R. Kiyosaki says Bitcoin may protect wealth only, recommends side hustles ‘as economy crashes’

The author of the personal finance book ‘Rich Dad, Poor Dad’ Robert Kiyosaki, has reiterated his projection of a possible economic crash, warning that wealth is at stake. 

According to Kiyosaki, Bitcoin (BTC) is among assets likely to protect wealth, but he warned in the event of an economic crash, the asset wouldn’t act as a buffer for incomes, he said in a tweet on October 13. 

In this line, the author recommended looking for a side hustle to act as a source of extra income if the economy collapses. 

“Gold, silver, Bitcoin may protect your WEALTH…but not your INCOME. As economy crashes, stock markets go bust, pensions crash and unemployment rises a SIDE HUSTLE may provide you income. Who knows? Your side hustle may grow into the next Amazon or Bitcoin. Take care. Be aware,” he said. 

Caution against real estate investments

At the same time, Kiyosaki cautioned against investing in real estate, noting that taxes are likely to be raised with properties depreciating in value in the wake of hiking interest rates. 

“Why I NO LONGER recommend REAL ESTATE. In my 2022 book Capitalist Manifesto, I stated Marxist took over the US in the 2020 election. Marxists will raise property taxes, impose rent controls, as rising interest rates decrease property values. I recommend gold, silver, Bitcoin,” he said. 

Kiyosaki’s latest view aligns with his long-standing opinion that the economy is bound to crash in the near future, blaming the Federal Reserve policies for containing the skyrocketing inflation.

Potential dollar crash

As reported by Finbold, Kiyosaki has advocated for precious metals, suggesting that the dollar will likely crash in early 2023. However, he pointed out that silver might be a better alternative for the dollar while projecting the metal will rally to $500. 

Furthermore, Kiyosaki opined that trust in traditional finance investment products has been questioned with the global central banks’ initiatives to handle inflation. Consequently, he has termed cash, stocks, and bonds‘ toast’.

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