‘Rich Dad, Poor Dad’ author Robert Kiyosaki saw a major market crash in October

It can’t be wrong that Robert Kiyosaki is a guru to many when it comes to personal finance and investing. Investor, entrepreneur, financial education advocate and author of “Rich Dad, Poor Dad” Robert Kiyosaki warned that a “huge” financial meltdown could occur in the stock market in October. At the same time, he also said that this could be a good investment opportunity.

In a message sent via his Twitter account, Kiyosaki said: “The huge stock market crash is coming in October. Why? Treasury and Fed are both short of Treasury bills. Gold, silver, bitcoin could also crash. Cash is best at Pick up bargains after a crash. Don’t sell gold, silver, bitcoin, but have a lot of cash for life after a stock market crash. Stocks are dangerous. Be careful”

Experts believe that using cash will be the best option for doing business after both Bitcoin and gold have fallen.

While he stressed his belief that Bitcoin (CRYPTO:BTC), gold, and silver could crash – Kiyosaki didn’t forget to mention that he didn’t sell any of them and claimed to have “a lot of cash” for life after the stock market crash .

It’s worth noting that this isn’t the first time Kiyosaki has raised the alarm about a potential massive stock market crash.

Earlier in late July, he warned on Twitter — “The best time to prepare for a crash is before it. The biggest crash in the history of the world is coming. The good news is that the best time to get rich is The timing is during the crash. The bad news is that the next crash will be a long one. Get as much gold, silver and bitcoin as you can. Be careful.”

Many of his followers believe that Kiyosaki’s prediction of a huge market crash has yet to materialize.

Bitcoin price trend:

Bitcoin was trading between $40,000 and $50,000 in September. The price of the most popular digital asset has appreciated by more than 300% since October 2020.

Kiyosaki thinks the dollar is dying

The likely reason for Kiyosaki’s promotion of Bitcoin is that he wants to hedge against the deflationary dollar.

In a recent blog post, he stated: “Unlike most people, I am not using bitcoin to make millions. I am using bitcoin to protect my millions as the dollar collapses. Insurance. I see Bitcoin as digital gold.”

If you ask yourself why he has this belief, then QE must be kept in mind. It is a tool used by central banks to lower interest rates and increase the flow of money in the economy. He appears to be a critic of the Fed, whom he often calls “incompetent.”

Mr. Kiyosaki believes that the decisions of the U.S. Treasury and the Federal Reserve are far from the reality of the current U.S. economy, artificially inflating the stock market.

“So they put all this money in and the price went up,” he told Kitco News on Wednesday. “So it’s temporary inflation, but we’ve got a lot of debt and all it’s doing is pushing up the stock market and the housing market.”

“The money is not going into the economy, that’s the sad part. So the rich are getting richer, but the poor and the middle class are getting poorer. What’s happening today is so sad.”

In fact, throughout the pandemic, the Fed’s actions have led Kiyosaki to post numerous quarantine updates on YouTube, including “Your currency is dying!!!” and “The economy is dying.” In one of the articles, he talks about the Fed – “since 1971, they’ve been printing money, not solving the problem, they’re just making it worse.”

Should You Invest in Bitcoin, Gold or Silver?

Should You Invest in Bitcoin, Gold or Silver? Better do your research!

Whenever you think you have to put your hard-earned money into any of the top cryptocurrency exchanges, it’s best to do your own research.Even in one of his books – Decrypting Cryptocurrencies, he says – “If you’re going to invest, first research the subject, then find someone who’s invested in an asset you’re interested in and ask them questions,” he wrote in the book says

Also, this tweet is more applicable to U.S. expats, but we have to pay close attention to the multiple conversations that increase the performance of investment assets.

Cryptocurrencies can be an excellent inflation hedge, but their value can vary widely. Indeed, we don’t yet know the full extent of the pandemic’s impact on the economy and the accompanying government spending. However, we also cannot predict how and in what direction the Bitcoin market will evolve.

Make sure you thoroughly understand the risks involved, as with any investment, and consider whether cryptocurrency investing is right for you.

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