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“Buy Gold, Silver and Bitcoin While You Can”
©Robert Kiyosaki
Historically, Investing in the stock market has yielded reliable returns. In particular, investing in the S&P 500 has proven to be a reliable and fairly safe investment that can generate significant gains if held for several decades.
Check: ‘Rich Dad’ Robert Kiyosaki Reveals Why 401(k) Is a ‘Horrible’ Retirement Plan
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The initial financial effects of the pandemic sent the U.S. economy into a tailspin in 2020. However, the stock market has staged a strong recovery in 2023. The S&P 500 has jumped more than 24%, according to financial expert and author of “Rich Dad, Poor Dad” Robert Kiyosaki.
However, Kiyosaki is now sounding the alarm about potential financial problems ahead.
“FYI. Bank credit just sold out like it did in 2008. Withdraw money from the banks when you need it. This could be the start of the biggest crash in history. I hope I’m wrong, but this is not the time to play Russian roulette with your life.” Kiyosaki explained in a recent tweet on December 10, 2023.
In another tweet on December 11, 2023Kiyosaki further elaborated by referencing predictions from his book that later came true and reiterated the impending crash of the S&P 500: “Savers are losers” and “Your home is not an asset” came true in 2008. People still laugh at those 1997 predictions. Watch out for my next warning. The S&P is next, which will burn millions of 401ks and IRAs. Take care.”
Kiyosaki’s suggestion? Look to gold, silver and Bitcoin instead.
Learn more: ‘Shark Tank’ Star Kevin O’Leary: My Morning Habit That Keeps Me From ‘Losing Money 100% of the Time’
Gold and Silver Trends
According to World Gold CouncilThe price of gold was around $37.44 per ounce in January 1971. Fast forward to today and gold is valued at around $2,333.55 per ounce as of April 30, 2024. That’s an incredible increase of 6,132.77% over 53 years.
Silver has also proven to be a financial haven for precious metals.
According to Institute of MoneyThe price of silver was $1.55 per ounce in 1971. Fast forward to today and Silver is valued at approximately $26.40 per ounce as of April 30, 2024This represents an increase of 1603.23% over 53 years.
Bitcoin Trends
Bitcoin, the first and largest cryptocurrency on the market today, debuted in 2009 and its value has been quite volatile since its inception, according to US and World News.
According to Crypto.comThe price of bitcoin (BTC) was valued at $0 when it debuted in 2009. In 2021, BTC reached an all-time high price of $68,789.63. Fast forward to today and BTC is valued at $60,356.78 per coin as of April 30, 2024Despite the cryptocurrency’s volatility, its current price represents an unfathomable 60,356,700% increase over the past 15 years.
The story continues
Many people are still cryptocurrency Non-believers either don’t understand the concept or simply doubt the asset’s real value. However, Bitcoin is here to stay and it might just be the next smartest investment you can make.
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This article was originally published on GOBankingRates.com: Robert Kiyosaki: “Buy Gold, Silver and Bitcoin While You Can”