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Crypto Community Backlash at Kiyosaki Over Repeated Calls of Bitcoin Crash

Robert Kiyosaki believes that the value of the pioneer crypto asset will crash which will be a buying opportunity for him.

Robert Kiyosaki

Prominent American businessman Robert Kiyosaki, renowned for his personal finance book series “Rich Dad, Poor Dad,” is facing criticism following his recent tweet.

In an X post, the financial expert shared a prediction stating that the Bitcoin “bubble” could soon burst, along with gold and silver.

Bearish Prediction Ignite Community Response 

According to the tweet, Kiyosaki believes that the value of the pioneer crypto asset will crash, as well as the price of Silver and Gold. When this happens, he will increase his exposure to the asset. In response, many crypto investors criticized him for his often bearish predictions.

Over the past few years, Kiyosaki has made similar predictions of market bubbles bursting and crashes, often advising to buy during dips.

With his recent expectations, many in the crypto space appear more irritated. This is because Kiyosaki has repeatedly posted about stock and crypto market crashes and has been wrong on several occasions. Still, his buy-on-dip advice has paid off for investors.

Interestingly, the business mogul’s recent statement appears to contradict his comment from early July. Then, he criticized “clickbait losers” who warn of Bitcoin crashes to scare off speculators. At that time, he had expressed his intent to buy more Bitcoin if its price fell, regarding such a situation as a strategic opportunity.

A Consistent Message

Throughout the years, Kiyosaki has been a strong advocate for financial literacy and empowerment. He previously admitted that he hadn’t invested in Bitcoin earlier because he didn’t understand modern money. However, over time, he has come to see Bitcoin as a hedge against inflation and government control over currency.

This is why, on several occasions, he encouraged owning bitcoin, noting that holding the asset will become meaningful over time. The renowned author even believes that BTC could eventually reach $1 million.

When Bitcoin hit a record high earlier this month, Kiyosaki warned against impulse buying driven by the fear of missing out (FOMO). He referred to this phase as the “Banana Zone,” which often leads to irrational buying behavior and potential losses.

Despite a slight dip over the last 24 hours, Bitcoin remains resilient, driven by strong institutional interest. Last week, the spot Bitcoin ETF recorded $2.39 billion in inflows, and several companies continued their treasury accumulations.

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Faith

Faith is a dedicated content writer who is focused on expanding her interest and knowledge about cryptocurrencies and blockchain technology. In her free time, she enjoys listening to music, reading, and traveling.