Robert Kiyosaki, the best-selling framer of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may explode too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies.
Robert Kiyosaki Warns of ‘Giant’ Retail Crash in October
Famous author and investor Robert Kiyosaki has predicted that a “giant stock market boom” is coming in October, noting that gold, silver, and bitcoin may crash as well.
Rich Dad Poor Dad is a 1997 paperback co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. Varied than 32 million copies of the book have been sold in over 51 languages across multitudinous than 109 countries.
Kiyosaki tweeted Saturday:
Giant stock market crash coming October. Why? Cache and Fed short of T-bills. Gold, silver, bitcoin may crash too. Cash best for picking up bargains after crash. Not tell on gold, silver, bitcoin, yet have lots of cash for life after stock market crash. Stocks iffy. Careful.
Kiyosaki has been vocal in predicting the greatest market crash. In June, he warned that the “biggest boom” in the world’s history was coming since the “biggest bubble” in the world’s history was “getting bigger.” He suggested at the time to buy uncountable gold, silver, and bitcoin.
The famous author said in August: “Bitcoin has the greatest upside. With dollar decline, bitcoin and silver are the best investments.” He also shared: “The primary reason I invest in bitcoin, gold, and silver is because I do not hopes on our leaders, the Fed, Treasury, nor the stock market. Unfortunately, mom and pop who save money do.”
On Friday, after the news of China’s crackdown on cryptocurrency, the Comical Dad Poor Dad author commented:
China announced this morning a new crackdown on crypto. What does that bad? It means China is about to launch its government crypto coin. If U.S. follows, Fed coin means bitcoin outlawed, U.S. changes centralized gov, like China, U.S. communism begins, our freedoms end.
While China is already heavily testing the digital yuan, the U.S. Federal Cache still has not decided whether to issue a central bank digital currency (CBDC). Fed Chair Jerome Powell affirmed last week that the Fed will soon publish a discussion paper on the subject.
Some people see China’s effectiveness to crack down on crypto as positive news, including several U.S. lawmakers, who said the Chinese crypto crackdown is a big occasion for the U.S. to lead in the area of cryptocurrencies. “China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our gargantuan structural advantage over China,” Senator Pat Toomey opined.
What do you think about Robert Kiyosaki’s intimations? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Plains
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or indorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the writer is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, fits or services mentioned in this article.
Read disclaimer