Robert Kiyosaki – author of the best-selling book “Rich Dad, Poor Dad” – once again spoke about Bitcoin. This time he stated that after the end of the COVID-19 pandemic, there would be a market crash.
Robert Kiyosaki: As soon as the vaccine comes out, it’s over
The idea behind Bitcoin is that it is a tool that has the potential to secure our assets against inflation and other difficult economic situations. One such situation is the COVID-19 pandemic, which began six months ago and has been a huge global problem ever since.
From then on, the financial markets began to decline. Both stocks and Bitcoin itself suffered. The currency briefly fell from $ 9,000 to $ 3,000, then returned to $ 5,000. Eventually, after about two months, the oldest cryptocurrency returned to its previous state.
Even so, Kiyosaki is not convinced Bitcoin will do this well all the time. He recently stated in a series of tweets that BTC is doing well right now as it is a tool used during the crisis. But when there is a vaccine and the pandemic is over, BTC will experience a crash again.
According to Kiyosaki, one of the main reasons for Bitcoin’s collapse will be that, once the COVID-19 pandemic is over, the United States will have huge debts to pay. Ultimately, it will have a negative impact on the BTC price.
United States debt. United States Bankrupt. $ 28 trillion in balance sheet debt. $ 120 trillion of off-balance sheet welfare obligations… What happens when a vaccine is discovered? Gold, silver and bitcoin will crash. Opportunity to buy. The real problem is not a pandemic. The real problem is huge US debt… Gold, Silver, Bitcoin are the best long term investments.
– claims the author of the bestseller.
Kyiosaki prefers precious metals again
Kiyosaki’s words are interesting, mainly due to his change of position regarding gold and silver. Previously, he named BTC “the best investment tool”, and is now elevating precious metals again.
According to Kiyosaki, even if Bitcoin collapses, the situation does not necessarily lead to serious problems. It will be a rather interesting period for both experienced and new investors. He believes that decreases will give people the opportunity to buy at lower prices, which in turn will lead to increases again.