What Happened: Kiyosaki took to X on Saturday to reiterate his warning about a potential economic downturn.
He compared the situation to a pilot’s bailout in a crashing plane, suggesting that investors could lose money if they don’t know what to do with it as banks fail and the global economy crashes.
“Buy Gold, Silver, Bitcoin,” Kiyosaki advised, adding that these assets could serve as parachutes for investors during the economic downturn. He went on to say, “We are not going in for a soft landing. Unfortunately, the world of fake money is crashing.”
BAIL OUT, BAIL OUT, BAIL OUT: In US Navy Flight School, student pilots learn how to fly and how to crash their plane. Financial losers will lose money because they do not know what to with their money as banks fail and world economy crashes. For many years I have warned, “Buy…
— Robert Kiyosaki (@theRealKiyosaki) February 8, 2024
Sharing Kiyosaki’s bullish outlook on Bitcoin is Geoff Kendrick, head of FX Research at Standard Chartered.
Kendrick thinks that the King Crypto could touch $100,000 by the end of this year, which would be more than twice its current price. He also thinks Bitcoin has the potential to hit $200,000 by the end of 2025.
Why It Matters: This isn’t the first time Kiyosaki has voiced concern about the state of the economy. Just a week earlier, he warned of an imminent market downturn despite upward trends in major indexes.
Additionally, Kiyosaki has been a long-time advocate for including Bitcoin, gold, and silver in investment portfolios. Despite confessing his limited knowledge about Bitcoin, he has expressed confidence in the leading cryptocurrency and gratitude for buying in early.
In light of potential Bitcoin ETF approval, Kiyosaki even amended his Bitcoin forecast, raising his target for the cryptocurrency from $120,000 to $150,000.
BTC Price Action: Bitcoin was trading at $47,312, up by 2.51% in the last 24 hours, according to the data from Benzinga Pro.