Benzinga - “Rich Dad Poor Dad” author Robert Kiyosaki has responded to economist Harry Dent’s prediction of a massive financial crash, expressing his investment strategy if the prediction comes true.
What Happened: On Tuesday, Kiyosaki took to X, formerly Twitter, to share his thoughts on Dent’s prediction of an “everything crash.” Dent has forecasted a significant drop in the value of homes, an 80% fall in the S&P, and a drastic decrease in Bitcoin’s value to $200 per coin.
Harry Dent is predicting the biggest "everything" crash is coming. He is saying the "Baby Boom Generation" will be the biggest losers, as their homes crash in value. He says the S&P will fall by 80%.He also predicts Bitcoin will drop back to $200 a coin.
If Harry is…
— Robert Kiyosaki (@theRealKiyosaki) April 2, 2024
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Kiyosaki, however, sees potential in this predicted downturn. He stated that if Dent’s predictions come true, he would invest more in real estate, gold, and silver. Furthermore, he expressed his intention to buy as many Bitcoin coins as possible if the value drops to $200.
Why It Matters: Dent warned of a looming market crash fueled by overvalued markets and excessive stimulus spending, predicting it to be the biggest crash in a lifetime, according to a Fox Business report.
He highlighted historical indicators of a bubble and criticized investors for not heeding caution. Dent anticipated significant drops in stock markets, cryptocurrencies, and real estate, cautioning Americans to prepare for massive losses
Kiyosaki’s response to Dent’s prediction aligns with his previous views on market crashes. He described market crashes as opportunities for assets to go on sale. Despite acknowledging the potential risks of Bitcoin being a Ponzi scheme, Kiyosaki remains optimistic about the cryptocurrency.
His views come amid a dip in major cryptocurrencies, including Bitcoin, as reported in a recent Benzinga article.
Price Action: Bitcoin traded nearly 1.1% lower at $66,206.84 at the time of writing, according to data from Benzinga Pro.
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