Robert Kiyosaki, the writer of the book/manual Rich Dad Poor Dad, a financial best-seller for more than six years running, which has sold more than 32 million copies in 109 countries around the globe and has been translated into 51 languages, has a very clear position on the most highly capitalized cryptocurrency.
According to the author and economist, Bitcoin could hit new lows. Nevertheless, it remains a strategic asset with a great future.
Bitcoin’s future path according to Robert Kiyosaki
According to Kiyosaki, the $29,000 touched by BTC is only the beginning of a descent that is not yet ready to stop.
The economist believes that the rise in inflation was not only not understood and predicted by the Biden administration and the Fed, but was caused by an overly expansive monetary policy.
The billions of dollars printed by the Fed and bestowed by the US government to cope with the pandemic have been the subject of strong criticism coming not only from Kiyosaki, but also from a large group of investors.
On 18 May, Robert Kiyosaki tweeted:
“I remain bullish on Bitcoin’S future. Waiting for test of new bottom. 20k? 14k? 11k? 9k? Why do I remain bullish? Fed and Treasury are corrupt organizations. They will self-destruct before they regain honesty, Integrity and moral compass. Take care. Be aware”.
In essence, part of the financial community is thinking about new declines for Bitcoin.
According to the American entrepreneur and writer, the main cryptocurrency is expected to experience a big drop, while at first he expected the new low to be $17,000. He later stated that he had to correct the forecast downwards to $11,000/$9,000.
Not only Bitcoin: the dollar is also at risk
In March this year, he also warned about the trend of the US dollar, which he said was about to implode, suggesting ways out.
One solution to an eventual debacle of the world’s main trading currency could, according to Kiyosaki, be to differentiate one’s portfolio by holding gold, silver, and a mix of cryptocurrencies, which he identified as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
Kiyosaki’s position is not against cryptocurrencies; on the contrary, he considers them an asset to be harnessed and bet on in the long run. What he warns against, however, is vision.
They are a good investment and should be kept in the portfolio, but not many will survive, so one must be careful and bet on the most solid ones.
On the other hand, the entrepreneur’s view on the US dollar and central banks is bad, as they are destined to eventually implode and thus make way for a new digital currency (digital dollar) and a system in which a few cryptocurrencies will coexist and support the world economy.
Source: https://en.cryptonomist.ch/2022/05/23/robert-kiyosaki-bullish-bitcoin-9000/