World renowned bestselling author Richard Kiyosaki is warning of the world’s biggest crash coming, and is recommending Bitcoin as one of the ways one can prepare for the worst.
Here’s why the Rich Dad, Poor Dad author is recommending the top cryptocurrency by market cap – and what the world’s biggest crash might entail.
The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and Bitcoin while you can. Take care.
— Robert Kiyosaki (@theRealKiyosaki) June 28, 2021
Kiyosaki: The Best Time To Prepare Is Before A Crash
The economy is on thin ice. Supply shocks across commodities and consumer goods are causing inflation across the globe, and the only thing supporting markets is the ongoing stimulus efforts from central banks and governments. But what happens when the balancing and juggling act stops, and it all comes crashing down?
That’s what Richard Kiyosaki, author of the bestselling finance book Rich Dad, Poor Dad, is warning about. Kiyosaki says that the “world’s biggest crash” is coming, and the time to prepare for it is now – not when it is here.
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The recent crypto market crash is an ideal example. Most of the market never saw it coming, yet in hindsight was obvious. Sentiment was exuberant, the leading cryptocurrency by market cap was up 200% on the year, and was stuck without making new highs for nearly two full months.
Preparing for the crash in mid-April could have prevented significant losses come May – which is now one of the bloodiest months on record. But how can one prepare for such a cataclysmic collapse that could impact the entire global economy? Buy Bitcoin, of course.
How will Bitcoin withstand a global crash? | Source: BTCUSD on TradingView.com
Prepare For World’s Biggest Crash With Bitcoin, Gold, And Silver
Kiyosaki again is advocating the investors load up on Bitcoin, gold, and silver. The author has been promoting the three scarce assets for several years now, and his bet on Bitcoin was accurate – while gold and silver have been stagnant since mid-last year.
The once hot metals cooled off when stimulus money flooded markets and pushed investors to growth over value. But with risk rising, there’s been a rotation of capital from growth to value and gold and silver could soon shine as a result.
Related Reading | The Bitcoinist Macro Report: Dollar Disrupts, Gold Melts Down, & Sideways BTC
Bitcoin’s position in all of this is a lot less clear, with the speculative cryptocurrency having risen so sharply alongside stocks and other growth assets. In a rotation to value, does BTC get left behind, and that’s the real reason for the recent downtrend?
If the stock market were to suffer a major crash, trillions of dollars could potentially come looking for another place to park capital and it could result in another leg up for crypto – but only for those that prepare now like Kiyosaki suggests.
Featured image from iStockPhotos, Charts from TradingView.com
