​Robert Kiyosaki urges buying more bitcoin amid the crisis

The material is not an investment recommendation and is published for information purposes only.

What’s new? Robert Kiyosaki, an American entrepreneur and author of the bestseller “Rich Dad, Poor Dad,” urged his followers on Twitter to buy more gold, silver, and bitcoins, as “Crash and Crisis just starting.” He also mentioned the recent collapse of three banks, Silvergate, Silicon Valley Bank (SVB), and Signature Bank, and problems with pension programs and individual retirement accounts in the United States.

SILICON Valley Bank -SILVERGATE Bank-SIGNATURE Bank. They went WOKE and went BROKE. Crash and Crisis just starting. Pensions, IRAs, 401ks went WOKE going broke. Buy more G,S, BC. TAKE CARE. — Robert Kiyosaki (@theRealKiyosaki) March 15, 2023

Banking crisis’s impact on cryptocurrencies. As a result of the bankruptcies of Silvergate, SVB, and Signature, the stablecoin market faced problems supporting the peg to the US dollar, the situation was resolved after the Federal Deposit Insurance Corporation (FDIC) presented a plan to compensate depositors of SVB and Signature, and the issuer of the USDC stablecoin managed to access its SVB accounts.

In addition, US-based crypto companies began opening accounts in offshore jurisdictions, and representatives from Circle and Coinbase accused banks of destabilizing the industry. Signature board member Barney Frank believes regulators shut down the bank to demonstrate the toxicity of cryptocurrencies.

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In February, Kiyosaki predicted a massive market crash was imminent, after which the US Federal Reserve System (Fed) would be forced to print billions to support the economy by reducing the value of the dollar. In such a scenario, gold, silver, and bitcoin would rise sharply by 2025, “because faith in the US dollar, fake money, will be destroyed.”

In September 2022, Kiyosaki called for buying cryptocurrencies. He argued that this should be done against the backdrop of the impending collapse of all markets combined with the decline of the economic system. In October, Kiyosaki advised buying bitcoin, gold, and silver and said that the collapse of the dollar may happen in January 2023.

As of March 16, 15:10 UTC, BTC is trading at $24 817, having gained 0,59% per day, according to Binance.