The famous author of the best-selling Rich Dad Poor Dad Robert Kiyosaki once advised investors not to miss “the greatest sale on earth.” He said asset prices were plunging and said he was waiting for a cash position to pick up bargains, including bitcoin.
Robert Kiyosaki waits to buy Bitcoin
“Rich Dad Poor Dad” author Robert Kiyosaki reiterated this week that he is waiting to buy bitcoin, stressing that “the greatest deal on earth” is coming as the asset’s price plummets.
Rich Dad Poor Dad is a 1997 book by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages in over 109 countries.
Noting that his “favorite 4-letter word is SALE,” Kiyosaki tweeted on Monday:
Asset Bubble found Pins. Asset prices plummeted. Waiting at the cash location to pick up bargains especially on real estate and bitcoin… don’t miss out on the greatest sale on earth.
At the time of writing, the S&P 500 is down 21%, while the Nasdaq is down 29% so far this year. Also, rising interest rates have started to push up mortgage costs and cool housing demand.
Kiyosaki has repeatedly warned about asset bubbles and market crashes. He said in March that we are in the “biggest bubble in the history of the world”, noting that there are bubbles in stocks, real estate, commodities, oil, futures and even bitcoin. Last June, he said the biggest bubble in world history was getting bigger and bigger, predicting that “the biggest crash in world history” was coming.
The famous author has been waiting to buy Bitcoin for a long time. He has said several times that he plans to buy BTC when it hits the bottom. When the largest cryptocurrency was trading around $35,000, he said he was waiting to buy it at $24,000. When Bitcoin hovered around $30,000 in May, he said he was waiting for the price to drop to $9,000. Last month, he revealed that he was waiting for Bitcoin to “test” $1,100 before buying. “If it recovers, I will buy more. If not, I will wait for the loser to ‘surrender’ to exit before buying more,” he tweeted.
Kiyosaki also warned of an impending depression, hyperinflation and civil unrest in the United States. In November, he said he was buying more gold, silver, bitcoin, ether, rental real estate and oil as inflation escalated. He blamed President Joe Biden and the Federal Reserve for inflation and predicted the U.S. was sliding into recession. “The Fed will raise rates, causing stocks, bonds, real estate and gold to crash,” he previously warned.
Consumer prices surged 9.1% from a year earlier, the largest annual gain since 1981, the Labor Department said on Wednesday. Meanwhile, more banks are forecasting that the U.S. economy will slide into recession this year.
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