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‘Rich Dad’ R. Kiyosaki urges to buy Bitcoin as ‘insurance against corruption’

‘Rich Dad’ R. Kiyosaki urges to buy Bitcoin as ‘insurance against corruption’

Amid growing fears, Robert Kiyosaki has repeated his warnings about a possible massive recession looming in the United States, as well as rising corruption, while urging his followers to invest in gold, silver, and Bitcoin (BTC) as the optimum insurance policy against these problems.

Specifically, the author of the best-selling personal finance book ‘Rich Dad, Poor Dad’ believes that the country is in for a ‘crash landing’ amid high corruption and incompetence, hailing the above assets as the best hedge against it, as he explained in a tweet shared on May 18.

Numerous warnings

Indeed, Kiyosaki had previously slammed the US government, as well as the United States dollar, calling it “toilet paper” and “fake money” that would come back as a tidal wave and economic tsunami upon America and contribute to the end of the American Empire, as it loses its role as the world’s reserve money.

On top of that, he has long been warning about the devastating effects of rising systemic inflation, increasing oil costs, and the government’s push toward greener energy policies on the American middle class, which he believes could potentially disappear, advocating for Bitcoin, gold, and silver as a cushion against the economic downturn.

Bitcoin price analysis

Meanwhile, the flagship decentralized finance (DeFi) asset was at press time changing hands at the price of $26,877, representing a 1.77% decline in the last 24 hours but a 2.10% gain in the previous seven days, as per the latest data retrieved on May 19.

Bitcoin 7-day price chart. Source: Finbold

Earlier, Finbold reported on Bitcoin’s failure to surpass the critical resistance level at $28,000, which some analysts believe is the consequence of profit-taking by investors who had purchased the cryptocurrency at the price of $28,600.

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