- “Rich Dad, Poor Dad” author Robert Kiyosaki expects a historic crash across financial markets.
- Kiyosaki advises investors to buy gold, silver, and bitcoin ahead of the downturn.
- The personal-finance guru cheered on Robinhood and Reddit traders earlier this year.
- See more stories on Insider’s business page.
Financial markets are barreling towards a brutal downturn, and investors should bank on cryptocurrencies and precious metals to weather the fallout, “Rich Dad Poor Dad” author Robert Kiyosaki tweeted on Monday.
“The biggest crash in world history is coming,” he said, adding that sell-offs create buying opportunities but markets won’t recover for a long time. “Get more gold, silver, and bitcoin while you can.”
Kiyosaki’s best-selling book urges people to understand their finances, not rely on others for money, and accumulate wealth by investing in businesses, real estate, and other assets. The founder of Rich Global and Rich Dad Company has been sounding the alarm on the current market for several months.
Kiyosaki recommends holding crypto and metals because he expects them to retain more of their value, and be more easily converted into cash, than other assets during a downturn.
“Why I like gold, silver, bitcoin? LIQUIDITY,” he tweeted in February. “People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out.”
Notably, the personal-finance guru celebrated the retail investors who executed short squeezes on GameStop, AMC, and other assets earlier this year. “Robinhood and Reddit traders kicking the butts of institutional investors,” he tweeted in late January. “Keep it up. Love it.”
Kiyosaki is far from the only high-profile commentator to predict a crash. Leading investors such as Jeremy Grantham, Leon Cooperman, Stanley Druckenmiller, and Michael Burry of “The Big Short” fame have all warned the current boom will end painfully.