Rich Dad Poor Dad Author Warns of Market Bubble, Says Bitcoin Could ‘Bust’ Soon

Robert Kiyosaki has warned users of an imminent Bitcoin market collapse, calling it “good news.” He said that the current bubble is about to start busting.

“When bubbles bust odds are gold, silver, and Bitcoin will bust too,” he wrote on X.

The renowned investor and author of Rich Dad Poor Dad believes that Bitcoin’s crash would be a major signal to buy for the long-term. Kiyosaki disclosed that he has plans to buy Bitcoin and other precious metals, gold and silver, during their dip.

BTC price has witnessed a slight pullback from its last week’s all-time high of $123,000 and is currently trading at $119,370 at the time of writing.

He celebrated Bitcoin’s all-time high on July 14, calling it a great news for those who already hold Bitcoin.

Kiyosaki’s Consistent Bearish Predictions

Robert Kiyosaki has had a history of predicting stock and crypto market crashes. Last month, he warned of a historic market crash, predicting that billions of investors would flee traditional markets and rush to Bitcoin.

In March, he cautioned investors that “the everything bubble is bursting,” forecasting a downward trend that would be the biggest in history.

He said that the bust would be bigger than the 1929 market crash, which led to the Great Depression. Despite his warning, Bitcoin only experienced a small price dip, hovering around the $80,000 mark at the time.

Ever since, the largest crypto has soared above $100,000, breaking $123,000 on July 14. As reported earlier, the author believes that Bitcoin would climb to $1 million by 2035. He called Bitcoin the “easiest way to get rich,” urging that even small-scale ownership, like 0.01 BTC, could change lives.

Bitcoin Miners, Whales Increase Exchange Deposits – What’s Going On?

On July 15, Bitcoin exchange inflows surged to 81,000 BTC, after the crypto reached an all-time high. This marks the largest daily figure since February.

The increase was driven by whales and miners, where miner outflows hit 16,000 BTC.

According to CryptoQuant, there was a drop in miner wallet balances, from 68,000 BTC to 65,000 BTC, since June 26. The drop indicated that miners used last week’s rally to realise profits.