Robert Kiyosaki – the author of “Rich Dad, Poor Dad” – believes that a huge market crash is coming, and that bitcoin – along with many other assets, such as gold and silver – will come to a screeching halt rather soon.
Robert Kiyosaki – The Market Will Suffer
Kiyosaki suggests that a huge economic downturn is on the horizon, and he’s looking to invest all he can when the supposed crash occurs. In a series of tweets, he commented:
Crash and depression coming. Gold, silver, bitcoin, real estate will crash too. Ready to buy more gold, silver, bitcoin, real estate after crash has crashed. Be aware. Take care.
For the most part, Kiyosaki has been claiming for over a year that a market crash is heading our way. What makes him discernible amongst other economic analysts is that he says he fully intends to take advantage of the market crash once it happens, and that he will invest once prices are more affordable.
As the founder of Rich Global and the Rich Dad Company, he explained in a tweet last June:
The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one.
It looks like the investing journey for Kiyosaki has already started. He has taken the opposite route of Michael Burry, who was famously portrayed by British actor Christian Bale in “The Big Short.” Burry recently got rid of a huge chunk of stock shares he was holding in anticipation of a market crash. Kiyosaki, by contrast, appears to already be buying up assets even at their current prices. He says:
I am buying more gold, silver, bitcoin, Ethereum, rental real estate, and oil. What are you buying?
There are several high-profile traders and investors that seem to be claiming that a market crash is right around the corner. Aside from Kiyosaki and Burry, GMO co-founder Jeremy Grantham has stated that he believes the market is showing signs of failing in the coming future. Billionaire investors Leon Cooperman and Stanley Druckenmiller have also stated that the speculative frenzy we’re seeing now will have an ugly end.
Things May Not End Well
The present surge in market speculation began over a year ago when the coronavirus pandemic began striking our global economy. As a result, the prices of virtually everything – including stocks and bitcoin – began suffering, and people started buying into the dip convinced that BTC was somehow a hedge tool designed to fight inflation.
The inflation that’s running so rampant today also began during the pandemic. Governments around the world started printing fiat currency right and left as a means of providing stimulus measures to citizens so that they could stay afloat during the pandemic. Unfortunately, this excessive printing of money has led to serious economic issues.