Robert Kiyosaki, the famous author of "Rich Dad Poor Dad" and a Bitcoin advocate, has expressed concerns about the stability of traditional financial markets, particularly the US stock market. In his tweet, he highlighted his worries about the current bullish trends in major indexes such as the Dow Jones, Nasdaq Composite, and S&P 500, the latter of which reached a new historical high.
Despite positive corporate earnings and a more optimistic than expected January employment report, Kiyosaki believes that the economic situation is worse than it appears. He points to the "Magnificent Seven" - major companies including Apple, Alphabet, Meta Platforms, Amazon, Microsoft, NVIDIA, and Tesla, which he believes are artificially supported by government funding, thereby artificially sustaining the stock market.
Kiyosaki predicts a crash in both the stock and bond markets. Despite criticism and doubts about his forecasts from social media users, he remains steadfast in his beliefs. He argues that inflation, taxation, and stock price manipulation, driven by government policies, are deteriorating wealth.
Kiyosaki sees Bitcoin as a protection against wealth loss caused by actions of the Federal Reserve System, the Treasury Secretary, and Wall Street bankers. He actively urges the investment community to buy Bitcoin, predicting that its price could reach $150,000 this year.
