2024-3-12 03:30 |
Financial Guru and Bitcoin (BTC) supporter Robert Kiyosaki shared a gloomy prediction about the future of the retiring generation. The author expressed his concerns and suggested that BTC and other assets are the best protection against a potential market crisis.
‘Baby Boomer Bust’ Alarm On: Is Bitcoin The Emergency Exit?Robert Kiyosaki, the author of ‘Rich Dad, Poor Dad,’ has consistently forecasted an unhappy future for the US economy. On his X (formerly Twitter) account, the investor rang the alarms for Americans, especially those in retirement.
The financial guru expressed concerns about the US financial system a month ago. At the time, Kiyosaki warned his 2.5 million followers to “bail out” and called BTC the “parachute” against the seemingly “impending crash” of the banking system.
Last Friday, Kiyosaki reaffirmed this concern after stating that “America is sick.” His message contained both a warning and a reassurance, “Don’t be SCARED: Be PREPARED.”
The investor highlighted that the US’s debt of $34 trillion has been increasing by $1 trillion every 90 days. As a result, he urged his followers to “prepare now” and take care of themselves by buying ‘robust’ assets.
Early on Monday, the warnings continued as the author affirmed that the time to “get real” has come. “Real assets” are the key to protecting investments, he believes. Moreover, Kiyosaki listed the same recurring assets: Bitcoin, silver, and gold.
BABY BOOMERS BUST. Tragically biggest bubble in history will wipe out baby boomers because Boomers are the first generation with flimsy 401ks. Stock market set to crash. Time to get real is now. Buy real assets: gold, silver, Bitcoin before the biggest bubble in history goes…
— Robert Kiyosaki (@theRealKiyosaki) March 11, 2024
In the message to his followers, Kiyosaki foresees an incoming tragic future. “Stock market set to crash,” the post reads.
According to the investor, baby boomers will be the most affected by the crash: “Tragically biggest bubble in history will wipe out baby boomers because Boomers are the first generation with flimsy 401ks.”
Retirement Funds Eyeing Crypto AssetsKiyosaki is not the only one linking retirement funds and digital assets. Previously, Standard Chartered Analyst Geoff Kendrick suggested that a Bitcoin expansion to the 401k market might be around the corner through the newly launched spot Bitcoin ETFs (exchange-traded funds).
Kendrick expects a shift from traditional funds to crypto-based ones, as he anticipates that retirement fund managers will allocate funds to the recently launched ETFs.
Moreover, the Arizona State Senate recently took a crucial step toward expanding retirement portfolios. Arizona is considering including Bitcoin ETFs in its retirement portfolio. The resolution encourages lawmakers to explore the allocation of some of these funds into successful ETFs.
Investment products based on BTC have proved successful among retail and institutional investors, which signals a change in sentiment among traditional investors regarding cryptocurrencies.
The US Securities and Exchange Commission (SEC) ‘s approval of Bitcoin ETFs was a significant step for traditional market adoption. Since the launch of ETFs, giant traditional players have started to consider digital assets like Bitcoin reliable despite their volatility.
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