Author Robert Kiyosaki Backs Bitcoin: Will Buy More If Price Drops To $8,000 Or Lower
Robert Toru Kiyosaki is an American entrepreneur, businessman, and author. He is the founder of Rich Global LLC and the Rich Dad Company. He is also the author of the best-selling book titled “Rich Dad Poor Dad”. Kiyosaki has always favored crypto as an investment option and regularly encouraged people to adopt cryptocurrency.
According to Robert Kiyosaki, the price of bitcoin will reach $500,000 by 2025. He anticipates the price of gold to touch $5,000 and the price of silver to reach $500 in the same time frame. Moreover, Kiyosaki foresaw a “great crash” and a potential slump.
He has more to say on this. Let’s explore.
In the February 15th episode of The Rich Dad Radio Show, Kiyosaki spoke with a member of Doomberg, an anonymous Twitter account run by a small group of business experts from the commodities industry who are renowned for their knowledge of macroeconomic difficulties.
Kiyosaki shared his experience with purchasing Bitcoin in response to Doomberg’s belief that cryptocurrency, “at least in this first generation,” was “nothing more than a giant Ponzi scheme, where the sophisticated have fleeced the unsophisticated,” but that he was interested in the technology and might be persuaded to buy it at the right price.
He said that “I studied technical analysis, and what went to $20,000 went down to almost zero, which went back to $1,000, $2,000, $3000. I kept waiting for it to keep crashing, so when it hit $6,000, I backed up the truck and bought some.”
Kiyosaki predicted a market crash
Kiyosaki has emphasized his caution on market crashes. Kiyosaki tweeted on Friday that everything will crash, including gold, silver, and bitcoin, citing that 66,000 more employees have been laid off so far this year and that more than 144,000 people in the tech industry will lose their employment in 2022.
“Crash is here … Everything will crash including prices [of] gold, silver, bitcoin. Do not panic. Good news. I will buy more gold, silver, bitcoin, real money with fake $.”
The U.S. dollar is counterfeit money, according to Kiyosaki, because it was attached to the “full faith and credit” of the United States rather than real money like gold. Real money, on the other hand, includes silver, bitcoin, and gold.
It appears like Kiyosaki intends to leverage this situation to buy more crypto.
Many have agreed with Kiyosaki about his outlook and investment strategy for the upcoming recession. However, the general sentiment is that of fear amongst the crypto community.
The Bitcoin price currently is $23,884.69, and the total market capitalization is at $460,808,043,274.03.