The author of the personal finance bestseller Rich Dad Poor Dad, Robert Kiyosaki, is leaning bearish on the stock market while remaining bullish on Bitcoin (BTC).
The best-selling author tells his 2.7 million followers on the social media platform X that a prophecy he made of a massive stock market crash in a book he wrote 12 years ago is about to be fulfilled.
“In Rich Dad’s Prophecy (2013) I warned the biggest stock market crash in history was coming. That crash will be in February 2025.
Good news because in a crash everything goes on sale. Cars and houses on sale now.
Better news – billions will leave the stock and bond markets and rush into Bitcoin.
Bitcoin will boom, boom, boom.
Get on board while you can.
Get out of fake and into crypto, as well as gold and silver.
Even one Satoshi will make you rich, while millions lose everything.”
According to Kiyosaki, Bitcoin has “power” because of two principles governing economics and technology – Gresham’s Law and Metcalfe’s Law.
On Gresham’s Law, the best-selling author says,
“When BAD money enters a system GOOD money goes into hiding. Good money – gold and silver have been hiding from FAKE US dollars for years.
Today, Gold, silver, and Bitcoin are forcing the fake US dollar into hiding.”
Metcalfe’s Law, which is apparent in technologies that enjoy network effects such as social media platforms, states that a network’s value is directly related to the number of connected users or the size of the network. In the context of Bitcoin, Metcalfe’s Laws has been cited by, among others, Fidelity Investment’s global macro director Jurrien Timmer.
Kiyosaki has on various occasions expressed bullish sentiment on Bitcoin. In March of 2024, the Rich Dad Poor Dad author predicted Bitcoin would hit $300,000.
Bitcoin is trading at $100,939 at time of writing.
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