The famous author of the bestseller Rich Dad Poor Dad, Robert Kiyosaki, advised investors not to miss “the biggest sale on Earth”. He said asset prices are collapsing and indicated he is waiting in 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, pointing out that “the biggest sell-off on Earth” will come if asset prices crash. Also read: Ripple Below $1: Is It a Good Buying Opportunity?.
Rich Dad Poor Dad is a book published in 1997 and co-authored by Kiyosaki and Sharon Lechter. It was on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in more than 51 languages and in more than 109 countries.
Noting that his “favorite 4-letter word is SALE,” Kiyosaki tweeted Monday:
The asset bubble has found a pin. Asset prices are collapsing. In a cash position, I’m waiting for good deals, especially in real estate and bitcoin… Don’t miss the biggest sale in the world.
At the time of writing, the S&P 500 is down 21% since the beginning of the year and the Nasdaq 29%. In addition, rising interest rates are starting to push up mortgage payments and dampen housing demand.
Kiyosaki has often warned about bubbles and market crashes. He said in March that we were in the “largest bubble in world history”, noting that there were bubbles in stocks, real estate, commodities, oil, futures and even bitcoin. In June last year, he said the largest bubble in world history was widening and predicted the “biggest crash in world history” would come.
The famous author has been waiting for quite some time to buy bitcoins. He has repeatedly stated that he plans to buy BTC when the bottom is reached. When the biggest cryptocurrencycurrency traded at about $35,000, he said he expected 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 he recovers, I will buy more. If not, I’ll wait for the losers to ‘capitulate’ and then buy more,” he tweeted.
Kiyosaki also warned of looming depression, hyperinflation and civil unrest in the United States. Last November, he said he bought more gold, silver, bitcoin, ether, rental properties and oil as inflation rose. He blames President Joe Biden and the Federal Reserve for inflation and predicts the United States will slide into recession. “The Fed will raise interest rates, causing stocks, bonds, real estate and gold to collapse,” he had previously warned.
The US Department of Labor said on Wednesday that consumer prices are up 9.1% from a year earlier, the largest annual increase since 1981. Meanwhile, more banks expect the US economy to plunge into recession this year.
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