As an author and businessman, Robert Kiyosaki is best known for his book, titled ‘’Rich Dad Poor Dad”. Given his prominent standing in the finance community, his support for Bitcoin is essential.
Why Is Kiyosaki So Optimistic About Bitcoin?
Kiyosaki wrote in a tweet that he had observed the largest cryptocurrency’s price reach $20,000 before losing virtually all of its value. He believed Bitcoin was dead at the moment. However, he acquired lots of BTC when it gradually increased to $6,000 in value.
Also, he claimed that the public supports Bitcoin, not the Federal Reserve or the government. According to Kiyosaki, Bitcoin is people’s money, so the Fed or the government didn’t need to save it.
He wrote the price of Bitcoin will become $100,000 in his tweet. He did, however, forecast in February that Bitcoin would reach $500,000 by 2025 while gold would achieve $5,000, and silver would reach $500 during the same timeframe.
Bitcoin’s Decentralized Nature
The author believes that the digital asset’s freedom from governmental or central bank control is one of its most important benefits. Bitcoin’s value is purely decided by the supply and demand market forces of supply and demand, unlike traditional currencies, which governments and central banks are able to control.
Due to the decentralized structure, cryptocurrencies are a well-liked investment choice for those worried about the volatility and instability of the established financial system.
Bitcoin’s Price Analysis
Due to a broad market decline, Bitcoin has had a difficult week, with its price falling to $28,000 over the past several days. Nowadays, the trading volume and value of Bitcoin decrease, but Kiyosaki is still hopeful about the cryptocurrency.
He believes that the US is about to see a financial collapse and that in order to secure their capital, investors should look for alternative assets, like Bitcoin.
Robert Kiyosaki also asserted that the US dollar is no longer the world’s reserve currency, which will cause a significant backlash. He thinks that other nations, especially China and Russia, are attempting to challenge the dollar’s supremacy and that the US is no longer the “playground bully”.