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Robert Kiyosaki, the author of "Rich Dad Poor Dad," has dropped a bold insight into the current financial market setup. In a post on X, Kiyosaki warns of a looming stock market crash and its implications for investment options.
Safe haven assets: gold, silver and Bitcoin
Notably, the renowned author believes the indicators of a stock market crash are going off. Although he did not specifically name these signs, Kiyosaki maintains that the crash will be massive. In the past, these indicators have often included geopolitical tensions, rising interest rates and high debts.
Most of these signs are unfolding in the U.S. and globally, and could trigger a crash in the value of stocks.
According to Kiyosaki, a crash in the traditional financial market could push investors to safe-haven assets. These preferred assets includes gold, silver and Bitcoin. In his opinion, these assets have been known to gain value during market crashes. Investors generally rush toward them to protect their funds from inflation and market instability.
The financial expert is not so optimistic for investors with just a retirement plan that is tied to stocks. "Bad news for Baby Boomers with 401 k," Kiyosaki wrote.
Many older investors consider stocks a safer bet and have most of their wealth in stocks. Kiyosaki warns that if a crash happens, these categories of investors could suffer huge losses as the value of the account drops sharply.
Bitcoin nears new all-time high amid market uncertainty
Bitcoin, as of press time, is trading at $121,352.37, up by 3.02% in the last 24 hours. The coin is just 1.25% away from flipping the all-time high of $123,091 it set less than a month ago. In earlier trading, it hit a peak of $122,321.10 before a slight correction.
Investors are also active as they anticipate U.S. Fed rate cuts. This anticipation has helped push volume up by a significant 25.49% at $76.63 billion.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team