'Rich Dad Poor Dad' Author Bitcoiner Predicts Stock Market Crash, Hold Tight

Robert Kiyosaki, prominent Bitcoin proponent and the author of the classic book on personal finance management, has published a tweet with a gloomy prediction about traditional financial markets that he expects to occur soon.

“Don't be fooled,” Kiyosaki warns

Kiyosaki issued a warning about the current situation on the stock market. The Dow Jones Industrial Average index has added 0.35%, Nasdaq Composite Index has risen y 1.74%, the S&P 500 Index increased by 1.07% (reaching a new ATH) within the last 24 hours, as well as other major indexes. Among the factors that are pushing the stock market up in the US now is high earnings of companies and the January jobs report that surpassed the expected figures.

The stock market is climbing higher and higher. Suckers actually believe the economy is strong. Dont be fooled. The Magnificent 7 financed by US government dollars keeps stock market up. Please be careful. Stock and Bond markets about to crash.

— Robert Kiyosaki (@theRealKiyosaki) February 3, 2024

However, financial guru Kiyosaki believes that even though, the stock market keeps climbing higher, the US economy is far from being as strong as it seems to be. According to Kiyosaki, the stock market is actually being kept up thanks to the Magnificent 7, which is financed by the US government. These companies are – Apple, Alphabet (the parent company of Google), Meta Platforms, Amazon, Microsoft, NVIDIA and finally Elon Musks Tesla.

Kiyosaki warns investors to be careful, stating that he expects both the stock and bond markets to crash soon.

Still, some Twitter users are in doubt about these gloomy predictions issued by Kiyosaki and in general do not believe in his status of financial guru. Many commentators under his tweet have pointed out that Kiyosaki has been predicting the markets to crash over the past four or five years, as well as the crash of the US dollar. One Twitter user also published screenshots of his “crash predictions” during the past few years.

If you call crash 1000 times , eventually it will happen someday and you will call yourself a “Finance Guru” and start selling books to people pic.twitter.com/bXyT5js4Eq

— बleरिon (@nethinguwant) February 3, 2024

Here's why Kiyosaki holds Bitcoin

In a tweet published three days ago, Kiyosaki explained why he decided to start buying the worlds flagship cryptocurrency Bitcoin. For him, BTC is “protection against the theft of our wealth via our money.” He specified that the Fed chairman, Treasury Secretary and Wall Street bankers steal the wealth from average Americans using “inflation, taxation and stock price manipulation”.

Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…

— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024

The Fed printing trillions of USD was another big reason Kiyosaki mentioned earlier. This is why he prefers Bitcoin to stocks, bonds and US dollars.