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'Rich Dad Poor Dad' Author Reveals His Possible Actions Should Bitcoin Crash

source-logo  u.today 24 February 2024 10:11, UTC

Bitcoiner Robert Kiyosaki, and also an entrepreneur, investor and author of the popular self-teaching book on finances “Rich Dad Poor Dad”, has taken to the X social media platform (formerly popular as Twitter) to answer a question that he often gets asked about BTC.

He also revealed what he loves most about the times when all financial markets go bust.

First thing Kiyosaki does if Bitcoin crashes

Robert Kiyosaki shared that he is often asked about what will happen if Bitcoin price collapses. To that the entrepreneur provided an answer in his tweet, speaking about himself. He stated that should the world’s flagship cryptocurrency crash, he “would be happy and would buy more, once the crashing stops.”

I am often asked “What happens if Bitcoin crashes?” My reply is the same for Bitcoin, gold, or silver. My reply is “I would be happy and I would buy more, once the crashing stops.”

All market crashes are, are assets going on and “sale” is my favorite four letter word.

— Robert Kiyosaki (@theRealKiyosaki) February 23, 2024

Overall, the investor noted, a market crash for him means nothing but a discount on a certain asset and a good opportunity to buy it, therefore his favorite word about market crashes is “sale.” This is not only true about Bitcoin for him, according to the tweet, but also about gold and silver. The last time he predicted Bitcoin will soar to the $100,000 level by June this year and he expects the gold price to drop below $1,200 in the near future.

Kiyosaki slams Fed Reserve, naming Bitcoin a good bet

In a few tweets published recently, the “Rich Dad Poor Dad” author, whom many believe to be a financial guru, took a big dig at the US Federal Reserve System. Kiyosaki shared the reasons why he strongly disliked the Fed with his 2.1 million Twitter followers.

He accused the institution of being a major issuer-maker for the US economy, in particular, he wrote that the Fed made the low and middle classes poorer than they were and criticized the Fed for bailing out the “rich banking friends.” Therefore, Kiyosaki has a lot more trust in Bitcoin rather than in the Fed Reserve.

Kiyosaki has made a frequent topic of his tweets a big market crash that he expects and he has been tweeting those “crash predictions” since 2020. Some of commentators have been trolling him for this under his tweets.

Recently, Bitcoin maximalist Max Keiser has began tweeting similar predictions. He has posted that he expects the stock market to crash and Bitcoin to hit $500,000. Bitcoin is currently trading at slightly above $51,000.