Rich Dad, Poor Dad author Robert Kiyosaki issues a new warning about an imminent market collapse that could crash the prices of major assets like Bitcoin.
The crypto market has been on a bull frenzy for several weeks, with Bitcoin hitting an all-time high of $123,200 on July 14. Although most cryptocurrencies like XRP and Ethereum are yet to record new ATHs, they posted historic price performance.
For instance, while XRP reached a multi-year high of $3.65, Ethereum climbed above $3,800 for the first time since December 18, 2024. In the meantime, the rally is cooling off, and crypto prices are retracing from the highs registered the previous week.
“Bubbles Will Soon Burst”
Amid the ongoing price action, Kiyosaki warns that several speculative “bubbles are about to start bursting.”
His statement suggests a major market crash is imminent for the financial markets. According to Kiyosaki, once the bubble starts popping, it will result in a significant dip in Bitcoin’s price as well as that of traditional financial instruments like gold and silver.
It’s Good News Still
However, the financial expert views the imminent market collapse as good news, particularly for investors seeking to purchase these assets at discounted prices.
When bubbles burst, panic selling often drives crypto prices even lower, allowing long-term buyers to acquire financial assets at bargain levels.
Interestingly, Kiyosaki disclosed that he would be buying Bitcoin once its price crashes. He also plans to do the same for precious metals — gold and silver.
Kiyosaki’s Historical Bearish Predictions
For the uninitiated, Kiyosaki has consistently predicted market crashes over the years. In March, he warned that “the everything bubble is bursting,” forecasting a downturn that could be the biggest in history. In his view, the downturn would surpass the 1929 market crash, which triggered the Great Depression.
Likewise, he called it a once-in-a-lifetime opportunity for investors to accumulate Bitcoin, gold, and real estate at steep discounts. Despite this warning, Bitcoin hovered around the $80,000 mark at the time, and only registered a small price dip.
The premier crypto has since soared above $100,000, breaking $123,000 in July. It is currently trading at $118,272, representing a 14.29% increase over the past 30 days.
Even though Kiyosaki believes a widespread downturn is around the corner, he plans to seize the opportunity to acquire more assets at discounted prices in anticipation of a future rally. As reported earlier, the author expects the price of Bitcoin to climb to $1 million by 2030, five years from now.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
