Stock market today: S&P 500 closer lower on fresh economic concerns
U.Today - Robert Kiyosaki, a renowned investor, financial education advocate and the author of the classic book on financial management “Rich Dad Poor Dad,” has addressed the community with an important message about the current market state and Bitcoin.
He also shared a bullish price prediction about an asset that he considers to have similar massive potential as BTC in the future.
Biggest stock market crash in history
Kiyosaki admitted that he might be repeating himself, however, he reminded the community about the prediction he made in his other book, "Rch Dad’s Prophecy." In it, he predicted that "the biggest stock market crash in history" would take place in the future. And this is "happening now," he said.Back at the time when the book was published (the early 2000s), he said that “the biggest market crashes in stocks, bonds, and real estate….are about to happen in the very very near future.”
For this very reason, he continued in the tweet, he has been investing in gold, silver and later on in Bitcoin.
"Silver price to explode 2x"; "I trust Bitcoin to protect me"
Kiyosaki has frequently stated that he considers not only Bitcoin but also physical gold and silver to be safe-haven assets, and he has been accumulating all three of them. He buys silver in the form of coins, which he often says even people with low income can afford.In his tweet, the financial guru predicted that silver’s price would explode 2x by 2026 — from the current $35 per ounce to $70 over the next year.
As for the coming market crash, Kiyosaki says that if it happens indeed, “odds are the Fed and Treasury will print trillions in fake dollars…. increasing M2 money supply,” and it he expects it to cause massive inflation in the near future.
In a nutshell, Kiyosaki said: “I do not trust the Fed and Treasury” since they can turn on the “fake money press” any time they want. And here’s the major reason he prefers to buy Bitcoin, silver and gold: “I trust gold, silver, and Bitcoin to protect me from the coming massive inflation.” He calls U.S. dollars “fake” since the U.S. has continued to lose its purchasing power since the removal of the gold standard in 1971.