“Get Out of Stocks, Buy Gold and Bitcoin,” Says ‘Rich Dad Poor Dad’ Author

Famous investor and author Robert Kiyosaki has given yet another series of warnings to cryptocurrency investors. First, Kiyosaki warned of the new executive order that was passed in the United States this week. Then Kiyosaki again issued warnings about a future major financial crisis. His recommendation was clear and direct: forget about the stock market and buy metals. And above all, buy Bitcoin (BTC).

Confiscation risk in the US

In a series of tweets, the author of the bestselling Rich Dad Poor Dad shared all his concerns. His biggest fear is about the consequences of the executive order signed by President Joe Biden on Wednesday (9). According to Biden and the government, the law is intended to bring clarity to the market and keep the US an innovator. In fact, the new order was seen with enthusiasm by the market and even went so far as to increase the price of BTC for a few hours. However, Kiyosaki fears that the government could use it to impose a confiscation on citizens’ cryptocurrencies. Somewhat enthusiastically, Kiyosaki aired his fears through a tweet written on Tuesday (10).

“Prediction: Goodbye Bitcoin. Biden is about to sign the executive order that will regulate cryptocurrencies. Next: Fed digital currency. Next: All cryptocurrencies seized and turned into government crypto. “Come on Brandon”, you criminal. You communist,” said the author.

That is, Kiyosaki predicts that the executive order will pave the way for the government to create its own digital asset. Then the government can use it to attack the entire cryptocurrency industry. The inclusion of a “digital dollar” is in fact part of the guidelines set out in the order. Biden has given the Federal Reserve, the US central bank, six months to carry out feasibility studies. The aim is to keep the US as an innovator in the financial system by creating a digital currency. Among the key points of the order are support for cryptocurrencies and the use of blockchain technology, while seeking to reduce risk to consumers and the overall financial system.

New bubble warning

In addition to issuing warnings about the executive order, Kiyosaki returned to his favorite topic: financial crisis. In another tweet, the author said the economy is in a bubble about to burst and asked if his followers have a “plan B” to protect themselves. At the same time, Kiyosaki revealed what his predictions are about what will happen, as well as his plan B. And buying BTC is on the list.

“Do you have a plan B? We are in the biggest bubble in history. Bubble in stocks, real estate, commodities and oil. Future? Possible depression with hyperinflation. My Plan B: Be an entrepreneur. Stay out of the stock market, create assets of your own, use debt as cash, save gold, silver, bitcoin, weapons,” he said.

Kiyosaki’s career has some controversy regarding predictions. On September 26, as CriptoFácil reported, Kiyosaki predicted a major crash in the financial market. According to the author, the fall would occur in October and would affect all assets, including BTC. However, not only did the fall take place, but BTC ended up going the other way around. Less than a month after the “prediction”, the price of the cryptocurrency has risen from $42,000 to over 62,000. An appreciation of more than 45% in that period. Also read: Brazilian Valorant tournament organized via DAO will pay BRL 1,500 in BTC Also read: Russians settle billions in cryptocurrencies in UAE Also read: Kraken will donate fees generated by Russian transactions to Ukraine