Robert Kiyosaki Says Buy Bitcoin to Protect from USD Collapse | Coinspeaker

Robert Kiyosaki Says Buy Bitcoin to Protect from USD Collapse

Bhushan Akolkar By Bhushan Akolkar Julia Sakovich Edited by Julia Sakovich Updated 3 min read
Robert Kiyosaki Says Buy Bitcoin to Protect from USD Collapse
Photo: Gage Skidmore / Flickr

Robert Kiyosaki has recently been very critical about the state of the US economy going ahead. Kiyosaki predicts a major crash in the US market over the coming time.

Robert Kiyosaki, the author of Rich Dad Poor Dad, has once again advised his followers to buy Bitcoin along with Gold and Silver while predicting the collapse of the US dollar. He also cites the threat emerging from BRICS nations who are reportedly working on a gold-backed stablecoin.

In his recent tweet on X, Kiyosaki said that he’s currently in South Africa and has been curiously watching all the key developments taking place in the region. He also said that there have been strong talks regarding the BRICS nations developing a cryptocurrency, possibly backed by Gold.

Kiyosaki believes that the introduction of such a currency could possibly lead to a massive influx of USD back to America, which could potentially trigger hyperinflation, and ultimately the collapse of the US Dollar.

In response to these concerns, Kiyosaki advises investors to hedge against currency devaluation by diversifying their portfolios. He recommends purchasing assets such as gold, silver, and Bitcoin as a means of protecting oneself from the potential repercussions of a US dollar crash.

Robert Kiyosaki has recently been very critical about the state of the US economy going ahead. Kiyosaki predicts a major crash in the US market over the coming time. He also warns about a DEPRESSION-like scenario and says that it’s better to prepare for the worst.

BRICS Preparing for USD Alternative

Last week, a Russian IMF representative stated that the BRICS nations are all set to provide an alternative to the US dollar. In a Friday interview with RIA Novosti, Russian IMF representative Alexey Mozhin highlighted the increasingly evident flaws in the current financial system. Novosti said:

“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods.”

Note that the US dollar is still the world’s reserve currency, and its collapse is unlikely to be an overnight event in the market. However, top economies and US rivals like China have been on a massive gold-accumulation spree over the past few months.

In his recent tweet, Elon Musk drew a comparison between the Federal Reserve and a rule from the Monopoly game, suggesting that similar to the game bank, the Fed is incapable of going bankrupt and can continuously generate more money. This analogy has sparked conversations about monetary policy, especially in light of the anticipated return of quantitative easing (QE).

Crypto investor Michael van de Poppe said that QE to begin very soon following the summer break. Thus, he advised investors to buy Bitcoin, Gold, and Silver.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Bhushan Akolkar on X

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