The author of the bestselling book “Rich Dad Poor Dad,” Robert Kiyosaki, published a post in which he stated that he was not confident in the future of gold and expected the growth of Bitcoin and silver.
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Kyosaki's forecasts
“Andy Schectman asks a very important question. “Who will buy American bonds?” Banks buy gold, not American debt. How will America live without money? What will the world be like with money? What will you do without money? Gold may fall, perhaps even below $1200, silver will rise, as will Bitcoin. Take care of yourself,” wrote Kiyosaki.
Andy Schectman asks a very important question. “Who is going to buy US Bonds?” Banks are buying gold not US debt. How will America run without money? How will the world operate with money? What will you do without money? Gold is going to crash possibly below $1200. Silver will…
— Robert Kiyosaki (@theRealKiyosaki) February 14, 2024
According to Bloomberg, as the price of the first cryptocurrency grew due to significant investments in Bitcoin by exchange-traded funds (ETFs), funds investing in gold faced an outflow of funds. The 14 leading gold ETFs have lost $2.4 billion since the beginning of 2024.
Reminder
Inflows into Bitcoin ETFs increase for 14 consecutive trading days. According to SoSoValue, on February 14, the total inflow of funds into Bitcoin ETFs amounted to $339 million. The total inflow of funds into 10 Bitcoin ETFs is estimated at $4.23 billion.
In an interview with Kitko News in early February, Robert Kiyosaki said that with the launch of a Bitcoin ETF, money from pension funds is pouring into the market.
“I am watching with interest the influx of funds into Bitcoin ETFs and wondering where this is going market. Longer money is coming into play – doesn't this mean crypto is becoming more stable? – Kiyosaki said. — With the launch of ETFs, a lot of money from pension funds is pouring into the market. This is a huge influx, which should increase the value of cryptocurrencies.”
Kiyosaki also noted that he himself would not invest in a Bitcoin ETF because he does not trust any assets that can be “printed.”
Over the past few years, Kiyosaki has repeatedly argued that financial markets are at risk of collapsing and has stated that precious metals and Bitcoin are the only assets in which funds can be saved. In 2021, Kiyosaki twice warned investors about the biggest crash in history and called for buying more bitcoin, gold and silver.