'Rich Dad Poor Dad' Author Expects Stock Market to Collapse, Sees Depression Coming

Prominent investor in Bitcoin and gold, entrepreneur in the sphere of financial education and author of the popular book "Rich Dad Poor Dad," Robert Kiyosaki, has taken to Twitter to predict yet another negative future coming for the U.S. economy soon.

He expects a depression to arrive after the current economic situation gets worse. In earlier tweets, Kiyosaki urged his followers to stock up on Bitcoin and other risk-hedging assets, and this has gone unnamed in the majority of his tweets in the past three years.

"Too many signs that point to a severe crash coming"

Kiyosaki tweeted that "too many signs point to a severe stock market crash" and "depression coming" too. The financial guru tweeted that he prefers not to play stock markets or bond markets since he likes to control everything too much as an entrepreneur.

He warns those who have made too big a bet on stocks and bonds to the degree that their future now depends on those markets to "please be careful, possibly ask for professional advice."

I do not play the stock or bond markets. As an entrepreneur I like my hands on control too much. Yet too many signs point to a severe stock market crash. If your future depends on stocks and bonds please be careful, possibly ask for professional advice. Afraid depression coming.

— Robert Kiyosaki (@theRealKiyosaki) July 17, 2023

"Get into Bitcoin asap," Kiyosaki says

On Saturday, Kiyosaki took to Twitter to state that the stock market was going up since the U.S. debt ceiling had been removed. A bill was signed at the start of last month about extending the debt ceiling beyond the current $31.4 trillion, which allowed the U.S. to avoid a default.

The major indexes, such as the Dow Jones, Nasdaq and S&P 500, have been on the rise. The "Rich Dad Poor Dad" author believes that the stock market is rising, as it is following the U.S. debt ceiling.

WHY is stock market taking off? Because “Debt Ceiling” removed. Means national debt to rise with stock market. Rich get richer as America gets poorer. Sad. Sticking with real money & real assets: Gold, Silver, Bitcoin.

— Robert Kiyosaki (@theRealKiyosaki) July 14, 2023

"America is getting poorer," he stated, suggesting that even though this is happening, there is still a chance to get rich, and he urged his followers to get into Bitcoin, gold and silver asap.

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New BRICS currency may push BTC to $120,000, Kiyosaki says

Last week, Robert Kiyosaki also posted a tweet about his concerns about the upcoming BRICS leaders' meeting at the end of August this year. BRICS consists of South Africa, Brazil, China, India and Russia, and the leaders of these countries intend to launch their own trading currency backed by gold in order to reduce their dependence on the U.S. dollar in the sphere of international trade.

Kiyosaki believes that once it happens, trillions of USD will remain unused and will flow back into the United States, thus increasing inflation tremendously and bringing on a massive economic crash, along with depression.

He reckons that as soon as it happens, Bitcoin may be pushed as high as the $120,000 level, and it may happen by the end of next year.

Investor and financial guru Kiyosaki has been predicting the approaching crash of the U.S. dollar since early 2020, when trillions of USD were injected into the economy to support banks, corporations and average U.S. households against the pandemic that broke out then. Since that time, the U.S. Fed Reserve continues to print large amounts of USD — this year it was done to bail out crashed U.S. banks — and Kiyosaki continues to use this argument in his Bitcoin price predictions.