Robert Kiyosaki, best known as the author of the bestseller “Rich Dad, Poor Dad,” has advised investors not to miss “the biggest sale on earth.” He said asset prices are tumbling and suggested waiting in cash positions to pick up bargains, including bitcoin.
Robert Kiyosaki is waiting to buy bitcoin
Robert Kiyosaki, author of “Rich Dad, Poor Dad,” reiterated this week that he is waiting to buy bitcoin, emphasizing that the “greatest sale on earth” is coming as asset prices are tumbling.
Rich Dad, Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Rector. It has been on the New York Times bestseller list for more than six years; more than 32 million copies have been sold in more than 109 countries and 51 languages.
His favorite four-letter word is SALE, Kiyosaki tweeted Monday.
The asset bubble has found its pin. Asset prices are crashing. Waiting to pick up bargains in cash positions, especially in real estate and bitcoin… Don’t miss the greatest sale on the planet.
As of this writing, the S&P 500 is down 21%; the P 500 is down 21% and the NASDAQ is down 29%. Additionally, rising interest rates have increased mortgage costs and begun to cool housing demand.
Kiyosaki has warned repeatedly about asset bubbles and market crashes. He said in March that “we are in the biggest bubble in world history,” noting that there are bubbles in stocks, real estate, commodities, oil, futures, and even bitcoin. Last June, he said that the biggest bubble in world history was getting bigger and predicted that the “biggest crash in world history” was coming.
This well-known writer has been waiting to buy bitcoin for quite some time. He has stated several times that heintends to buy BTC when it bottoms out. When the largest cryptocurrency was trading at about $35K, he said he was waiting to buy at $24K; in May, when bitcoin was hovering around $30K, he said he was waiting for the price to drop to $9K. Last month, he revealed that he was waiting for bitcoin to “test” $1,100 before buying.” If it recovers, he will buy more. If not, I’ll wait for the losers to ‘surrender’ before buying more,” he tweeted.
Kiyosaki has also warned of impending depression, hyperinflation, and civil unrest in the U.S. Last November, he said he was buying more gold, silver, bitcoin, ethereum, rental real estate, and oil as inflation escalated. He blames President Joe Biden and the Federal Reserve for inflation and predicts that the U.S. will fall into a recession.” He previously warned that “the Fed will raise interest rates, causing a crash in stocks, bonds, real estate {54} and gold.
Consumer prices released Wednesday by the U.S. Labor Department rose 9.1% year over year, the largest annual increase since 1981. Meanwhile, a growing number of banks are predicting that the U.S. economy will fall into recession this year.
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