"The Rich Rush In and Buy, and Buy Again"...Kiyosaki Signals Purchases Despite Crash Fears

Sharp Decline After Kevin Warsh Nominated as Fed Chair; Hawkish Stance
Kiyosaki: "It's on Sale... The Rich Are Buying More"

As the asset market continues to plunge following the nomination of Kevin Warsh as Federal Reserve Chair, bestselling author of "Rich Dad Poor Dad," Robert Kiyosaki, has announced plans to buy gold, silver, and Bitcoin.

Robert Kiyosaki stated, "When the financial asset market is on sale, that is, when a crash occurs, poor people sell and run away, but the rich flock in to buy, buy again, and buy even more." Getty Images

On February 2 (local time), Kiyosaki stated on X (formerly Twitter), "Right now, the gold, silver, and Bitcoin markets have crashed. In other words, they are on sale," adding, "I am waiting, cash in hand, for the moment to buy more gold, silver, and Bitcoin at these sale prices."

He said, "When there is a sale at Walmart, poor people flock in to buy, buy again, and buy even more. But when the financial asset market is on sale, that is, when a crash occurs, poor people sell and run away, while the rich flock in to buy, buy again, and buy even more." He concluded his post by asking, "What will you do?"

Robert Kiyosaki, author of the bestseller "Rich Dad Poor Dad." Kiyosaki SNS

According to the U.S. cryptocurrency exchange Coinbase, as of 8:24 p.m. on February 2, Bitcoin was trading at 11,255,000 won. This represents a decrease of 24.02 percentage points compared to a year ago, and a drop of 12.87 percentage points compared to a month ago.

Major cryptocurrencies such as Ethereum and XRP (Ripple) are also on a downward trend. At the same time, Ethereum was trading at 3,300,000 won and XRP at 2,345 won. Compared to a year ago, Ethereum has fallen by 21.53 percentage points, and XRP by 40.60 percentage points.

The market attributed the sharp decline in Bitcoin's value to President Trump's nomination of Kevin Warsh as the next Federal Reserve Chair. Although Warsh supports President Trump's stance on lowering interest rates, he has shown a hawkish tendency favoring monetary tightening in the past, and is expected to be particularly proactive in defending the dollar, prompting a sensitive reaction from the market.