Ever since its inception, Bitcoin has been the market leader in cryptocurrency. People have claimed that BTC will be touching new heights, citing its ability to change the global financial demographic. Rich Dad Poor Dad author Robert Kiyosaki recently claimed his love for Bitcoin and expected it to reach $100k.
Robert Kiyosaki Loves Bitcoin
During a recent Rich Dad show, Robert Kiyosaki shared his love for Bitcoin and revealed his expectation to see BTC soon touch the $1,000,000 Mark. He pointed out that, unlike fiat, cryptocurrencies don’t require Fed or government bailouts, as it’s “people’s money.”
In his April 21 Tweet, he explained how years ago, he watched the volatility of Bitcoin when it touched the $20,000 mark and dropped to almost nothing. He thought BTC was finished then, but when it climbed to around $6,000, he purchased “lots” of it. During the show, he also recalled buying a few more BTCs when it touched $9,000.
Kiyosaki is well-known for providing financial advice simply and understandably through his books and shows. He has been recommending Bitcoin alongside commodities like gold and silver as suitable investments for some time. Even though he wishes BTC to touch the $1M mark, he predicted that the cryptocurrency would hit $500,000 by 2025, silver would be around $500, and gold could hit $5,000.
The author is also known for repeatedly arguing about the U.S. economy and the U.S. dollar’s direction. However, in March 2023, Kiyosaki predicted a crash landing while arguing that the hike in the interest rates by the Federal Reserve would crash stocks, bonds, real estate, and USD. The author also gave a warning about hyperinflation.
On March 13, 2023, Kiyosaki reiterated his Bitcoin, Gold, and Silver recommendations. Referring to the bailouts and closure of Silicon Valley Bank and Signature Bank, He said that the Fed would not inject more “fake money” into the “sick economy.”
After the fall of these banks, the U.S. Treasury Department, The Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board issued a joint statement that the depositors of SVB and Signature Bank would be paid in full without any burden to taxpayers.
Robert Calls the U.S. Dollar- fake money
Kiyosaki calls USD fake money because it is backed simply by the faith and credit of the U.S. government instead of being tied to or pegged by real money or an asset or commodity like gold. The U.S. is about to bring back the gold standard for its currency, where a certain amount of gold would back the USD.
The famous book Rich Dad Poor Das was published in 1997 and was co-authored by Sharon Lecher. Since then, it has changed countless lives and was even on the list of the New York Times for over six years. The famous book has been sold in more than 109 countries, translated into over 51 different languages, and sold over 32 Million copies.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
