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Robert Kiyosaki is betting on bitcoin, gold, and silver in preparation for an epic market crash.
The "Rich Dad Poor Dad" author advises investors to be patient and wait for bargains.
Kiyosaki expects the US dollar to slump in value, and interest-rate hikes to spark a sell-off.
"Rich Dad Poor Dad" author Robert Kiyosaki is hoarding gold, silver, and bitcoin in anticipation of a brutal market downturn - and preaching patience to investors as he expects a bargain bonanza after the crash.
"Bitcoin is booming. Gold is stagnant. Silver is 50% below all-time highs," he tweeted recently. "Silver is the best, lowest-risk, high-potential investment. Bitcoin has the greatest upside. With dollar dropping, bitcoin and silver are the best investments."
Kiyosaki, the founder of Rich Dad Company and Rich Global, expects the flood of government stimulus during the pandemic to fuel a collapse in the dollar's value. When the Federal Reserve hikes interest rates to cool down the economy, asset prices will plunge, he predicted earlier this year.
The personal-finance guru hopes to minimize the impact on his portfolio by parking his money in cryptocurrencies and precious metals, which he views as haven assets. He also sees them as more secure places to stash his cash.
"The primary reason I invest in bitcoin, gold, & silver is because I do not trust our leaders, the Fed, Treasury, nor the stock market," he tweeted in August.
Kiyosaki's best-selling book details his experience of growing up with a poor father, observing his friend's wealthy father, and noticing differences in the two men's spending, saving, and investing habits. The author quoted the affluent parent in an August tweet to emphasize the current risks to investors and the need to preserve their wealth.
"My rich dad's words of wisdom: 'Always remember ... Las Vegas was NOT built on winners,'" he said. "I would add, 'Neither was Wall Street.' Be careful. In 2021, future losers are everywhere."
Kiyosaki singled out the red-hot US housing market as risky at the end of July, and advised investors to sniff out deals elsewhere.
"Be cautious," he tweeted. "Real estate bubble will burst if interest rates rise. Bargains after crash. Best bargain is still silver. Still 50% below all-time highs."
"Time to be patient not greedy," he added.
Kiyosaki's latest comments echo his warnings and guidance earlier this year.
"Biggest bubble in world history getting bigger," he tweeted in June. "Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin to drop to $24k. Crashes best time to get rich. Take care."
Read the original article on Business Insider