Robert Kiyosaki, bestselling author of Rich Dad Poor Dad, has predicted a “giant stock market crash” this October. He believes that “Bitcoin may collapse as well”. The famous author also gave his opinion on China’s crackdown on cryptocurrencies.
Robert Kiyosaki warns of a “giant” market crash in October
Renowned author and investor Robert Kiyosaki has predicted that a “giant stock market crash” is coming in October, noting that gold, silver and bitcoin may also crash.
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 more than 51 languages in more than 109 countries.
On Saturday, Kiyosaki tweeted:
The giant stock market crash next October. why? Treasury and Federal Reserve short of Treasury bills. Gold, silver and bitcoin may also collapse. Cash is better for capturing trades after the crash. She doesn’t sell gold, silver and bitcoin, but she has plenty of cash for life after the stock market crash. Stocks are serious. to caution.
Kiyosaki was outspoken in predicting the biggest market crash. In June, he warned that the “biggest crash” in world history was coming because the “biggest bubble” in world history was “getting bigger”. He suggested at the time buying more gold, silver and bitcoin.
“Bitcoin has the most upside. With the dollar falling, bitcoin and silver are the best investments,” the famous author said in August. As he shared: “The main reason I invest in bitcoin, gold, and silver is because I don’t trust our leaders, the Federal Reserve, the Treasury, or the stock market. Unfortunately, mom and pop who save money do.”
On Friday, after news of China’s crackdown on cryptocurrency, the author of Rich Dad Poor Dad commented:
This morning, China announced a new crackdown on cryptocurrencies. what does that mean? This means that China is about to launch its own government cryptocurrency. If you follow the United States, the Federal Reserve currency means that bitcoin is banned, the United States becomes a central government, like China, American communism begins, and our freedoms end.
While China is already testing the digital yuan extensively, the US Federal Reserve has not yet decided whether to issue a central bank digital currency (CBDC). Fed Chairman Jerome Powell said last week that the Fed would soon publish a discussion paper on the subject.
Some people see China’s move to crack down on crypto as positive news, including several US lawmakers, who have argued that China’s crackdown on cryptocurrencies represents a huge opportunity for the US to lead in the crypto space. “China’s authoritarian crackdown on cryptocurrencies, including bitcoin, is a huge opportunity for the United States, as well as a reminder of our massive structural advantage over China,” Senator Pat Tomey said.
What do you think of Robert Kiyosaki’s predictions? Let us know in the comments section below.
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