Robert Kiyosaki, prominent Bitcoin advocate and author of the classic book on personal finance management, posted a tweet with a gloomy prediction about traditional financial markets that he hopes will happen soon.
Robert Kiyosaki, prominent Bitcoin advocate and author of the classic book on personal finance management, posted a tweet with a gloomy prediction about traditional financial markets that he hopes will happen soon.
“Don’t be fooled,” warns Kiyosaki
Kiyosaki warned about the current situation in the stock Exchange. The Dow Jones Industrial Average rose 0.35%, the Nasdaq Composite index rose 1.74%, the S&P 500 index rose 1.07% (reaching a new ATH) in the last 24 hours, as well as other indices important. Among the factors that are driving the stock market in the US now are high corporate income and the January employment report that exceeded expected figures.
However, financial guru Kiyosaki believes that although the stock market continues to rise, the American economy is far from as strong as it seems. According to Kiyosaki, the stock market is kept alive by the Magnificent Seven, funded by the US government. These companies are Apple, Alphabet (Google’s parent company), Meta Platforms, Amazon, Microsoft, NVIDIA and, finally, Elon Musk’s Tesla.
Kiyosaki warns investors to be careful and says he expects both the stock and bond markets to collapse soon.
However, some X users doubt these gloomy predictions from Kiyosaki and generally do not believe in his status as a financial guru. Many commentators on his tweet have pointed out that Kiyosaki has been predicting that markets will collapse for the past four or five years, as well as the fall of the US dollar. An X user also posted screenshots of his “crash predictions” over the past few years.
Here’s why Kiyosaki owns Bitcoin
In a tweet posted three days ago, Kiyosaki explained why he decided to start buying the world’s flagship cryptocurrency, Bitcoin. For him, BTC is “protection against the theft of our wealth through our money.” He stated that the chairman of the Federal Reserve, the secretary of the Treasury and Wall Street bankers steal the wealth of the average American using “inflation, taxes and manipulation of stock prices.”
The printing of trillions of dollars by the Federal Reserve was another big reason Kiyosaki mentioned earlier. That’s why he prefers Bitcoin over stocks, bonds and US dollars.
