Why Kiyosaki says now is the perfect time to invest in crypto

During his radio show in May, “Rich Dad Poor Dad” author Robert Kiyosaki criticized the world’s leading cryptocurrency as having no intrinsic value.

“I trade bitcoins. However, I don’t think it has any merit. I’m just playing the game,” he said.

After four months, the popular author is changing his tune and urged investors to pour money into crypto now.

His reason? A catastrophic market crash is imminent, so investors should buy cryptocurrencies before they replace the US dollar and change the entire financial infrastructure.

When Kiyosaki speaks, people tend to pay attention, at least those who aren’t on the opposite side of the fence about whether or not he’s spouting nonsense.

Kiyosaki believes that Crypto is the answer to a financial disaster

As Markets Insider reports, the financial analyst highlighted – using aggressive capital – the following about the impending financial collapse:

“It’s not enough to WANT to get into crypto… now is the time you NEED to get into crypto, before the biggest financial crash in history.”

Kiyosaki has expressed an interest in “safe haven” assets such as gold and silver as a hedge against severe economic turbulence on several occasions in the past.

Kiyosaki touts crypto as the best defense against a market collapse. Image: Entrepreneur.

However, he has also occasionally referred to Bitcoin in the same language, though usually in a speculative context that shows little interest in the asset’s long-term prospects.

Kiyosaki’s latest warning is in line with current inflation data released on Tuesday. The numbers turned out to be more than the calculations and dragged down the price of Bitcoin and other popular cryptocurrencies, including stocks, as they always seem to do.

In June, the crypto pessimist also provided unconventional advice to investors seeking to beat inflation. To prepare for price increases, he suggested stocking up on canned goods like tuna and baked beans, as well as household items like trash bags and toilet paper.

What other investors and analysts are saying

Meanwhile, Michael Burry, an American investor, hedge fund manager and doctor, identified an unprecedented bubble in asset prices last year and said it would peak in the “mother of all disasters”.

Jeremy Grantham, veteran investor and co-founder of GMO, warned in a research report last week that an “epic super-bubble” in stocks, bonds and real estate was about to burst.

Kiyosaki predicted a prolonged decline, but reaffirmed his belief that bear markets are the best time for investors to get the best deals and earn decent profits.

The financial guru argues that the US currency would collapse the current financial system, paving the way for the mass adoption of cryptocurrencies because it is not controlled by the government.

BTC total market cap at $388 billion on the daily chart | Source: TradingView.com

Featured image from Medium, chart from TradingView.com

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