The famous author of the bestselling book Rich Dad Poor Dad, Robert Kiyosaki, advised investors not to miss “the biggest sale on earth”. He said asset prices are collapsing, indicating that he is waiting in a cash position to pick up great deals, including bitcoin.
Robert Kiyosaki is waiting 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 sale on earth” is coming as asset prices plummet. Also read: Ripple under $ 1: is it a good buy?.
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. Over 32 million copies of the book have been sold in over 51 languages and in over 109 countries.
Kiyosaki tweeted on Monday, noting that his “favorite word of 4 letters is SALE”, tweeted:
The active bubble has found a pin. Asset prices are collapsing. In a cash position, I am waiting for good trades, especially in real estate and bitcoin … Do not miss the biggest sale on earth.
At the time of writing, the S&P 500 has fallen by 21% and the Nasdaq has fallen by 29% year to date. In addition, rising interest rates have begun to drive up mortgage costs and dampen housing demand.
Kiyosaki has warned of asset bubbles and market crashes many times. He said in March that we were in the “biggest bubble in world history”, noting that there were bubbles in stocks, real estate, commodities, oil, futures and even bitcoin. Last June, he said the biggest bubble in world history was getting bigger and predicted that the “biggest crash in world history” was on the way.
The famous author has been waiting to buy bitcoins for a while. He has repeatedly stated that he plans to buy BTC when the bottom is hit. When the largest cryptocurrency traded at around $ 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 will wait for the losers to ‘capitulate’, and then I will buy more, ”he tweeted.
Kiyosaki also warned of impending depression, hyperinflation and civil unrest in the United States. Last November, he said he was buying more gold, silver, bitcoin, ethereum, rental properties and oil as inflation rose. He blames President Joe Biden and the Federal Reserve for inflation and predicts the United States is heading into recession. “The Fed will raise interest rates, which will cause stocks, bonds, real estate and gold to collapse,” he had previously warned.
The U.S. Department of Labor said Wednesday that consumer prices rose 9.1% year-on-year, the largest annual increase since 1981. Meanwhile, several banks expect the U.S. economy to enter a recession this year.
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