Businessman and author of the personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki has projected a significant market crash and depression, a scenario that will impact several investment assets, including Bitcoin.
Through his Twitter account, Kiyosaki claimed that the crash would be initiated by the continued ‘fake inflation’ initiated by the Federal Reserve and the President Joe Biden administration.
However, he recommended that the crash presents a perfect opportunity to invest in Bitcoin, gold, and silver but cautioned investors to be careful with the current reported inflation.
“FED & Biden pushing FAKE INFLATION. Crash and Depression coming. Gold, silver, Bitcoin, real estate will crash too. Ready to buy more gold, silver, Bitcoin, real estate after crash has crashed. Time to get richer after fake inflation crashes. Be aware. Take care,” said Kiyosaki.
The U.S. is currently grappling with historical inflation levels, and the environment has reignited the debate on the ideal hedge against inflation between gold and Bitcoin.
Amid the inflationary environment, gold prices have surged, but Bitcoin has experienced high volatility.
Kiyosaki’s Bitcoin $1.2 million prediction
However, the author has previously maintained that the asset remains largely untested while projecting that it will hit about $1.2 million in the next five years.
Kiyosaki is on record, stating that he has his bets on Bitcoin, silver, and gold. Earlier on, Kiyosaki had successfully predicted that Bitcoin would surpass the $50,000 mark in 2021 as a result of the U.S. economy’s weakness.
By press time, Bitcoin had plunged almost 3% in the last 24 hours, trading at $48,100.
Furthermore, in line with Kiyosaki’s prediction, Finbold’s previous report indicated that the amount of Bitcoin under the HODL metric attained an 11-month high of 7,224,018.804 as of December 9th.
The data potentially indicates that Bitcoin investors are accumulating the asset taking advantage of the price drop. Price corrections usually present the perfect opportunity for buying any asset with investors hoping to earn more profits when a new all-time high is attained.