'Rich Dad Poor Dad' Author: Bitcoin Tanking in 'Brutal Market Crash,' But Here's Good News
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Robert Kiyosaki, renowned investor known for authoring best-selling book on personal finance management “Rich Dad Poor Dad,” has taken to social media to comment on the current bloodbath faced by financial markets, including Bitcoin.
Some may think that the prediction he has been repeating over the past few years is finally coming true, as he predicted “the worst crash in history” to happen soon.
"Brutal crash here now," Kiyosaki says
Kiyosaki’s tweet again speaks about a “brutal crash,” saying that it has arrived and Bitcoin, as well as the markets of traditional assets, are collapsing: “The stock, bond, real estate, gold, silver, and Bitcoin markets are crashing.”
However, according to the investment expert, “the best assets in the world are going on sale”: silver, gold and Bitcoin. He believes millions will lose their jobs. But there seems to be good news for traders and investors: “This is the best time to get rich,” Kiyosaki stated.
On Saturday, when Bitcoin showed its first slight decline, Kiyosaki warned that digital gold “may crash” and referred to it as good news again, touting an opportunity to “get rich” since Bitcoin, silver and gold would be on sale. He described a similar situation in his earlier tweets, saying that when a lot of commercial real estate crashed in price during the 2009 financial crisis and went on sale, he bought a lot of it cheaply and made a fortune.
Yuri MolchanBrutal crypto bloodbath arrives
The Saturday introduction of new trade tariffs for Canada, Mexico and China by the U.S. government has caused what many are calling the worst bloodbath in the history of cryptocurrencies. More than $2 billion worth of crypto has been wiped out in massive liquidations over the past 24 hours as traders rushed to get out of risky assets such as tech stocks, Bitcoin, etc.
The world’s primary cryptocurrency, BTC, has tanked by more than 7% since Sunday, crashing from $99,350 to the $92,500 zone. By now, the largest cryptocurrency in terms of market capitalization size has managed to partly pare its losses and is changing hands at $95,480 per coin, having increased by almost 2.5%.
The rest of the crypto market nosedived following Bitcoin, with the top cryptos crashing by more than 11-18%: SOL, XRP, BNB, ADA, DOGE, etc.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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