‘Rich Dad Poor Dad’ author reiterates Bitcoin investment
Gold’s recent push to an all-time high price is “great news,” according to author Robert Kiyosaki, who once again urged investors to put their money in the precious metal as well as Bitcoin (BTC).
The Bitcoin proponent and acclaimed author of the popular personal finance book “Rich Dad Poor Dad” took to social media, where he has a following of over 2.4 million, and name-dropped Bitcoin as a worthy investment pathway.
Kiyosaki’s latest statement aligns with his previous remarks on prioritizing investments in the leading cryptocurrency.
Recently, concerned by the potential impact of inflationary policies, the financial educator advised traders and investors to consider investing in BTC as a protective measure.
The bestselling author asserted that inflation, which he associated with Marxist ideologies, drives up prices while true capitalism strives to lower prices.
He claimed that the current American leadership may lean towards Marxist principles, forcing people to consider securing their wealth in gold, silver, or Bitcoin instead of the rapidly depreciating dollar.
Back in June, Kiyosaki also cautioned that numerous regional banks and mortgage firms were teetering on the brink of failure. He even forecasted a looming crash in the real estate sector, potentially more severe than the 2008 housing crisis.
Even then, his solution for the disaster was for Americans to accumulate Bitcoin and precious metals.
Kiyosaki also anticipates that Bitcoin’s value will breach the six-figure threshold by 2024. This prediction is based on his belief that the U.S. dollar’s strength will wane following the introduction of a new currency by the BRICS nations.
Others, like Warren Buffett, disagree. Earlier this year, the billionaire and legendary investor said he sees “no option for any other currency to be the reserve currency.”
Kiyosaki’s latest comment comes against a backdrop of Bitcoin maintaining a bullish price outlook. The cryptocurrency is currently trading at $37,453 per data from CoinGecko.
The price represents a 0.6% drop from 24 hours ago but a 2.64% increase in the past seven days. It recorded a 24-hour trading volume of $8.4 billion and boasts a market cap of $732.5 billion.
