Robert Kiyosaki, the author of “Rich Dad, Poor Dad” is back at it again with his praise of bitcoin, the world’s number one cryptocurrency by market cap.
Robert Kiyosaki: Forget About Houses and Gold
In an interview conducted by top bitcoin investor and enthusiast Anthony Pompliano – who just last week convinced comedian Bill Burr to purchase BTC for the first time – Kiyosaki explained to listeners that gold and real estate no longer hold powerful sway in the United States, and that investing in bitcoin is the way of the future. He commented:
Real estate and gold guys are being phased out… the bitcoin world is coming into view right now… I think it’s important, especially for old guys like me, to understand the crypto world because that’s the world that’s coming into view right now and us real estate and gold guys are being phased out.
Robert Kiyosaki has been on a massive push for bitcoin since March when the coronavirus first began overtaking the global economy. The stimulus checks that the U.S. government issued set him on a Twitter rant that caused him to tell people that the death of the U.S. dollar was imminent, and that the rise of bitcoin was on the verge of happening. He told everyone to get involved if they didn’t want their financial lives affected by hardcore inflation.
In addition, he expressed confidence that the bitcoin price would spike to $75,000 in the next three years. He states:
There’s this battle on today between old guys and young guys. As an old guy, it’s taken me a while to get on to [bitcoin and crypto], but now I’m buying it.
BTC Is Part of the Financial Future
He states that he originally tried to purchase bitcoin in late 2017 when it struck nearly $20,000 per unit, though he says he did not complete any transactions at that time. However, the current economic conditions and the government’s reaction to the spread of COVID-19 has caused him to hop on board. He further writes:
Bitcoin and other cryptocurrencies are now challenging the hegemony of the U.S. dollar and other fiat currencies. In May 2020, a historic event cut the daily incoming supply of bitcoin from 1,800 bitcoin per day to 900 bitcoin per day, a sort of quantitative hardening, opposite of what the Fed is doing by printing trillions of dollars. Central banks, in simplest terms, create money out of nothing. They create ‘fake money’ and loan it to governments. Bitcoin, on the other hand, is completely decentralized, meaning that nobody can manipulate the market and there is not any single point of failure… It will be interesting to see how long the central banks will tolerate the competition from cyber money before there is a showdown.
At press time, bitcoin is trading for just over $9,200.