Famous financial writer Robert Kiyosaki, who has been waiting for a global recession for a long time, is updating his gold, BTC and silver forecasts with the collapse of another US bank.
Gold and BTC advocate says crisis is one step closer
Robert Kiyosaki, author of the book “Rich Dad Poor Dad,” is known for his support of Bitcoin. In his latest statements, he spoke about the drop in the share prices of San Francisco-based First Republic Bank.
Kiyosaki claims that the US central bank, the Fed, is destroying regional banks through the repo market. He also states that these banks are the heart and soul of the economy. As of the beginning of this year, nearly 10 US banks have gone bankrupt, including Silvergate, Silicon Valley Bank and Signature Bank.
Signature Bank shut down in connection with Silicon Valley Bank collapse https://t.co/UdFcYny73B
— Fox News (@FoxNews) March 13, 2023
The fall in First Republic Bank’s share prices forced the bank to sell its assets. This escalated the US banking crisis and lost tens of billions of dollars in bank deposits. At this point, Kiyosaki claims that the Fed is destroying the regional banks.
Since 2023, about 10 banks in the US have gone bankrupt or the government has had to intervene. The drop in First Republic Bank’s share price briefly pushed the price of Bitcoin to $30,000. On the same day, however, Bitcoin experienced a sharp decline. Nearly $190 million worth of Bitcoin liquidations took place across multiple crypto exchanges. Long BTC positions accounted for 87.96% of these liquidations.
Cryptocurrency market fell with this news
The latest drop in Bitcoin price, Mt. Gox and US government wallets were reportedly transferring large amounts of Bitcoin. The rumors soon turned out to be false.
Behind the rumors, Arkham initially said that the alleged bug occurred as a result of “bug fixes” that sent a false alert to a “small subset of users” on analytics platforms. The result of the development was a $2,000 drop in the Bitcoin price.
cryptocoin.com As the Fud news disappears, the BTC price is recovering again. At the time of writing, it was consolidating over $29,000.
How did Robert Kiyosaki interpret the collapse?
Meanwhile, Kiyosaki said that the banking crisis also affected Amazon, laying off 18,000 employees as the credit flow was cut off. The author questions whether this is intentional. He thinks the best idea right now is for consumers to withdraw their currency from regional banks.
WTF. What The Fed? Why is Fed destroying regional banks across America? Regional banks are heart and soul of economy. Fed via the Repo Market killing regional banks. Is this intentional? Is a depression intentional? WTF is Fed up to? Get $ out of Regionals.
— Robert Kiyosaki (@theRealKiyosaki) April 27, 2023
Robert Kiyosaki expects these levels in BTC price
In a recent tweet, Kiyosaki predicted that Bitcoin is on the rise towards $100,000. Kiyosaki thinks that over the past three years, the Fed’s overprinting of dollars has been the main reason for the BTC price increase. In his price predictions, he also said that BTC could hit up to $500,000 by 2025. However, he suggested that in light of the current banking crisis, Bitcoin would reach $100,000.
