Rich Dad Author Bullish on Bitcoin Amid US Economic Fragility

Robert Kiyosaki, the author of the popular ‘Rich Dad Poor Dad’ book has once again shared his bullish outlook over precious metals like Gold and Silver, as well hope around Bitcoin.

In his recent tweet, Robert Kiyosaki explains that Gold and silver are precious metals believed to be gifts from God. However, gold is much more costly than silver. Silver, which is used in industries and becoming scarcer, seems like a better value to me for long-term investment. The great thing is, anyone can invest in silver, he adds.

Currently, Gold is trading at a price of $1,195 per ounce in the US. On the other hand, the spot Silver price is currently at $22.69 per ounce.

Gold &Silver Gods$ put on earth by God. Problem gold is multple X more expensive than silver. Silver an industrial precious metal growing more rare as used up. To me silver is better bargain as long term investment. Best of all everyone can silver. Get it? Got it? B4Gone?

— Robert Kiyosaki (@theRealKiyosaki) August 14, 2023

While Gold has a higher barrier to entry, the same is not the case with Silver and of course Bitcoin. Kiyosaki has been bullish throughout the year on Gold, Silver, and BBTC citing fragility in the US economy. He also noted that with America’s debt going up, the value of the US Dollar is likely to erode with time and Gold, Silver, and Bitcoin shall play a greater role here.

Last month, Robert Kiyosaki stated that he expects the Bitcoin price to reach $120,000 in the near term. He expects BTC to hit this milestone as soon as the next year in 2024. As we know, the Bitcoin blockchain will be undergoing halving in mid-2024 and thus many analysts are already bullish about the price rally.

Analysts Views on Gold and Bitcoin

Top leaders from global financial companies have shared their opinions on Bitcoin. BlackRock CEO Larry Fink recently showered praise on Bitcoin after applying for spot Bitcoin ETF in June this year.

Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, has shared his perspective on the ongoing debate between Bitcoin and gold. Notably bullish on gold, Dalio expressed his preference for gold over Bitcoin.

Despite holding a small amount of BTC, he believes that Bitcoin’s role as digital gold is unproven due to its volatility, which raises concerns about its suitability as a store of value or currency. In contrast, Dalio values gold’s stability, historical reliability, scarcity, and inherent value, making it a trusted asset for wealth preservation over thousands of years.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.