The entrepreneur and author of Rich Dad Poor Dad, Robert Kiyosaki, predicts that Bitcoin could collapse again.
He said so in a tweet in recent days:
Bitcoin crashing. Great news. When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.
— therealkiyosaki (@theRealKiyosaki) May 30, 2021
As can be read, according to the entrepreneur, the fact that Bitcoin is collapsing is “great news”. He even adds that he expects the price to reach $27,000, at which point he might start buying “again”. This again confirms that Robert Kiyosaki has bought Bitcoin before.
He adds that a lot will also depend on environmental conditions, echoing the debate about Bitcoin’s impact on energy consumption. But he also adds that the real problem is not Bitcoin, or gold or silver, but the incompetence in government, at the Fed and on Wall Street. Words that suggest that he does not agree with this monetary policy based on an injection of liquidity that can only lead to the devaluation of money.
He concludes thus:
“Remember gold was $300 in 2000”.
Today, gold is worth about 1,900 dollars, which indicates how assets considered to be a store of value are destined to grow in the long run. Just like Bitcoin.
Robert Kiyosaki’s tweets about Bitcoin
This is not the first tweet of its kind. Back on 14 May, he said that the fact that Bitcoin was collapsing was good news and repeated the concept that the problem is the policies of the Fed, the government and the Treasury. In short, the problem is not Elon Musk’s tweets, which have also moved the market at will.
Even on 25 April, he said he was excited about the collapse of Bitcoin and announced that he had bought more.
His policy was hinted at in a tweet on 17 April in which he said it was necessary to set aside gold, silver and Bitcoin. He predicted in those days that there would be the biggest crash in history and a period of depression and so wondered what the Fed would do at that point. Ironically:
“Print more money?”
Because it is clear that after having already printed 3 trillion dollars, printing yet more trillions increases the risk of inflation.
And at that point, it will be useful to have gold, silver and Bitcoin.
Since April, Bitcoin has gone from $65,000 to the current $37,000, with a low peak that went close to $30,000, and then recovered.
Those who have been in the industry for a while expected such a correction, because Bitcoin’s rise from 10,000 in October to 65,000 in April was too sudden. A reversal was therefore expected, plus those who entered on the wave of hype have panic sold, contributing to the fall in price.
But others took the opportunity to increase their positions or to hold and trust in a further rise in the price, driven by the macroeconomic reasons that Robert Kiyosaki also mentioned.