Amid a wave of optimism that has engulfed the cryptocurrency industry not long after United States President Donald Trump signed an executive order to enable Americans to invest their retirement savings in crypto assets, Robert Kiyosaki has once again praised Bitcoin (BTC).
As it happens, the famous investor, entrepreneur, and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has pointed out the “stock market crash indicators warning of massive crash in stocks,” in a post on his X profile published on August 11.
Why Bitcoin wins
In his view, this is “good news for gold, silver, and Bitcoin owners” but “bad news for Baby Boomers with 401k,” suggesting that the stock market crash he believes will happen soon will lead investors toward safer or alternative assets – like gold, silver, and Bitcoin – to protect their wealth when stocks fall.
Considering that many Baby Boomers rely heavily on their 401(k) retirement accounts, which are often invested mainly in stocks, it means that the impending stock market crash would lead to a significant loss of value for their retirement savings.
As a reminder, Kiyosaki has recently praised the flagship decentralized finance (DeFi) asset for making him millions, referring to it as “pure genius asset design” and comparing it to real estate that took him a lot of hard work, risk, money, time, and sleepless nights just to get to his first million.
Meanwhile, Bitcoin has captured the attention of institutional investors as well, with popular gaming retailer GameStop buying 4,710 BTC in May as part of its new investment strategy and an exceptional show of trust in the future of the original and largest digital asset in the industry.
Elsewhere, BlackRock’s CEO, Larry Fink, earlier this year shared his prediction with the World Economic Forum in Davos that the price of Bitcoin could reach as much as $700,000 per wholecoin because of its potential as a hedge against global inflation.
At the moment, the world’s first crypto asset is changing hands at the price of $119,222, recording a slight drop of 0.26% on the day, but advancing 4.44% across the previous seven days, and accumulating a gain of 0.69% on its monthly chart, per the latest data on August 12.
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