Robert Kiyosaki, the famous US businessman and best-selling author of “Rich Dad, Poor Dad,” has been vocal about his love for Bitcoin despite its current price slump. He is convinced that Bitcoin has enormous potential, and he predicts that the BTC price will reach $100,000. Kiyosaki sees Bitcoin as a safer investment than traditional assets like stocks and bonds because it is independent of governments, financial institutions, and central banks.
In his tweet, the businessman emphasized that Bitcoin as a decentralized currency does not need the Fed or government for a bailout simply because it is “the people’s money.” Being in a blockchain operating under a consensus mechanism, they have complete control of its direction. He also asserted his confidence in the same tweet that BTC will hit $100,000 at some point in time.
Reasons of Robert Kiyosaki for Investing in Bitcoin
Many people, including Kiyosaki, believe that investing in precious metals such as gold and silver will result in a profitable return in the near future. Nonetheless, Kiyosaki has a particular affinity for Bitcoin, and he has different justifications for this preference. He is of the opinion that the Federal Reserve, Treasury, and President Biden cannot be trusted entirely to correct the system or establish a fair playing ground for stakeholders. Likewise, he thinks that any increase in interest rates will have devastating consequences on stocks, bonds, real estate, and the US dollar. Kiyosaki firmly believes that this will result in a massive market crash.
Kiyosaki has been involved in Bitcoin investments since the year 2020. On the first of April 2020, he tweeted recommending buying Bitcoin together with gold. In mid-May 2020, he announced that he had invested in BTC at a price of $9,800. It is unclear though whether this was his first Bitcoin investment or a re-buy. Moreover, the businessman and author has been buying more gold and silver in addition to Bitcoin because he believes that precious metals are a hedge against inflation and currency devaluation.
Should Bitcoin reach the predicted value of $100,000, its market capitalization would be around $1.935 trillion compared to its present numbers at $546.50 billion. Nevertheless, even at the mentioned price point, Bitcoin’s market cap would still be seven times lower than that of gold’s current value.
Bitcoin is About to Revolutionize the System
Kiyosaki’s enthusiasm for Bitcoin is not limited to financial gain. He believes that Bitcoin and other cryptocurrencies have the potential to revolutionize the global financial system. He is not alone in his beliefs, as more and more people are realizing the potential of cryptos.
The bullish stance on Bitcoin of Robert Kiyosaki is not only a matter of financial gain but also a belief in its potential to revolutionize the global financial system. Despite its current price slump, Kiyosaki remains confident in Bitcoin’s potential to reach $100,000 and sees it as a safer investment than traditional assets due to its independence from governments, financial institutions, and central banks. His investment in Bitcoin, along with gold and silver, reflects his belief that precious metals are a hedge against inflation and currency devaluation. With Kiyosaki and many others seeing the potential of cryptocurrencies, we may be witnessing the early stages of a financial revolution.
Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines.
In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013.
Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO’s core management team, contributing to strategic planning and business development endeavors.