Robert Kiyosaki, the famed investor and author of the popular “Rich Dad” personal finance books, is another finance expert now speaking out in support of cryptocurrency, along with silver and gold.
In several tweets over the previous few weeks, Kiyosaki promoted his preference for these three investments, even saying to his fans to, “Get silver, gold Bitcoin, and ethereum before the biggest crash in world history.”
US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande Chinas biggest property developer with 800 projects in 200 cities out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history. Take care.
— therealkiyosaki (@theRealKiyosaki) September 23, 2021
He later said via Twitter that he did not plan to sell his bitcoin, silver, or gold investments, as he has “lots of cash.” However, he even revealed an exact date for this prediction, making timing important.
Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful
— therealkiyosaki (@theRealKiyosaki) September 26, 2021
While his views might seem fringe — or even somewhat alarmist — his thoughts about crypto might be worth considering. In spite of 32 hacks this year so far, leading to investors losing $2.99 billion, and two of the largest hacks in cryptocurrency history happening within the previous three months, coins like Bitcoin and Ethereum have gone up steadily in value. Bitcoin hit $50,000 USD just today.
Likewise, some well-known investors are diversifying their portfolios using gold. Palantir Technologies, led by Peter Thiel, recently bought $50 million in gold as a hedge against inflation. Yahoo Finance stressed that in the first part of 2020, with uncertainty on Wall Street because of the Covid pandemic, gold went up in value from $1,509 to $1,772 per ounce. Likewise, the value of silver has gone up 30% in the previous two years.
If investing in crypto, silver, or gold bullion seems too risky or hard, experts say investing in stocks connected to these assets might be a good idea. For instance, Tesla’s Bitcoin investment has the EV maker’s stock connected to crypto’s value. PayPal has a feature that its users can use to buy, sell and keep crypto on its platform. And GPU manufacturer Nvidia’s products are being used in the world of crypto.
Also there are ETFs and investments into gold mining companies that will allow you to take good advantage of increasing gold prices without the inconvenience of storing the yellow metal itself.
Author: Scott Dowdy