The highly successful author behind the “Rich Dad Poor Dad” series of personal finance books, Robert Kiyosaki, has predicted a “giant stock market crash” is coming in October, and while he noted the price of bitcoin may crash too, he is not selling his BTC holdings.
According to a tweet Kiyosaki published, the best-selling author believes that the stock market crash will take down with it not only equities but also the price of precious metals like gold and silver. Cryptocurrencies like bitcoin will also be affected, with cash being “best for picking up bargains after crash.”
The author added he will not be selling his gold, silver, or bitcoin, but maintains “lots of cash for life after stock market crash,” before noting he believes the stock market is currently dangerous for investors.
Kiyosaki has over 1.7 million followers on the microblogging platform, partly thanks to the success of his “Rich Dad Poor Dad” books. The main book of the series of one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”
The best-selling author has been predicting a stock market crash for some time now. In June, he recommended buying bitcoin ahead of what he believes was going to be the “biggest crash in world history.” The crash, he revealed, was coming after the “biggest bubble in world history” popped.
In August, he revealed BTC had the “greatest upside” while the value of the U.S. dollar was dropping. Earlier this year, the author said the price of bitcoin was “going to $1.2 million” in five years. Kiyosaki has also recently commented on China’s crackdown on cryptocurrency.
Per his words, China is “about to launch its Government crypto coin,” and as such outlawed cryptocurrency mining and trading to crackdown on privately issued competitors.
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.
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