Kiyosaki: Bitcoin is a safe haven when the U.S. stock market crashes

Bitcoin is the most direct path to becoming a millionaire

In a recent report from CoinSpeaker, Robert Kiyosaki, the famous author of Rich Dad Poor Dad, believes that Bitcoin (BTC) is the most direct way to become a millionaire. He also believes that the cryptocurrency is a shield against inflation and the impending economic crisis in the United States.

In his most recent X-tweet, he wrote, “Bitcoin is the easiest way to become a millionaire.” He explained that he saved Bitcoin because it did the “hard work” for him. He suggested that while starting a business requires intelligence, dedication, and a little luck, accumulating wealth through Bitcoin is a less complicated process.

His followers echoed his sentiments, emphasizing the decentralized and secure nature of Bitcoin. One user highlighted the immutable nature of Bitcoin’s transaction ledger, which prevents modification or intervention.

In fact, in Kiyosaki's view, Bitcoin has many advantages for avoiding economic turmoil. Its deflationary nature and growing international adoption make it an ideal weapon to protect personal wealth from the pain of a potential currency crisis.

The call is not new for U.S. investors. But it seems more prudent than ever to prepare for the worst by diversifying into cryptocurrencies. It can be argued that Bitcoin is now one of the most reliable options despite its recurring volatility.

US markets could crash

In addition, Kiyosaki warned that the US market could collapse and could escalate into war, with Bitcoin becoming the only viable economic insurance. He blamed President Biden, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell for this potential crisis.

Despite the recent 3% drop in Bitcoin’s price, Kiyosaki remains bullish on its potential and predicts that Bitcoin will reach $100,000 by the end of June. In fact, Kiyosaki wrote on X earlier this week: “I believe Bitcoin will reach $350,000 sometime in 2024, but this is just a goal, a dream, and a wish.”

In addition, Kiyosaki revealed that he avoids saving money in fiat currencies, emphasizing that "savers are losers." In addition, he also revealed that he started saving Bitcoin about 10 years ago and recently expanded to Ethereum.

He also revealed that economic growth has been below average in recent years, with growth rates of only 3.4% in the fourth quarter of 2023 and 1.6% in the first quarter of 2024. Kiyosaki also warned that a wider market crash has begun, stressing that "crashes are the best time to get rich" and urged investors to take advantage of investment opportunities when prices hit bottom.

Legendary Life

Robert Toru Kiyosaki was born on April 8, 1947 in Hawaii, USA. He is a fourth-generation Japanese American. His Japanese name is Kiyosaki Toru.

Robert studied at a university in New York, and after graduation he joined the US Marine Corps, where he served as a carrier-based helicopter pilot and participated in the Vietnam War. After retiring from the military, he attended a navigation school, and then, at the suggestion of his rich dad, he joined Xerox to learn sales skills.

He performed well in his sales job and later quit to start his own business. In 1977, he founded a company that produced the "Surfer" wallet, a wallet made of nylon and Velcro that was very popular among young people. His products were a huge success worldwide, making him rich for a time. However, due to problems with his partners and competition from counterfeit products, his company eventually collapsed.

However, he experienced bankruptcy and debt, but he did not give up his dream of starting a business. He got involved in oil, real estate, publishing and other fields, and gradually restored his wealth. At the age of 47, he and his wife Jin achieved financial freedom and no longer needed to work for money.

After retiring, Robert decided to pursue a career in education, hoping to spread his financial literacy concepts to more people through games and books.

He lived in seclusion in the mountains for two years, focusing on developing games related to financial management. In 1985, he launched the "Cashflow" game, a simulated investment board game that allows players to learn how to manage finances and improve their financial intelligence.

In order to better introduce the concept of this game, he began to write "Rich Dad, Poor Dad", a book about the different money views and wealth secrets he learned from his two fathers.

This book was published in 1997 and caused a sensation as soon as it was launched. It became a global bestseller, translated into many languages, and sold more than 32 million copies. Robert subsequently published "Rich Dad's Investment Guide", "Rich Dad's Cash Flow Quadrant", "Rich Dad's Road to Financial Freedom" and other books related to financial management and investment, forming a "Rich Dad" series.

It can be said that Robert Kiyosaki is a person who dares to challenge and innovate. His financial management theories and educational methods have been welcomed and appreciated by many people.