Robert Kiyosaki: The Fed is preparing to print money, buy bitcoin

Rich Dad Poor Dad writer and author Robert Kiyosaki urged of Twitter users to buy bitcoin (BTC) in anticipation of a “counterfeit money invasion”.

According to Kiyosaki, after the recent closure of three American banks at once – Silvergate Bank, Silicon Valley Bank and Signature Bank – the US Federal Reserve System (FRS) will start printing dollars to support the “sick” economy.

Kiyosaki Investment Tips

Kiyosaki has repeatedly warned over the past few years that financial markets will collapse, and said that precious metals and bitcoin are the only assets in which funds can be saved. In particular, he predicted the growth of the bitcoin rate to $500,000 by 2025 due to the loss of faith in the US dollar.

The writer has repeatedly criticized the US financial system, stating that he does not trust the administration of US President Joe Biden, the Treasury Department, the Federal Reserve System, and Wall Street.

US authorities urge to remain calm

However, after the collapse of Silvergate Bank, Signature Bank and Silicon Valley Bank, Biden assured American citizens that the banking system is safe.

Biden assured in his address that the taxpayer would not suffer any loss.” Deposits will be available to affected employers and small businesses, while investors and bondholders will not receive similar government support.

Silicon Valley Bank was shut down by California regulators after it failed to cope with a surge in outflows. On Sunday, the New York regulator also closed Signature Bank “to protect depositors.” Both financial institutions overlap with the crypto industry, with Signature Bank working with stablecoin companies and Silicon Valley Bank with tech start-ups and venture capital firms.