Renowned author and financial educator Robert Kiyosaki has warned about an impending economic downturn, referring to it as a “bad hand.”
In an X post on July 11, Kiyosaki highlighted the severity of the situation, stating that the downturn is impacting millions.
In the post, the author highlighted several indicators of wealth preservation amid the projected economic downturn. For instance, the investor known for his personal finance book ‘Rich Dad Poor Dad’ pointed to Bitcoin’s (BTC) rising price as a signal of significant movements in the financial markets.
He suggested that institutional investors are increasingly turning to the cryptocurrency as a hedge against traditional market volatility.
“BAD HAND Coming: In my previous tweet I stated success comes to those who know how to thrive when delt a bad hand. The bad hand is being delt now. Millions will lose. Please don’t be one of the losers. Bitcoin is rising in price as Wall Street loads up on Bitcoin. This is your time to turn a bad hand into a great hand. Buy more gold, silver, and Bitcoin,” he said.
Wealth protection
In light of the anticipated economic turbulence, Kiyosaki urged individuals to take proactive measures to protect their assets. He advocated for investing in Bitcoin, gold, and silver.
Kiyosaki’s call to action reflects his long-standing belief in the importance of diversification and holding assets less susceptible to inflation and economic downturns. Gold and silver, often considered reliable stores of value, have historically performed well during financial instability.
Despite its volatility, Bitcoin has been increasingly viewed as digital gold, offering a decentralized alternative to traditional financial systems.
The financial expert’s warning comes amidst growing concerns about global economic conditions, including rising inflation rates, geopolitical tensions, and the potential for market corrections.
Indeed, as previously reported by Finbold, Kiyosaki has warned that investors should brace for one of the largest crashes in history. Notably, the author has maintained that individuals should consider precious metals and Bitcoin to safeguard wealth.
In this vein, Kiyosaki has sustained a bullish stance on Bitcoin, noting that the next rally could elevate the cryptocurrency to a valuation of $1 million per coin.
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