Financial expert Robert Kiyosaki, author of "Rich Dad Poor Dad," recently addressed his followers on the X platform about the current market conditions.
Despite the market downturn, Kiyosaki sees opportunities for wealth creation. He pointed out the recent declines: the Dow Jones fell by 600 points, the Nasdaq dropped 2.4%, and the S&P 500 decreased by 6% from its recent high.
Kiyosaki reminded his 2.1 million followers that he had been predicting this market drop for years and now advises taking advantage of lower asset prices.
He emphasized a principle from his book, suggesting that economic downturns are prime times for the wealthy to acquire assets cheaply and increase their wealth.
In June, Kiyosaki made a notable prediction in the cryptocurrency sector, forecasting that Bitcoin could soar to $350,000.
He described this as his goal rather than a prediction and mentioned his investments in Bitcoin, Ethereum, and Solana.
Kiyosaki has consistently critiqued U.S. economic policies since 2020 and cites the growing national debt, now at $35 trillion, as a key reason for his optimistic cryptocurrency outlook.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.