Buy bitcoin before the massive banking crisis

In March, the entire financial world was hit by the rapid spread of the corona virus. Shares, bitcoin and gold plummeted. Things are now improving again, and bitcoin has recently even reached its highest value this year. But according to Robert Kiyosaki, author of the book Rich Dad, Poor Dad, there are even more reasons to hold on to bitcoin.

He is warning the world against a huge banking crisis. In a tweet today, he explains why there is no more time to think, and recommends that people invest in safe havens like gold, silver and bitcoin.

WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?

— therealkiyosaki (@theRealKiyosaki) August 21, 2020

Buffet sells bank shares

He does not mince words in his tweet. Freely translated, and with the removal of many capital letters: ‘Why Buffet is no longer in banks? Banks are out of business. A huge banking crisis is coming soon. ‘

According to Kiyosaki, there is little prospect of improvement: ‘The Fed (central bank) and the Treasury (Ministry of Finance) taking over the banking system? The Fed and Treasury sending ‘fake helicopter money’ to people to prevent riots? There is no time to think. How much gold, silver and bitcoin do you have? ‘

Bitcoin has no counterparty risk

Kiyosaki is a strong supporter of bitcoin and gold as safe havens. He says this in his previous tweets: “Why do I buy gold, silver and bitcoin? Three words: no counterparty risk. ”

(Okay, that’s two words in Dutch)

Counterparty risk means that the counterparty to a transaction is unable to meet its contractual obligation. Consider, for example, a loan provided where the interest or repayment cannot be paid.

According to Kiyosaki, there is such counterparty risk in equities, bonds and the real estate market. But gold, silver, and bitcoin are money, and these assets don’t depend on people to be seen as money. That’s why Kiyosaki invests in bitcoin, instead of stocks.

WHY I buy gold, silver, Bitcoin? Three words: No Counterparty Risk. Stocks, Bonds, Business, Real Estate all have Counterparty Risk. Gold, Silver, Bitcoin are money. They do not depend on people to be money. I own Gold, Silver Bitcoin in case I need to run from human insanity.

— therealkiyosaki (@theRealKiyosaki) August 17, 2020

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