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HomeCrypto NewsMarketRobert Kiyosaki Taps Bitcoin Over a Diversified Stock Portfolio - Here's Why

Robert Kiyosaki Taps Bitcoin Over a Diversified Stock Portfolio – Here’s Why


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It follows the author’s prediction of a potential economic depression.

Robert Kiyosaki, author of “Rich Dad Poor Dad,” has recommended investments in Bitcoin, gold, and silver over a diversified stock portfolio.

The investor made his stance known in a tweet yesterday, asserting that investing in stocks, bonds, and exchange-traded funds (ETFs) is “very risky” in times of uncertainty.

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Notably, it follows his prediction of a potential economic depression. According to the author, people will lose faith in the dollar as the Fed continues to print billions. Consequently, he believes that people, in response, will flee to gold, silver, and Bitcoin, predicting a $500,000 price for Bitcoin by 2025.

Meanwhile, Kiyosaki is not the only analyst predicting an economic crash. Michael Burry, famous for predicting the 2007 housing crash, for months has also been calling a stock market crash similar to the dot com bubble in the early 2000s. The analyst taps continued rate hikes as the precipitating factor asserting that recent market rallies are not sustainable.

Notably, both causal effects highlighted by these analysts are in play.

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For one, after increased spending spurred by the coronavirus pandemic that led to record inflation, the U.S. government recently approved a $1.7 trillion spending budget. In addition, the world power is looking to raise its debt ceiling, indicating more spending and money printing.

At the same time, strong job numbers and unyielding inflation have also encouraged the Fed to keep raising rates with a target of nearly 5%.

Notably, the Fed’s rate hikes in response to inflation saw equity and crypto markets print significant losses in 2022 as consumers were less inclined to spend and invest. However, the markets have rallied this year. For example, Bitcoin is already up about 48.5% year to date, trading for $24,578.91 at the time of writing.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Okoya David
Okoya David
Okoya David Kio is a crypto enthusiast passionate about understanding what makes the nascent market tick. When he's not pondering about cryptocurrencies, you might find him in a BP debate room trying to proffer solutions to age-old societal problems.

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