Robert Kiyosaki, acclaimed author of “Rich Dad Poor Dad,” recently touted Bitcoin (BTC), gold, and silver as current “steals,” cautioning about an upcoming stock market downturn.
In a recent tweet, Kiyosaki mentioned the common queries he receives regarding future prices of assets such as gold, silver, and Bitcoin by 2025.
He responded by saying such a question misses the mark. “The real question should be: How much gold, silver, and Bitcoin do you hold NOW?”
He emphasized that these assets are presently priced attractively, making them compelling investment choices.
“Today, gold, silver, and Bitcoin are deals… not so much tomorrow.”
Additionally, Kiyosaki, a long-standing critic of fiat currency, sounded the alarm on a looming stock market plummet. He anticipates that a slump in stocks, bonds, and real estate will nudge investors towards assets like Bitcoin, gold, and silver.
Kiyosaki Remains a Bitcoin Proponent
Kiyosaki has consistently championed Bitcoin, often favoring it over alternative cryptocurrencies.
Earlier in the year, he disclosed his intention to accumulate more BTC, citing its classification as a commodity similar to gold and silver. In contrast, he noted that most altcoins are viewed as securities, implying they might be vulnerable to stringent SEC regulations, which could stifle their growth.
The renowned author doesn’t shy away from making bold forecasts, either. In February, he predicted that the price of Bitcoin could soar to $500,000 by 2025.
Conversely, Kiyosaki believes that traditional fiat currencies, especially the US dollar, are on a path of devaluation. He attributes this potential decline to massive infusions of money into the economy, which he suspects will lead to unchecked inflation.
His 1997 book, “Rich Dad Poor Dad,” underscores the significance of financial education, independence, and the creation of wealth through asset acquisition, real estate ventures, entrepreneurship, and the enhancement of financial acumen.
This influential work has not only garnered acclaim but has also secured a spot on the New York Times Best Seller List for an impressive duration of over six years.
Bitcoin Breaks Above $27,000 For First Time in September
On Monday, Bitcoin surged past the $27,000 threshold, reaching a peak of $27,418 with a 3.7% increase before paring back some of its gains.
Currently, the premier cryptocurrency is hovering around $27,100, showing marginal movement over the last 24 hours.
Over the previous week, Bitcoin has witnessed a growth of over 4%, and its monthly increment stands close to 5%.
This uptick in value precedes the forthcoming Federal Open Market Committee (FOMC) assembly slated for September 19-20.
In this meeting, there’s an anticipation that the Federal Reserve will maintain the borrowing rates. Typically, higher rates can diminish the appeal of riskier assets, including cryptocurrencies.
Mati Greenspan, CEO of Quantum Economics, commented to Bloomberg about the digital currency’s resilience. “Bitcoin managed to hold its ground after grappling with the critical $25,000 support level. Those trading within a range might be eyeing profit-taking opportunities slightly north of $30,000.”
