Robert Kiyosaki believes the market crash presents an opportunity to invest in Bitcoin, despite widespread financial losses and liquidations.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Robert Kiyosaki, the popular author of Rich Dad Poor Dad, has commented on the ongoing market crash, stating that this is the best time to get rich.
The top investor has always been vocal about his support for Bitcoin BTC $83 984 24h volatility: 1.8% Market cap: $1.66 T Vol. 24h: $27.53 B , seeing it as a good means of getting rich easily. In his latest post on X, Kiyosaki wrote that multiple asset classes are experiencing a significant crash. Therefore, the downturn will lead to widespread job losses. However, according to the renowned author, the current situation also presents a good moment for people to get rich. He stated:
“BRUTAL CRASH HERE NOW. The stock, bond, real estate, gold, silver, and Bitcoin markets are crashing. The best assets in the world are going on sale. Millions will lose their jobs. This is the best time to get rich.”
Kiyosaki earlier forecasted that February will witness the biggest stock market crash in history. However, he remained bullish on the future of Bitcoin as he noted that the crash will push investors out of traditional markets (stocks and bonds) and into Bitcoin, predicting a surge in its value.
On January 15, Kiyosaki predicted that the price of Bitcoin will hit $250,000 this year. He has also consistently urged investors to buy more of the digital asset.
BITCOIN over $100k
Predict $250 k this year.
Buying more
— Robert Kiyosaki (@theRealKiyosaki) January 16, 2025
Bitcoin has been experiencing a dip in price as it has dropped below $100,000. In addition, more than $2 billion has been liquidated in the crypto market in the past 24 hours, a figure which surpasses the COVID crash and FTX implosion. Bybit CEO noted that the liquidation could even reach $8 billion to $10 billion. He said:
“I am afraid that today real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 24hr liquidation alone was $2.1B.”
The crash has been linked to the implementation of tariffs on imports, which include 25% tariffs on Mexico and Canada and 10% on China by US President Donald Trump.
This decision has sparked a trade war, with Canada, Mexico, and China retaliating. Economists warn it could raise prices, worsen inflation, and lead to job losses. Thus, this has led to markets reacting negatively as Bitcoin and altcoins fell.
Many expected Trump to impose crypto-friendly rules. However, his latest policies have sent the market crashing. The Bitcoin fear and greed index reads 44%, which suggests that investors are cautious, possibly due to recent price drops or uncertainty.
Bitcoin Fear and Greed Index is 44 ~ Neutral
Current price: $96,703 pic.twitter.com/H3YXersI0B— Bitcoin Fear and Greed Index (@BitcoinFear) February 3, 2025
The price of Bitcoin has dropped by more than 2% in the last 24 hours. However, according to CoinMarketCap data, trading is up by more than 150% within the same timeframe, which shows that the market is still active. Bitcoin is trading at $97,102 as of the time of writing.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
