Rich Dad Poor Dad bestselling author Robert Kiyosaki has issued a warning of a crash in the world’s financial markets, and that even Bitcoin will not be spared. “Bitcoin will bust too,” he said, citing an overall economic bubble in the United States that he believes is ready to pop.
Bitcoin had only rallied to a new all-time high of about $123,000 before it dropped back to $118,000, a drop of over 5%, as long-term investors took profits.
Kiyosaki stated the correction could be the start of a larger fear-driven slide in the entire market and excessive retail speculation.
Kiyosaki added that gold, silver, and Bitcoin are all vulnerable to deep corrections once the broader financial bubble collapses. Despite this forecast, he remains long-term bullish on the assets.
“If prices of gold, silver, and Bitcoin crash… I will be buying,” he tweeted, describing any subsequent dip as a strategic buying opportunity. He advised investors to be cautious but ready, as rallies fueled by FOMO might soon reverse spectacularly.
Kiyosaki had earlier characterized Bitcoin as moving into a “banana zone,” where emotional buying might pump up prices artificially. Such a zone, he cautions, typically comes ahead of corrections by late investor entrants rushing in.