Rich Dad Poor Dad author Robert Kiyosaki once again predicts that the real estate sector will collapse and cause a severe global financial crisis.
Former best-selling author says that 2023 will see an economic downturn worse than the global financial crisis (GFC) of 2008, caused by an implosion of the commercial real estate market.
Kiyosaki cites San Francisco as an example of the real estate problem, where office buildings have plummeted in value after workers emptied them during the pandemic and have not returned. Kiyosaki advises people that the best store of value to protect your wealth during a downturn is gold, silver, and Bitcoin (BTC).
“The biggest real estate accident in history. 2008 was the CFG. 2023 will make 2008 GFC look like nothing. In 2019, office towers in San Francisco were all the rage. In 2023 the same buildings have lost 70% of their value. What will… cities do with office buildings? Homes for the homeless. Get [gold, silver, Bitcoin].”
He has predicted that major precious metals and Bitcoin will see huge gains by 2025. The impetus for the rise, he said, is an economic collapse forcing the Federal Reserve to print billions to prop up markets, expanding the nation’s debt and eroding the value of the dollar.
“Giant clash is coming. Depression possible. The Fed was forced to print billions in counterfeit money. By 2025, gold at $5,000, silver at $500, and Bitcoin at $500,000. Because? Because faith in the US dollar, counterfeit money, will be destroyed. Gold and silver God’s money. Bitcoin [is the] people’s money. Take care.”
When regional banks collapsed in March, he also drew a comparison to the 2008 financial crisis when banking giant Lehman Brothers filed for bankruptcy.
“Two big banks have crashed. #3 ready to go. BUY real gold and silver coins now. No ETFs (Exchange Traded Funds). When bank #3 turns gold and silver, it goes up like a rocket. 2008 I predicted the collapse of Lehman days before it collapsed on CNN.”
Bitcoin is trading at $26,644 at the time of writing, up 0.7% over the past 24 hours.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock/Bystrov
