The author of the “Rich Dad Poor Dad” personal finance book series, Robert Kiyosaki, says he believes that Bitcoin will surge to $75,000 as the US economy withers amid the global pandemic.
In a viral tweet, Kiyosaki says he’s betting on hard assets like gold and Bitcoin to prepare for a possible economic meltdown due to misguided government policies.
“ECONOMY [is] dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.”
The latest data supports the author’s assessment that the economy is not faring well. In April, retail sales fell a record 16.4% while manufacturing output posted a record-breaking 13.7% decline.
Meanwhile, the Federal Reserve expects the US economy to tank by the end of the second quarter. Investment analyst Sebastian Sienkiewicz explains that the central bank looks at key monthly economic data to forecast a 48.07% annualized plunge in the US GDP in the second quarter of 2020.
Kiyosaki has been sounding the alarm over the economy since the pandemic erupted. Last month, the author and entrepreneur said the US government is printing $10 trillion in order to save the country. Kiyosaki added that Bitcoin will go parabolic once the US dollar enters bear territory.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Paolo Omero
