Key Takeaways
- Kiyosaki welcomed another crash in bitcoin, gold, and silver.
- The IMF projected global public debt at 100% of GDP by the decade’s end.
- His March forecast put bitcoin at $750,000 a year after a global crash.
Kiyosaki Reports Buying During Market Declines
Robert Kiyosaki, author of Rich Dad Poor Dad, stated on X on Nov. 4 that he had bought more bitcoin, gold, and silver as other investors panicked. His response to falling asset prices focused on risks he associated with debt and government-issued money. He stated:
“People panicked when gold, silver, bitcoin crash. I bought more.”
Growing global debt, especially in the United States, was the central problem in his assessment. The author criticized political leaders for failing to take the steps he considered necessary to address it. He also characterized fiat currency as a means of taking wealth from people who worked for money and saved their earnings.
Education featured in that criticism through his contention that education taught nothing about money. His emphasis on financial education accompanied his objections to leadership and the monetary system. Together, those concerns formed his explanation for continuing to buy assets despite the declines that had frightened other investors.
Global Debt Adds Context to His Monetary Concerns
The International Monetary Fund (IMF) separately highlighted rising fiscal risks in briefing remarks released Oct. 16. Its global public debt projection put the ratio at 100% of gross domestic product by the end of the decade. The fund called for countries with elevated debt or high risk to begin fiscal consolidation, supported by credible plans and realistic assumptions.
An Oct. 3 statement illustrated how Kiyosaki viewed holding bitcoin and precious metals as financial preparation. Responding to a woman who questioned whether anticipating trouble was pessimistic, he compared financial precautions with carrying car insurance. He asked about her ownership of those assets and expressed a preference for money governments could not print.
That insurance comparison addressed protection against economic disruption, while his February comments focused on entry prices. On Feb. 1, he drew a comparison between market crashes and retail sales, contrasting shoppers who welcomed discounts with investors who sold falling assets. At that point, he described holding cash while waiting to buy more gold, silver, and bitcoin.
Earlier Purchases and Post-Crash Price Targets
A subsequent statement supplied a specific example of that buying approach. On Feb. 20, Kiyosaki disclosed buying one bitcoin for $67,000 as its price fell. He linked the purchase to expectations that U.S. debt would weaken the dollar and prompt the Federal Reserve to create more money.
By March 16, his post-crash cryptocurrency forecast put bitcoin at $750,000 and ethereum at $95,000 one year after a global financial crash. The same scenario included gold at $35,000 per ounce and silver at $200. Returning to the prospect of another decline on Nov. 4, he stated:
“Can’t wait for the next crash of gold, silver, bitcoin.”
