Veteran investor Robert Kiyosaki has once again warned about a major financial collapse, with the European bonds crashing 24%. He added that the investors can save themselves from this emerging crisis, by saving more gold, silver and Bitcoin in their portfolio. Kiyosaki’s bullish trend continues despite the BTC price facing heavy selling pressure and falling under $108,000 earlier today.
Robert Kiyosaki Sees Gold, Silver, and Bitcoin as Safe Havens
In his latest message on X platform, Rich Dad Poor Dad author Robert Kiyosaki issued a stark warning about the global economic crisis that’s brewing. “Europe is toast” writes Kiyosaki, while predicting a bankruptcy for France, and civil unrest in Germany.
According to Kiyosaki, France is on the brink of a major revolt similar to Bastille Day, amid economic strains and potential bankruptcy concerns. He also pointed to significant declines in government bonds, noting U.S. Treasury bonds have dropped 13% since 2020. On the other hand, European bonds are down 24% and British bonds have fallen 32%. “Nothing is safe” he said a few weeks back looking at global market condition.
Besides, the veteran investor added that Japan and China continue to dump U.S. bonds in favor of gold and silver. Robert Kiyosaki believes that Gold, Silver, and Bitcoin could be the right choice in the current market scenario. “This insanity is why I continue to recommend you save your self….and save gold, silver, and Bitcoin,” noted Kiyosaki.
With the American Treasury bonds declining 13% since 2020, Kiyosaki slammed financial planners advocating the traditional 60/40 portfolio split between bonds and stocks.
Gold At Record Highs, Will Bitcoin Follow?
Gold futures have touched a record high at $3,500, while the silver price has touched a 14-year high, amid uncertainty over the Fed rate cuts during the September FOMC.
On the other hand, Bitcoin price continues to face selling pressure, eroding all of its monthly gains for August, and extending losses to more than 15% from its all-time highs. Bitcoin critic Peter Schiff slammed BTC’s underperformance, noting:
“Gold closed at an all-time record high. If Bitcoin is digital gold, why is it more than 13% below its record high? Also, with all the hype, U.S. government support, and corporate buying, why is Bitcoin still 13% lower today than it was at its Nov. 2021 peak when priced in gold?”
On-chain analytics platform Santiment recently suggested that it may take some time for Bitcoin to catch up with gold. The platform noted that ‘buy the dip’ calls are still at a high and that price is unlikely to rebound until the sentiment is bearish, with market participants losing hope.
Last week, banking giant JPMorgan also stated that Bitcoin is undervalued relative to Gold. BTC faces a litmus test for its status as a hedge asset. On the other hand, Bitcoin OG whales have been selling their holdings in a big capital rotation from BTC to ETH recently.
Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.
He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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