Robert Kiyosaki, the author of the best-selling book “Rich Dad Poor Dad,” said we’re already in a ‘technical depression’ and added that he’s using these gold, silver, and Bitcoin to protect himself from the pain.
As the S&P 500 back near all-time highs, the stock market is mostly shrugging off inflation and Omicron concerns. But “Rich Dad Poor Dad” author Robert Kiyosaki says danger still remains.
In an interview with Stansberry Research earlier this week, Kiyosaki pointed out that the eurodollar yield curve is now inverted (shorter-maturity debt has a higher yield than longer-maturity debt), which has historically meant that “something bad is happening.”
“It was followed by Lehman Brothers; it was followed by COVID,” he said.
Definitely, it’s not the first time that Kiyosaki has sounded the alarm. The famous author of the “Rich Dad Poor Dad” has warned about a crash several times. In June, he said that the “biggest crash” in the world’s history is coming. In September, he reiterated his warning, expecting a “Giant stock market crash” in October. He then warned about the US sliding into a depression.
But the author isn’t backing down from his ultra-bearish stance. Based on inflation versus growth numbers, Kiyosaki claimed that we are already in a “technical depression.”
Amid his gloomy predictions, Kiyosaki recommends buying Bitcoin alongside gold and silver. In August, he said Bitcoin is the investment with the greatest upside. In October, he said Bitcoin has a “very bright” future. Finally, in November, he revealed that he was buying more Bitcoin and ether as inflation concerns intensified.
If you’ve followed the price of Bitcoin over the last few months, you know that crypto investing isn’t always smooth sailing. After soaring above $68,000 on November 10, Bitcoin has fallen back to around $50,000. That said, long-term holders, such as Kiyosaki, are not complaining as the world’s largest cryptocurrency price is still up more than 100% over the past 12 months.
“Bitcoin going up and down? I don’t really care because my entry point is $6,000,” Kiyosaki said during the interview.
Investors can buy Bitcoin directly. Also, some companies that have tied themselves to the crypto market present another option to capitalize on the crypto boom. For example, software technologist MicroStrategy has built a stash of 122,478 BTC. Likewise, electric vehicle giant Tesla holds around 43,200 BTC.