Robert Kiyosaki, author of ‘Rich Dad Poor Dad’ and financial educator, is an influential voice in the realm of personal finance. He is also quite an outspoken market commentator — and never shies away from sharing his takes with investors.
As a noted critic of fiat currencies, which he has often referred to as ‘fake money’, it comes as little surprise that Kiyoski is bullish on gold, silver, and cryptocurrencies — particularly Bitcoin (BTC).
On the other hand, the author is also quite a controversial figure — often criticized for his incendiary, alarmist rhetoric, as well as the fact that he is approximately $1.2 billion in debt. However, over the course of 2024, Kiyosaki’s portfolio netted an impressive 76.03% return — buoyed primarily by Solana (SOL), Ethereum (ETH), and Bitcoin.
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In true ‘Rich Dad’ fashion, Kiyosaki took to social media platform X on January 27 to share yet another warning of an imminent crash, which he predicts will take place in February of 2025.
Robert Kiyosaki sees opportunity in crash — but hasn’t successfully predicted one yet
Long ago, in his 2002 book ‘Rich Dad’s Prophecy’, the author warned that the ‘buggiest’ stock market crash in history was coming. Kiyosaki’s post is optimistic on the whole, however — with the investor highlighting that during a crash, everything goes on sale, and adding that the same is happening right now with houses and cars.
Following up, the investor added that billions will leave the stock and bond markets to rush into BTC — and that as a result, Bitcoin will boom. Finally, he urged investors to get on board while they can, and invest in cryptocurrencies, gold, and silver.
The post is quite misleading, however — Kiyosaki’s original 2002 prediction was that the crash would occur around 2016, as Baby Boomers begin retiring en masse. The author has a rather spotty track record when it comes to predicting market crashes.
In addition, Kiyosaki had previously ‘prophesied’ that the crash would come (or that it was already here) in 2020 — as well as 2022.
So, once all is said and done, ‘Rich Dad’s Prophecy’ failed to materialize the first time around — as well as the second and the third time. While this does not imply that a crash will not happen, and Kiyosaki’s thesis on Bitcoin might well materialize, it does discredit the author’s underlying reasoning.
Featured image via The Rich Dad YouTube Channel
