Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, has said that he expects the price of bitcoin to drop to $24,000 ahead of the “biggest crash in world history.”
On social media, Kiyosaki suggested that financial markets are currently in the “biggest bubble in world history” which, in his opinion, is “getting bigger.” Per his words he is now actively buying gold and silver and is waiting for the price of bitcoin to drop to $24,000 as “crashes [are the] best time to get rich.”
Kiyosaki did not reveal any more details on his bitcoin price prediction, but he has in the past said the cryptocurrency’s price crashing was “great news” as he was looking to buy more when BTC was trading at $27,000, which seemingly implied he thought it was overvalued.
The price of bitcoin surged late last year, from around $11,000 in October to a new all-time high near $64,000 before it started correcting. The bull run started shortly after PayPal launched a new service letting users buy, sell, and hold BTC, ETH, BCH, and LTC on its platform. It accelerated as major companies like MicroStrategy and Tesla added bitcoin to their balance sheets.
The bull run then seemingly came to an end after Tesla CEO Elon Musk tweeted out Tesla would no longer accept bitcoin payments over environmental concerns. Since then the price of bitcoin has been ranging between the $30,000 and $40,000 marks.
Kiyosaki, it’s worth noting, is the author of a 1997 book called “Rich Dad Poor Dad” that has been on the New York Times Best Seller list for over six years and has sold over 32 million copies, after having been translated to 51 languages.
He has in the past asked his followers on social media to “remember the problem is not gold, silver, or bitcoin,” but instead the “incompetents in government, Fed & Wall Street.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.