The current outlook of the United States market and economy has forced investors, traders and residents to seek alternative solutions. Serial entrepreneur Robert Kiyosaki thinks he might have an idea on how to survive the situation.
The Warnings of Stock Market Crash
Firstly, Kiyosaki pointed out that the stock market faced an unfortunate crash on Friday, causing most stocks to tumble. The Dow Jones Industrial Average dipped by 600 points, the Nasdaq Composite crashed by 2.4% and the S&P 500 fell 6% from All-Time High (ATH) that it recently achieved.
The selloff in the stock market also trickles down to the broader crypto world. Here, Bitcoin has dropped by 4.21% in 24 hours to $62,009.04. Ethereum and Solana are also down 1.24% and 3.89% to $3002 and $151.75 respectively.
In addition, the author of “Rich Dad Poor Dad” quickly reminded his followers of how he’s constantly talking about an impending market crash. Truly, Kiyosaki has been warning the public over the years about the coming of an economic crash.
On this current premise, the investment expert advised his followers to seize this opportunity to get rich or richer. To put this in perspective, investors can now buy assets at “bargain basement prices.”
As many have warned….the stock market crash has arrived. Losses are substantial.
Rich dad taught his son and me when markets are crashing is the time the rich get richer….buying assets at bargain basement orices.
Markets are crashing. Great news. Asset markets are having…
— Robert Kiyosaki (@theRealKiyosaki) August 2, 2024
Robert Kiyosaki Encourage Bitcoin Purchase
Considering the stance of Robert Kiyosaki about Bitcoin, his suggestion likely involves buying the flagship cryptocurrency as well. He once urged his followers to shun the “expensive” price of Bitcoin and buy the coin.
“Your profit is made when you buy…. Not when you sell,” the entrepreneur said while quoting an investment lesson from his book.
A few weeks ago, Kiyosaki said Bitcoin is entering the “Banana Zone,” a position where it takes off on a parabolic trajectory. When it eventually reaches this level, there is a very high probability that most investors will express regret over not acquiring more BTC.
In today’s market, it is worth noting that Robert Kiyosaki does not trivialize the losses that many investors and companies are currently facing. He even described the losses as “substantial.” The best-selling author picked another lesson from his aforementioned book, citing that “Rich dad taught his son and me when markets are crashing is the time the rich get richer.”
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGEcrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
