The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has advised investors not to miss “the greatest sale on earth.” He said asset prices are crashing and indicated that he is waiting in cash position to pick up bargains, including bitcoin.
The author of Rich Dad Poor Dad, Robert Kiyosaki, reiterated this week that he is waiting to buy bitcoin, emphasizing that “the Greatest Sale on Earth” is coming as asset prices are crashing.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Noting that his “Favorite 4-letter word is SALE,” Kiyosaki tweeted Monday:
Asset bubble found a Pin. Asset prices crashing. In cash position waiting to pick up bargains especially in real estate and bitcoin … Do not miss the Greatest Sale on Earth.
At the time of writing, the S&P 500 has declined 21% while Nasdaq has slumped 29% so far this year. Moreover, rising interest rates have begun to drive up mortgage costs and cool housing demand.
Kiyosaki has warned about asset bubbles and markets crashing many times. He said in March that we are in the “biggest bubble in world history,” noting there are bubbles in stocks, real estate, commodities, oil, futures, and even bitcoin. In June last year, he said the biggest bubble in world history is getting bigger, predicting that the “biggest crash in world history” is coming.
The famous author has been waiting to buy bitcoin for quite some time. He said on several occasions that he plans to buy BTC when the bottom is in. When the largest cryptocurrency was trading at about $35K, he said he was waiting to buy it at $24K. When bitcoin was hovering around $30K in May, he said he was waiting for the price to drop as low as $9K. Last month, he revealed that he is waiting for bitcoin to “test” $1,100 before buying. “If it recovers, I will buy more. If it does not, I will wait for losers to ‘capitulate’ quit then buy more,” he tweeted.
Kiyosaki has also warned about an impending depression, hyperinflation, and civil unrest in the U.S. In November last year, he said he was buying more gold, silver, bitcoin, ethereum, rental real estate, and oil as inflation escalated. He blames President Joe Biden and the Federal Reserve for inflation, predicting that the U.S. is sliding into a recession. “Fed will raise interest rates causing stock, bond, real estate & gold crash,” he previously warned.
The U.S. Labor Department said Wednesday that consumer prices soared 9.1% compared with a year earlier, the biggest yearly increase since 1981. Meanwhile, more banks are predicting that the U.S. economy will slide into recession this year.
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