Investing.com - Rich Dad Poor Dad author Robert Kiyosaki has once again caught the eye with his comments on the recent market downturn in both the stock market and cryptocurrencies.
In previous social media posts, Kiyosaki has repeatedly warned of this decline, sparking widespread market debate, especially as the FOMC minutes are due to be released. In a recent post on X, Kiyosaki explained the possible reasons for this collapse, but maintained his positive outlook on Bitcoin.
There are expectations of a severe correction in 2025..This is Buffett's advice to you!
Buffett is known for his ability to weather market adversity in the best possible way and inspired by him, InvestingPro offers the Buffett Stock Strategy, which is made up of stocks in Buffett's portfolio and stocks that fit his investment strategy. These are promising, low-risk stocks that can ensure you outperform the market in times of adversity.
Robert Kiyosaki's View on the Market Crash
Kiyosaki confirmed in a new post on the X platform that his previous prediction of a major market crash had come true, referring to his 2013 book “Rich Dad’s Prophecy,” which predicted the crash. This has raised concerns within the cryptocurrency market, where stocks and cryptocurrencies often move in tandem.
Reasons for the recent collapse
Kiyosaki attributes the collapse to decisions made by leaders in 2008, particularly former Federal Reserve Chairman Ben Bernanke, who placed greater emphasis on banker bonuses than the well-being of ordinary citizens. In addition, Kiyosaki points to the decline of several sectors, such as the auto market, the housing market, and the retail sector.
Despite this pessimistic outlook, Kiyosaki sees the crash as a great opportunity for smart investors. He expects valuable assets such as homes, gold, silver, and Bitcoin to become more affordable, creating an opportunity to accumulate wealth. He stressed the importance of investing in real assets such as gold and silver mines, urging readers to stay calm and informed, as market crashes can be a catalyst for growth and wealth accumulation.
Why is Bitcoin's drop "great news"?
In a separate post, Kiyosaki reiterated his bullish stance on Bitcoin. Despite the price of Bitcoin falling nearly 6% today to $95,845, with trading volume up 36% to $66 billion, Kiyosaki urged investors to buy more Bitcoin.
Kiyosaki's view on Bitcoin accumulation
Kiyosaki recently called the current Bitcoin crash “great news,” sparking widespread market debate. He confirmed that he is continuing to buy more Bitcoin, saying, “Bitcoin crash means Bitcoin is for sale.”
He also urged investors to continue buying bitcoin at low prices and holding onto it, reflecting his growing confidence in the leading cryptocurrency and its long-term prospects. He also pointed to the limited supply of bitcoin, explaining that there are only “2 million bitcoins” left to mine.
Cryptocurrency market collapse raises concerns
The recent cryptocurrency market crash has dented investor sentiment, with $712 million worth of liquidation in the digital asset sector. Meanwhile, despite Kiyosaki’s positive outlook, investors are still looking for possible reasons behind Bitcoin’s recent price decline.
It is worth noting that investors are taking a cautious stance, as the price of Bitcoin crossed the $100,000 mark yesterday. On the other hand, experts have warned of possible volatility with major economic events this week.
For example, the FOMC minutes are due out today. The market has been in a strong pullback since the Fed announced its final rate cut of the year last month. The December meeting minutes are expected to add to the current market volatility. In parallel, traders will be closely watching the upcoming US jobs data to understand the health of the labor market.
