Author Robert Kiyosaki has raised an alarm about the potential collapse of the world’s financial system, advocating Bitcoin (CRYPTO: BTC) as a possible safeguard against the impending crisis.
What Happened: Kiyosaki, best known for his finance book “Rich Dad Poor Dad,” has voiced his apprehensions about the stability of the global financial system on X.
Kiyosaki’s concerns are not centered on Bitcoin, as some critics might suggest, but rather on the US Dollar and the US Banking System, beginning with the Federal Reserve. He borrowed the term “banksters” from podcaster Gerald Celente to describe those in charge of American banks.
“I predict a collapse of our financial system. Please protect your self from the banksters. Buy real gold, silver, and Bitcoin,” he posted on X.
As evidence of this “scam,” Kiyosaki highlighted the 2023 bank collapse, during which the U.S. government and the Federal Reserve rescued failing banks by printing billions of dollars. He asserts that those responsible should be held legally accountable.
The finance guru warned that the Federal Reserve’s “criminal enterprise” cannot sustain indefinitely and anticipates a looming collapse of the U.S. and global financial systems. Given this scenario, Kiyosaki recommends investing in Bitcoin, physical gold, and silver as safe-haven assets.
Despite his endorsement of Bitcoin, Kiyosaki advised against investing in Bitcoin ETFs, branding them as “bankster’s money” and underlining the significance of owning actual Bitcoin. At the time of writing, Bitcoin is trading at $84,972.
Why It Matters: Kiyosaki’s warning comes at a time when global economies are still grappling with the financial implications. His advocacy for Bitcoin and other safe-haven assets underscores the growing acceptance of cryptocurrencies as legitimate and potentially stable investments.
However, his caution against Bitcoin ETFs highlights the ongoing debate about the authenticity and security of such financial products. As the world braces for potential financial turbulence, Kiyosaki’s advice offers a perspective on alternative investment strategies.
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