Thomas Daniels
Gold’s recent surge to a record high price is being hailed as “excellent news” by Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad.” Kiyosaki, a strong advocate for Bitcoin (BTC), has once more recommended that investors consider both gold and Bitcoin as investment options. With a substantial social media following of over 2.4 million, he has highlighted Bitcoin as a promising investment avenue.
Kiyosaki’s recent statements are in line with his earlier advice about focusing on the top cryptocurrency for investment. Amid concerns about the effects of inflationary policies, Kiyosaki, as a financial educator, has suggested that traders and investors look towards BTC as a hedge. He argues that inflation, which he links to Marxist ideologies, tends to increase prices, whereas true capitalism aims to reduce them. He suggests that the current U.S. leadership’s leanings towards Marxist principles are pushing people to safeguard their wealth in alternatives like gold, silver, or Bitcoin, rather than the depreciating dollar.
In June, Kiyosaki warned of the potential collapse of various regional banks and mortgage companies, predicting a real estate crash potentially worse than the 2008 crisis. His advice during this period was for Americans to accumulate Bitcoin and precious metals.
Furthermore, Kiyosaki predicts that Bitcoin’s value will surpass $100,000 by 2024. This forecast stems from his belief that the U.S. dollar will weaken with the emergence of a new currency by the BRICS nations.
In contrast, Warren Buffett, the billionaire investor, expressed earlier this year that he doesn’t see any alternative currency replacing the U.S. dollar as the reserve currency.
Kiyosaki’s latest remarks coincide with Bitcoin’s strong price performance. Currently, Bitcoin trades at $37,453 according to CoinGecko data. This price indicates a slight 0.6% decrease from the previous day but shows a 2.64% rise over the past week. Bitcoin has a market cap of $732.5 billion, with a 24-hour trading volume of $8.4 billion.
