Robert “Rich Dad” Kiyosaki urges: Buy Gold Silver & Bitcoin
It has been hard to miss the recent tweets from Robert “Rich Dad” Kiyosaki — the Vietnam war veteran turned prominent businessman.
The businessman — who is best known for his book “Rich Dad Poor Dad” — has been calling out Wall Street, the government, our central banks, and other institutions every day for the past few weeks.
Kiyosaki did so once again on May 24th, when he noted that the Mall of America is falling behind on its $1.4 billion mortgage, raising the question: “who is not getting paid?
MALL of AMERICA in Minnesota announced it will miss 2nd payment on its $1.4 billion mortgage. An intelligent question is “Who is not getting paid?” Dominos starting to fall. IMF says debt will rise from $6 trillion to $66 trillion by end of 2020. Buy Gold Silver & Bitcoin.
— therealkiyosaki (@theRealKiyosaki) May 24, 2020
Kiyosaki believes that the slowing economy, which will be punctuated by defaults on debts like the aforementioned, will result in growth in the prices of Bitcoin, gold, and silver.
As reported by AZCoin News, he postulated last week that he expects Bitcoin to hit $75,000 in the coming three years, while he also expects the price of gold to almost double within a year and for the price of silver to double in five years.
Fundamental Factors Still Favor Bulls
The fundamentals purportedly favor Bitcoin bulls in spite of the recent drop.
Analysts say that this could be a boost to Bitcoin. Chris Burniske, a partner at Placeholder Capital, explained:
“If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness.”
Adding to this, Mike McGlone — senior commodities strategist at Bloomberg Intelligence — noted that there is growth in the number of active Bitcoin addresses and in the futures market. This suggests growing retail and institutional adoption of cryptocurrency.
Key indicators support #Bitcoin‘s ability to sustain above $10,000. Increasing addresses used, record-high futures open interest and assets under management (AUM) of GBTC support the digital version of gold’s value and the crypto’s similar direction to the advancing metal. pic.twitter.com/jMWw6Cz97u
— Mike McGlone (@mikemcglone11) May 21, 2020
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