The author of the personal finance book ‘Rich Dad, Poor Dad’ Robert Kiyosaki, has extended his bearish stand on the global economy amid prevailing fears of an impending recession.

Indeed, Kiyosaki has stated that the global economy is what he termed as ‘the biggest bubble in history’ adding to his long-term gloomy economic prediction, he said in a tweet on November 25.

“Many of you know I do not invest in equities, bonds, ETS or MFs. Please DO NOT listen to what I’m going to say next: “I would get out of paper assets.” The world economy is not a “Market.” I believe the economy is the biggest bubble in world history. God have mercy on us all,” he said.

However, Kiyosaki has remained bullish on Bitcoin and precious metals, maintaining that the products will potentially emerge stronger, with the economy likely to collapse.

“I’m still bullish on Bitcoin but don’t consider silver and the silver ETF the same thing. And Bitcoin is not the same as Sam Bankman-Fried. (…) It’s FTX that’s the problem. <…> I’m still in favor of Bitcoin. I’m not against it, as many people in my genre, in my age group, are because I think Bitcoin is solid. I’m actually more into blockchain, and I do own Ethereum,” he said.

At the same time, Kiyosaki has predicted that the maiden cryptocurrency could hit the $1 million mark in five years, although he expressed his preference for gold.