- Robert Kiyosaki, author of “Rich Dad Poor Dad”, now warns that Bitcoin, gold, and silver are in bubbles set to burst, and he’s waiting for the crash to buy.
- This warning comes shortly after he praised Bitcoin’s all-time high of over US$120,000 and encouraged buying, a stark contrast to his current bearish outlook.
- Critics highlight Kiyosaki’s history of predicting market crashes that haven’t materialised, pointing out his often contradictory statements on asset markets.
Robert Kiyosaki now says Bitcoin, gold, and silver could all be heading for a sharp correction. The author of Rich Dad Poor Dad, known for his repeated bullish takes on hard assets, warned Monday that major bubbles are nearing collapse, and he’s preparing to buy after they pop.
Kiyosaki posted on X that the “bubbles are about to start busting”, referring to Bitcoin, gold, and silver, which, in his view, are likely to fall alongside broader asset declines. “That’s when I’ll start buying.”
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Kiyosaki’s Mood Swings
This comes off as an insane twist from just a week ago, where he praised Bitcoin’s new all-time high above US$120K (AU$184K), and mocked the latecomers who “own nothing”. At the time, he announced he was buying “another Bitcoin”, but cautioned investors against getting greedy.
As if that wasn’t enough, Kiyosaki called those warning of a BTC collapse “losers”, accusing them of trying to scare off retail investors.
Brew Markets highlighted Kiyosaki’s contradictions, proving he has a track record of predicting crashes that never arrive, sharing a chart with multiple bearish calls from Kiyosaki coinciding with market rallies, particularly in equities.
Related: UK’s Reeves Proposes £5 Billion Bitcoin Divestment to Address Budget Shortfall
Bubble or not, there are a few more things to worry about, like the Quantum threat against basically the entire crypto market. As CNA reported, a new proposal by Bitcoin advocate and software developer Jameson Lopp seeks to change Bitcoin’s signature mechanism for one that’s quantum-resistant.
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