Robert Kiyosaki expects markets to crash and the US economy to slump into a depression.
The “Rich Dad Poor Dad” author plans to buy bitcoin, gold, silver, and real estate once prices fall.
Michael Burry of “The Big Short” and GMO boss Jeremy Grantham also see a bubble about to burst.
Robert Kiyosaki warned investors to brace for a sweeping market crash and painful economic downturn, and signaled he’s planning to scoop up several assets once prices plunge, in a tweet on Thursday.
“Crash and Depression coming,” the “Rich Dad Poor Dad” author said. “Gold, silver, bitcoin, real estate will crash too.”
“Ready to buy more gold, silver, bitcoin, real estate after crash has crashed,” he continued. “Be aware. Take care.”
Kiyosaki has been tweeting about an impending crash for more than a year, so the personal-finance guru’s latest warning should be treated with skepticism. Yet it’s worth noting that unlike some other bearish commentators, he freely admits that he intends to capitalize on the next sell-off, and frames it as a buying opportunity as well as a worrying prospect.
“The good news is the best time to get rich is during a crash,” the founder of Rich Global and Rich Dad Company tweeted in June this year. “Bad news is the next crash will be a long one.”
Unlike Michael Burry of “The Big Short” fame, who took a knife to his stock portfolio last quarter in anticipation of a market crash, Kiyosaki appears to be snapping up assets even at current prices.
“I am buying more gold, silver, bitcoin, ethereum, rental real estate, and oil,” he tweeted last month. “What are you buying?”
Kiyosaki, Burry, and GMO cofounder Jeremy Grantham are just some of the high-profile commentators sounding the alarm on the current market and warning the bubble is about to burst. Billionaire investors including Leon Cooperman, Stanley Druckenmiller, and Charlie Munger – Warren Buffett’s right-hand man – have also warned the speculative frenzy won’t last.