Yuri Molchan
Financial market expert Kiyosaki has made a gloomy forecast for the US stock and bond markets
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Robert Kiyosaki, prominent Bitcoin advocate and author of the classic book on personal financial management, posted a tweet with a dire prediction about what he believes is about to happen in traditional financial markets.
“Don’t be fooled,” warns Kiyosaki
Kiyosaki warned about the current situation on the stock market. The Dow Jones Industrial Average Index is up 0.35%, the Nasdaq Composite Index is up 1.74%, the S&P 500 Index is up 1.07% in the last 24 hours (reaching a new high) , as well as other important indices. Factors driving the U.S. stock market higher include strong corporate earnings and January's jobs report, which beat expectations.
However, financial guru Kiyosaki is convinced that despite the stock market continuing to rise, the US economy is nowhere near as strong as it seems. According to Kiyosaki, the stock market is actually kept running thanks to the “Magnificent Seven,” which are funded by the U.S. government. These companies are Apple, Alphabet (Google's parent company), Meta Platforms, Amazon, Microsoft, NVIDIA and finally Elon Musk's Tesla.
Kiyosaki urges investors to be cautious, saying he expects both stock and bond markets to crash soon.
Still, some X users have doubts about Kiyosaki's dire predictions and generally don't believe in his status as a financial guru. Many commentators under his tweet have pointed out that Kiyosaki has been predicting a market collapse as well as a fall in the US dollar over the past four or five years. An X user also posted screenshots of his “crash predictions” from the last few years.
This is why Kiyosaki owns Bitcoin
In a tweet published three days ago, Kiyosaki explained why he decided to start buying the world's leading cryptocurrency, Bitcoin. For him, BTC is “protection against the theft of our assets through our money.” He specified that the Fed chairman, treasury secretary and Wall Street bankers are stealing the wealth of average Americans using “inflation, taxation and stock price manipulation.”
The Fed printing trillions of dollars was another big reason that Kiyosaki mentioned earlier. For this reason, he prefers Bitcoin over stocks, bonds and US dollars.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
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