Robert Kiyosaki, acclaimed author of “Rich Dad Poor Dad,” recently endorsed Bitcoin (BTC), gold, and silver as today’s “bargains.” He also expressed concerns about a potential downturn in the stock market.
In a tweet from Wednesday, Kiyosaki shared that he often gets questions about the projected values of assets like gold, silver, and Bitcoin for the year 2025.
Instead of focusing on future prices, he emphasized, “The more crucial question is: how many gold, silver, and Bitcoins do you possess NOW?”
Kiyosaki further highlighted the present-day appeal of these assets due to their attractive pricing.
“Gold, silver, and Bitcoin are deals today… but perhaps not tomorrow.”
The well-known critic of traditional currencies also raised alarms about an upcoming stock market downturn. He anticipates that a slump in stocks, bonds, and real estate will push investors towards assets such as Bitcoin, gold, and silver.
Kiyosaki Remains a Bitcoin Proponent
Kiyosaki has consistently championed Bitcoin, often favoring it above other alternative cryptocurrencies.
Earlier in the year, he disclosed his intentions to increase his Bitcoin holdings, noting its classification as a commodity, akin to gold and silver. Conversely, he pointed out that many altcoins are seen as securities, and expressed concerns about how “SEC regulations might heavily impact them.”
The renowned author hasn’t shied away from making bold forecasts either. In February, he predicted that Bitcoin’s value could soar to $500,000 by 2025.
Conversely, Kiyosaki believes that traditional fiat currencies, especially the US dollar, are on a decline. He attributes this depreciation to excessive monetary policies that pump money into the system, leading to spiraling inflation.
He shared his sentiments via a tweet during a major cryptocurrency event in Singapore: “In Singapore at the same time a massive crypto conference is on. Very exciting. Crypto is the future. Fiat…a.k.a. FAKE money is toast.”
— Robert Kiyosaki (@theRealKiyosaki) September 17, 2023
“Rich Dad Poor Dad,” Kiyosaki’s 1997 publication, underscores the significance of financial education, the pursuit of financial independence, and wealth accumulation through avenues like asset investment, real estate, entrepreneurship, and bolstering one’s financial acumen.
The book’s profound impact is evident as it maintained a spot on the New York Times Best Seller List for over half a decade.
Bitcoin Breaks Above $27,000 For First Time in September
On Monday, Bitcoin surged past the $27,000 threshold, marking a 3.7% hike to reach $27,418 before experiencing a slight pullback.
Currently, the premier cryptocurrency is valued at approximately $27,100, showing negligible change in the last 24 hours.
Over the previous week, the cryptocurrency has seen an upward trend, increasing by around 4%, and it has risen by roughly 5% in the past month.
This positive momentum precedes the Federal Open Market Committee (FOMC) gathering set for September 19-20.
Many anticipate the Federal Reserve to maintain consistent borrowing rates during this session. It’s noteworthy that when rates ascend, high-risk assets, including cryptocurrencies, often become less enticing for investors.
“Bitcoin showcased resilience after grappling with the $25,000 support level for a while. Traders operating within ranges might be keen on pocketing profits as the cryptocurrency approaches the $30,000 mark,” stated Mati Greenspan, the CEO of Quantum Economics, in a conversation with Bloomberg.
