Robert Kiyosaki recently tweeted his opinion that mortgage banks are on the ropes and he expects more banks to fail in the United States due to inflation. In addition, he emphasized that Bitcoin would soon hit the $500, 000 price level.
According to the report, the popular bitcoin advocate and “Rich Dad Poor Dad,” financial management book crooner, Robert Kiyosaki, has yet again shared his financial opinion with his Twitter followers. He pointed out that the mortgage bank crisis is not yet over.
Despite the promise of the Federal Reserve Chairman to stop raising the interest rates in the United States, Kiyosaki still believes inflation will continue to prevail. And as such, he predicted that more mortgage giants are on the ropes, liable to fall before 2023 folds up.
Following the recent ripples of major banks collapsing in America, Kiyosaki revealed via his tweet that more banks will likely fall and also hinted at a particular bank that is rumored to be on the line to collapse next.
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Kiyosaki Expects More Mortgage Crisis
After a recent string of major U.S. banks failing, Kiyosaki suggested that more banks may likely faill soon. He hinted that the LoanDepot mortgage bank is currently in a weak position and if care is not taken, the bank might eventually fail.
LoanDepot is a California-based non-bank custodian established in 2009 and popularly known for offering mortgage and non-mortgage lending services and products.
As though remembering his followers about the mortgage bank collapse that occurred in 2008/2009, Kiyosaki tweeted that mortgage firms and regional banks are failing.
Hence, he urged his followers to be cautious and not to rely on the recent claims of Chairman Jerome Powell of the Federal Reserve or Janet Yellen, the Treasury Secretary.
As a reference, he pointed out Silver Gate Bank, Signature Bank, and Silicon Valley Bank, the three giant mortgage and crypto-friendly banks that crashed in March 2023. The banks did not support crypto exchanges only, it also offers blockchain firms like Ripple Labs financial services.
Kiyosaki Urges Investors To Buy BTC, Gold, And Silver
According to the news, the price of Bitcoin increased significantly when the collapse occurred. Hence, as the popular author suggested that more banks would fall, he also predicted that the price of Bitcoin would also shoot up significantly. Therefore, he urges his followers to buy more BTC.
Kiyosaki tweeted that he believed there would be a massive mortgage crisis and real estate crash soon, just like what occurred in 2008. Hence he said buying BTC, gold or silver, and some other low-risk assets would provide a safe haven for users’ funds.
In addition, he predicted that the price of BTC would likely hit the $500, 000 price mark by 2025. He added that the massive printing of fiat currency by the Fed Reserve was a major reason for the possible surge in BTC rise.
However, he later drew down his prediction, expecting the primary crypto asset to hit $100,000 by 2025 and not $500,000.