, Bitcoin was trading at $51,523, down 0.08% over the past 24 hours, as reported by Benzinga Pro.
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