Bitcoin takes the forefront as Robert Kiyosaki, celebrated author of the bestselling “Rich Dad Poor Dad,” makes a daring call to global investors. With the revelation of yet another Chinese bank’s collapse, Kiyosaki uses this opportunity to champion the acquisition of what he refers to as “real Bitcoin.”
Kiyosaki’s tweet to his legion of followers underscored the gravity of the situation: “Another giant bank in China went bust,” he declared, shedding light on the precarious state of the world’s largest financial institutions, particularly in China, where mounting bad loans linked to the real estate sector have triggered alarm bells.
Chinese Bank of Communications Co. reported a staggering spike in its property bad loan ratio, catapulting from 2.8% to a concerning 4.99%. Bloomberg’s data further revealed a worrying 23% surge in special mention loans, indicative of an impending crisis in the sector.
Bitcoin Advocacy Over Fake Assets
Drawing parallels to the fragility of the U.S. commercial real estate market, Kiyosaki cautioned against the proliferation of what he termed “fake assets.” With baby boomers heavily invested in real estate investment trusts (REITs) for retirement, Kiyosaki urged them to divest from these shaky ventures.
“Boomer retirement plans are filled with these fake assets,” Kiyosaki lamented, warning of imminent financial ruin as paper assets face the specter of collapse. He implored investors of all ages to abandon fiat currencies and embrace tangible assets like gold, silver, and, notably, Bitcoin.
Kiyosaki’s confidence in Bitcoin’s resilience was unwavering, as he revealed plans to acquire 10 more Bitcoins before the impending halving event in late April. Bolstered by his projection of Bitcoin’s ascent to $100,000 by September, Kiyosaki dismissed doubts about its legitimacy, equating it to traditional fiat currencies in terms of legitimacy.
As global financial markets brace for turbulence, Kiyosaki’s clarion call for a shift towards tangible assets resonates deeply with investors seeking refuge from economic uncertainty. With the collapse of yet another banking behemoth serving as a stark reminder of the fragility of traditional financial systems, the allure of “real Bitcoin” may prove irresistible to those heeding Kiyosaki’s sage advice.