coinpedia.org
Robert Kiyosaki, author of “Rich Dad, Poor Dad,” foresees a market catastrophe and asserts that recessions are the best periods to acquire wealth.
In a tweet on Monday, the “Rich Dad Poor Dad” author and personal finance guru revealed that he borrowed millions of dollars during the financial crisis to acquire low-cost real estate. He continues to believe that the ideal time to get rich is when asset prices drop. Previously, he advised buying gold, silver, and bitcoin when their values fell in order to profit from their comeback.
The latest prediction by Rich Dad Poor Dad Author
The best-selling author recently issued a warning on Twitter about the upcoming great global recession, which has the potential to be even worse than a great depression. He foresees retirement, insolvency, unemployment, and homelessness. According to Kiyosaki, there is good news as well, much like the proverb says that every cloud has a silver lining. A recession means bargains everywhere, as well as lower gold and silver prices.
Q: WHATIS WORSE THAN A GREAT DEPRESSION? A: a global recession. UNFORTUNATELY we are in GLOBAL RECESSION. Hang on. Rough landing for world. BAD NEWS Bankruptcy, Unemployment, Homelessness soar. Retirements toast. GOOD NEWS. Bargains everywhere. Gold, Silver, BC PRICELESS.
— Robert Kiyosaki (@theRealKiyosaki) January 28, 2023
Kiyosaki is bullish on BTC
Just before the start of the new year, on December 31, Kiyosaki stated in a tweet that the Securities and Exchange Commission (SEC) would “crush” most altcoins with its stringent laws, which is why he is currently only bullish on BTC.
He continues by saying that the reason he is enthusiastic about bitcoin is that it is a commodity similar to gold, silver, and oil. The majority of crypto tokens are classified as securities, and SEC laws will kill the majority of them. He claims he’ll buy more bitcoin.
Q: Are you investing in Bitcoin?
— Robert Kiyosaki (@theRealKiyosaki) December 31, 2022
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC
Kiyosaki projected that Bitcoin’s price would fall to $10,000 after the dust settled following the FTX collapse. He also stated that he intends to take advantage of the potential drop in Bitcoin’s value to between $10,000 and $12,000 as a result of the selloff in order to expand his holdings.
The price of bitcoin has significantly increased since the beginning of this month. The prediction of Kiyosaki seems to be bullish on Bitcoin and he has suggested taking advantage of the upcoming dip in prices due to the recession.