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U.Today - Robert Kiyosaki, a financial education advocate known for his classic book on funds management, "Rich Dad Poor Dad," has commented on the current market decline, which has also affected Bitcoin.
Sharing references to his earlier market predictions, he, nevertheless, told the community how to make lemonade from this tremendous lemon.
"Everything bubble is bursting"
Kiyosaki started his tweet by saying that “the everything bubble is bursting,” referring to this market crash as “the biggest in history.” He said that Germany, Japan and America have been the engines up to now, referring to the big market crashes and economy issues these countries are currently facing.The financial guru has blamed the current development on “incompetent” politicians. In earlier tweets, he also named “banksters” spearheaded by the Federal Reserve as the culprits of the current market decline.
Kiyosaki claimed that he had predicted the current crash in his book “Rich Dad’s Prophecy.” According to it, the current stock market collapse “is going to be bigger than the 1929 crash,” which led to the Great Depression.
Kiyosaki reassured his audience that feeling disturbed and fearful is normal, but he warned them against panicking. Millions of people will lose their savings and fortunes, he said and also spread the good news: “You do not have to be one of them.”
Lifetime opportunity to acquire Bitcoin on sale
Kiyosaki revealed the strategy he adopted in 2008, when the U.S. was hit by the massive financial crisis, which sent ripples across the world, hitting other economies as well. He said he waited, “letting the panic and dust settle and then started to look for great real assets on sale…. At Deep discounts.”In other words, he insists, a crash presents “the opportunity of your lifetime.” The expert said he will continue buying “real assets" — Bitcoin, gold, silver and real estate — now on sale.
On Monday, Bitcoin crashed by more than 7%, nosediving from $85,580 and falling below $80,000 for the first time since early November, when the results of the U.S. presidential elections were announced, with Trump beating Harris. By now, Bitcoin has rebounded to $81,720.
Last week, the president signed an order to create a Strategic Bitcoin Reserve but without announcing any intentions to start buying BTC for it in large amounts soon.