In a recent interview with Danielle Cambone of Stanberry Research, Rich Dad Poor Dad author Robert Kiyosaki reminds the audience on his previous predictions of a large market crash that can see holders of crypto and precious metals benefit from.
Despite Bitcoin’s recent price volatility, a huge market breakdown of traditional assets would be “good news” for Bitcoin, he said:
“I’m hardcore silver and you know I’m [a supporter] Bitcoin and all this, I’m a hard asset guy.
So [a market breakdown is] good news for us, but it’s bad news for the boomers. Very bad news.”
He continues by noting those who got in early on crypto do not have to fear extreme volatility triggered by a financial meltdown.
“So as my rich dad said to me, ‘A profit is not made when you sell but when you buy,’
And so you always want to be early into the market.
So Bitcoin going up and down. I don’t really care because my entry point [was] $6,000. It’s always your entry point and how many coins do you have.”
According to the author, Gold and Silver are topping his list of preferred assets for having zero counterparty risk, with Bitcoin and Ethereum close behind as they are still outside of the hands of the U.S. Federal Reserve and the global financial system:
“Gold and silver are ‘God’s money.’ There’s no counterparty risk to gold and silver. They’re elements of the periodic table. So God is the counterparty to gold and silver. Bitcoin is a network system, the same as Ethereum, it’s a network outside of the control of the Fed.
So when people say that the Fed is going to shut down Bitcoin and all that, it’s possible, they did that in China. Anything is possible today. So I would just listen to idiots like me.”
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Source: Igaming
