Robert Kiyosaki, author of the personal finance book “Rich Dad, Poor Dad,” has reiterated his pessimistic outlook on the world economy amidst widespread concerns of an imminent recession.
Indeed, Kiyosaki has described the global economy as ‘the largest bubble in history,’ adding to his pessimistic long-term economic forecast, he tweeted on November 25.
Intriguingly, the author admits that he does not invest in things like stocks and bonds while urging investors to abandon paper assets.
“Many of you are aware I do not invest in stocks, bonds, ETFs, or mutual funds. Please IGNORE the following statement: “I would liquidate my paper assets.” The international economy is not a market. I consider the economy to be the largest bubble in the history of the globe. He said, “May God have pity on us all.”
Notably, the global economy has been significantly influenced by the prevalent macroeconomic conditions, which have been driven by rising inflation and interest rates. Notably, the repercussions have now expanded to the cryptocurrency markets.
Despite this, Kiyosaki has remained positive on Bitcoin and precious metals, claiming that the items may emerge stronger if the economy collapses.
In the meanwhile, the crypto market has suffered a knock due to the collapse of the FTX exchange, but Kiyosaki has emphasized that Bitcoin (BTC) and Ethereum (ETH) have the potential to recover in the future.
In addition, Kiyosaki has projected that the value of the first cryptocurrency might reach $1 million in five years, but he prefers gold.
In light of Kiyosaki’s optimism over Bitcoin’s future, the author asserts that the asset revolution will be greater than the gunpowder revolution.
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