u.today
Entrepreneur Robert Kiyosaki, a prominent Bitcoin investor and the author of the classic book on finance management “Rich Dad Poor Dad”, has taken to the X platform to share his take on the current situation in the US economy.
While things are not looking too good, there still may be hope, he hinted.
The cryptocurrency community rushed to respond to Kiyosaki’s tweet.
Q: Is the American economy in
— Robert Kiyosaki (@theRealKiyosaki) April 25, 2024
DEPRESSION?
A: Yes
Definition of a depression: an economy in subpar growth. In other words the economy may be growing but below potential.
Q4 2023 economy grew by 3.4%.
Q1 2024 economy grew by 1.6% less than half.
Not going to be a soft…
US economy in depression but there's a catch: Kiyosaki
Renowned financial expert Kiyosaki has tweeted that he believes the US economy is currently in the state of depression. He then provided a definition of a depression - “an economy in subpar growth.”
This means that the US economy might just be continuing to grow, he said, although below its true potential. Kiyosaki reminded his readers on Twitter/X that in the last quarter of last year, the economy grew by 3.4%. In the first quarter of this year, it has grown by less than half of that – 1.6%.
There is not going to be a soft landing for the US economy, Kiyosaki believes, still he seems to remain optimistic since the economy continues to grow no matter what. He also urged his readers not to believe fake news.
Besides, according to his earlier tweets, the financial expert has made and continues to make a huge financial bet on the world’s leading cryptocurrency Bitcoin.
Crypto community responds to Kiyosaki's statement
Members of various crypto communities responded to Kiyosaki’s message in the comments. One of them, a XRP-themed account, suggested that the definition of a depression should be changed in accordance with what Kiyosaki says in his tweet.
Some began to criticize the author and others reminded him about one of his favourite assets – Bitcoin. The majority left positive comments, praising Bitcoin and thanking Kiyosaki for his tweets that they find useful and inspiring.
Bitcoin to $100,000 this year per Kiyosaki
Earlier this year, Kiyosaki stated that he expected Bitcoin to skyrocket to $100,000 by September. One of the major drivers for that, he stated, would be the BTC halving – it took place on April 19-20 (depending on the time zone).
The “Rich Dad Poor Dad” author also said that he planned to buy ten more Bitcoins before the halving occurs since he expected a major price rise.