Financial Writer Puts Red Alert On Bitcoin And Ethereum, Another Crash Is Coming
Robert Kiyosakiauthor of Rich Dad Poor Dad, warned of another crash that could affect Bitcoin and Ethereum. He also revealed that he will be hoarding these crypto assets as they will ultimately provide a safe haven during a crisis.
Kiyosaki Goes Open on Bitcoin and Ethereum, Amid Crash Warning
In an X postfinancial writer revealed that he was hoarding gold, silver, Bitcoin, and Ethereum as he prepares for a stock market crash. He also pointed out that this accident will be the biggest in history. He also suggested that those who hold BTC, ETH, and precious metals will receive significant gains when this crash occurs.
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Kiyosaki also revealed that he is bullish on BTC and is buying more as the price declines amid the current crypto market downturn. He noted that Limited supply of Bitcoin offers a limit, as there will only ever be 21 million BTC, and most of this supply has already been distributed. This limited supply may lead to significant price increases as demand may exceed supply during a possible stock market crash, as the author predicts.
Kiyosaki has indicated that he will buy more BTC as people panic and sell into the coming crash. He added that the market crash is a valuable commodity for sale, suggesting that investors should look to buy Bitcoin and Ethereum as their prices fall during this bear market.
It is worth noting that Kiyosaki had predicted that earlier Bitcoin can reach $1 million in 2030. He suggested at the time that the leading crypto could reach this target during a possible economic collapse. The financial writer has also mentioned many times how the government continues to print more money, making those who hold fiat suffer.
Bitcoin Over Gold
For another X postKiyosaki said he would choose Bitcoin over gold if he had to choose only one asset. He noted that gold is unlimited and that if the price goes up, gold miners will dig more, thus increasing its supply. On the other hand, the writer noted that Bitcoin supply reached 21 million, meaning that miners will not be able to increase supply once they reach this limit.
He added that this means that Bitcoin price it should only continue to rise as demand outstrips supply. Like BTC, Ethereum could also see supply congestion as the majority of altcoin supply continues to be held. An on-chain analytics company Sentiment is expressed that Ethereum’s proof-of-stake contract address now holds more than half of the ETH supply for the first time in the coin’s history.
At the time of writing, the price of BTC is trading at around $66,800, down from the last 24 hours, according to the report. data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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