The author of “Rich Dad, Poor Dad,” Robert Kiyosaki, has returned with more economic predictions about the stock market. In his analysis, the real estate, stocks, silver, and bitcoin markets are crashing. Kiyosaki and Sharon Lechter wrote the book “Rich Dad, Poor Dad” in 1997.
This book has been a New York Times bestseller for almost six years. The book has been transcribed into 51 languages and printed in over 109 countries, with sales of over 32 million copies.
On Friday, Kiyosaki said on Twitter that “rising oil inflation” is causing a global market catastrophe and taking off the working class. He penned. There has been a complete and total crash in the cryptocurrency, precious metal, real estate, and stock markets. The rise in oil prices has wiped off the working class.
Later that day, on October 7, he tweeted a link to his 2013 book, “Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming…” And How to Benefit From It If You’re Ready!
He mentioned how it all “went on sale” in 2008, making it an ideal year to amass wealth. The legendary author noted the current disaster by citing his earlier warning of a more severe one: “That crash is here. They will kill off millions of people.”
Kiyosaki advised his 2 million followers on Twitter to “become richer” and “not get wiped out.” He said not having enough money wasn’t the most important thing last week. It’s all in your head, so work on improving that first before worrying about making more money.
The famous writer has often predicted market collapses. He has recently stated that both equities and bonds are crashing and that this will be the worst crash since 1788. He predicted economic hardship and civil turmoil and said inflation might trigger a more significant depression. Despite this, Anthony Scaramucci, CEO of Skybridge Capital, anticipates that bitcoin won’t hedge inflation until it hits 1B wallets.
He said last week that after hearing economist Harry Dent, he altered his attitude towards treasury bonds. The author of Rich Dad, Poor Dad has long advocated purchasing precious metals and cryptocurrencies like bitcoin because investors should prepare for the demise of the U.S. dollar. He claimed back in July that silver was the best investment value available.
Robert Kiyosaki, like many others, has been holding out for bitcoin’s price to drop. He indicated in June that he would wait for bitcoin to reach $1,100 before making a purchase. He said in July that he was waiting until he had enough cash on hand to acquire Bitcoin.
BTC dropped below $20,000 this week. Bitcoin has lost more than 9 percent of its value in the past week, trading at $19,629 at the time of writing. According to data compiled by Coinmarketcap, the total value of the cryptocurrency market is approximately $944 billion.