The author of a personal finance book published over 20 years ago is diversifying his crypto portfolio while predicting a looming major market crisis.
In a recent interview with Stansberry Research, Rich Dad Poor Dad author Robert Kiyosaki was asked why he recently added Solana (SOL) to his portfolio.
“The best deals are always done early. When people say, ‘Do you invest in Bitcoin?’, [my answer is] yes, when it was $6,000. Solana is still early, and it’s got a possibility, it’s a long shot.”
Ethereum-rival and smart contract platform Solana is the seventh-largest crypto asset by market cap, a blockchain known for scalability, speed and low transaction fees.
When asked about US dollar inflation, the one-time best-selling author claims a large portion of Americans don’t even have $1000 as evidence that inflation will irreparably alter American life as we know it.
“Inflation goes up and the average American doesn’t have $1000 bucks. Forty percent of Americans don’t have $1000 bucks. So when inflation goes up, we’re going to wipe out 50% of the population, and that is when revolution starts.”
Kiyosaki failed to produce data to back up his “40% of Americans” claim or clarify what he meant by “revolution.”
When the interviewer asked about potential crypto regulation, the self-proclaimed financial guru warned of a Big Brother-style, hostile government takeover.
“That’s if they go to the government crypto, the government Bitcoin, or whatever they call it… they’ll trace it.”
In September 2021, the author predicted a “giant stock market crash coming in October” that never materialized. Kiyosaki has doubled down on his predictions since, foreseeing an incoming “biggest stock market crash in the history of the world.” At time of writing, such a crash has yet to materialize. Kiyosaki maintains that such a crash is imminent.