- Robert Kiyosaki stated that an economic crash would cause Bitcoin’s value to reach $5,000.
- He thinks that a crash will occur in all assets, but he said that it is a good chance for investors to be wealthy.
Robert Kiyosaki, renowned author of Rich Dad Poor Dad, predicts a looming financial disaster, warning that the stock market and major assets like gold, silver, and bitcoin are heading for a massive decline. He shared his concerns on social media, pointing to what he calls “The Everything Bubble,” which he expects to burst soon, triggering a global depression.
Kiyosaki has always been vocal about his dislike for the present financial system and the use of printed money, especially after the 2008 financial crisis. He says that the long-term growth of the stock market is unrealistic and anticipates a massive fall.“The stock market has been high for too many years,” he said, noting that investors who have not prepared for a fall will be the hardest hit. He noted that gold, silver and bitcoin, which are regarded as safe-haven assets, would also come under pressure from the next recession.
KISS: Keeping It Super Simple: Friends said my previous Tweet was confusing. My apologies. So please read my previous Tweet and this Tweet and maybe I might make more sense…if I….KISS: I Keep it Super Simple.
Here goes. In 2008 was the GFC the Great Financial Crisis.
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— Robert Kiyosaki (@theRealKiyosaki) October 12, 2024
In particular, he noted that the rising gold prices might be an indication of investors’ growing concerns. Kiyosaki stated that more and more people are moving out of the stocks and into such defensive investments as gold, and this signal may point to even worse conditions in the future.
Bitcoin Price Could Drop Before Surging
Kiyosaki also gave a strong forecast for Bitcoin, saying that it can fall to $5000 per coin and then grow up to $250,000. He argues that this is a good time for investors who have been preparing to buy assets at a cheap price.“Take bitcoin for example… it may crash to $5,000 a coin… then boom to $100,000 to $250,000 and higher,” Kiyosaki noted.
If Kiyosaki’s prediction comes to fruition, then the effect on the cryptocurrency market could be devastating. At the time of writing this article, Bitcoin, which is currently trading at $65,701, controls more than 50% of the entire crypto market. A fall to $5,000 would mean a 92% decline in market capitalization, taking Bitcoin from over $1.3 trillion to $9.8 billion. A similar decline, however, would have a ripple effect throughout the market, and investors would begin to panic.
Such a crash would affect not only ordinary investors but also businesses that have invested heavily in Bitcoin, like MicroStrategy and Tesla. These firms would surely suffer huge losses and consequently put their shares on sale in the market. The profitability of Bitcoin miners is also likely to plummet, which could lead to their closure and a threat to the blockchain network.
Global Depression Looms on the Horizon
According to Kiyosaki, the bursting of the Everything Bubble may result in a depression worse than the one that was averted in 2008. He described the coming pop of the bubble as a disaster, likening it to the eruption of Mount Vesuvius. The economic impact, he says, will be significant and broad-based, touching almost every asset class.
However, according to Kiyosaki, this period of financial crisis will be a good time for people who are prepared. “After the everything crash… the prepared will get really rich,” he predicted, urging investors to act now. He stressed the need to be informed and continue to engage with proactive people in anticipation of a rebound in the market.
