"Acknowledging Gold Price Prediction Failure" Kiyosaki Recommends 'This' Instead of Bitcoin (BTC) This Time

▲ Robert Kiyosaki, Dollar (USD), Bitcoin (BTC), Gold, Book/AI-generated image

Robert Kiyosaki, who admitted he failed to accurately predict the sharp drop in gold prices, has newly recommended a book instead of Bitcoin (BTC) or gold. He argued that it's time to study the collapse of the financial system and the shift of wealth, stating that people need to understand “why today's rich become tomorrow's poor.”

According to the cryptocurrency media outlet BeInCrypto on July 7 (local time), Robert Kiyosaki, author of 'Rich Dad Poor Dad,' recommended Mickey M. Maini's 'The Entropy Trap' on X (formerly Twitter). Kiyosaki called it “the most important and new book at this time in history” and said it “explains why today's rich become tomorrow's poor.”

What Kiyosaki newly advocates is not Bitcoin or commodities, but the study of changes in the financial system. He cited US Treasury bonds, ETFs, and mutual funds as examples of assets that rely on trust. He argues that if trust in the financial system collapses, the value of these assets could also waver.

Kiyosaki also presented the selling movements of major holders of US Treasury bonds, such as Japan, as a warning sign. He said, “Those who know what will happen and what assets to hold will be the world's new rich.” He argues that investors who first identify assets not dependent on the financial system will be in an advantageous position in the future shift of wealth.

These remarks came after Kiyosaki publicly admitted his failed gold forecast. Gold prices plummeted from a high of around $5,600 at the end of June to the $4,000 range. Kiyosaki stated, “I was wrong. Gold is still crashing. That's the reality.” However, he maintained his forecast of $35,000 for gold in about five years, saying, “Profits are made when you buy, not when you sell.”

BeInCrypto reported that critical reactions are also continuing, citing Kiyosaki's track record of bold predictions that have not materialized. One user criticized, “The prediction that gold will be $35,000 per ounce in five years will also be greatly wrong again.” Kiyosaki emphasizes learning to prepare for changes in the financial system rather than recommending specific assets.

[Key Article Summary]

-Robert Kiyosaki recommended 'The Entropy Trap,' which deals with the collapse of the financial system and the shift of wealth, instead of Bitcoin or gold.

-Kiyosaki warned of a collapse of trust in the financial system, citing US Treasury bonds, ETFs, and mutual funds as examples of assets that rely on trust.

-Kiyosaki admitted his failed forecast for the sharp drop in gold prices but maintained his prediction of $35,000 for gold in about five years.

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