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'Rich Dad Poor Dad' Author Still Bets on Bitcoin, Says Gold May Crash

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Mon, 24/04/2023 - 10:13
'Rich Dad Poor Dad' Author Still Bets on Bitcoin, Says Gold May Crash
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Prominent investor, entrepreneur and writer, famous for authoring classic book on financial literacy "Rich Dad Poor Dad," Robert Kiyosaki, has taken to Twitter to share that he continues to bet on Bitcoin, although he also believes in gold and silver.

However, he has cited a prediction of a respectable fund manager who says that gold is about to crash.

"Bitcoin is real money," "gold to crash to $1,000"

Robert Kiyosaki says that fund manager Steve Van Meter, for whom he has great respect, expects the gold price to crash to $1,000. Per Kiyosaki, Meter believes markets are "tired of waiting for gold to go higher."

Should that price drop indeed happen, Kiyosaki says, he will buy more gold, since he is an investor and does not trade the assets he buys. Kiyosaki, who has been a vocal fan of BTC over the past three years, since the pandemic began, stated that for him, Bitcoin (as well as gold and silver) is real money, and "cash is trash."

In multiple earlier tweets, Kiyosaki said that he expects the USD to collapse soon as the Federal Reserve has been printing dollars backed by nothing and injecting them into the economy. Unlike other Bitcoin believers, he values both BTC and gold, adding silver to that list too. Gold is currently trading at $1,981. It reached an all-time high of $2,020 on April 5.

Related

Bitcoin to $100,000, per Kiyosaki

In a recent tweet, Kiyosaki assumed that Bitcoin might reach the $100,000 level soon. The reason for that remains the same as above — Kiyosaki does not trust the U.S. Federal Reserve. After the recent banking crisis that occurred in the U.S. in March  — when around 10 large banks, including Silicon Valley Bank and Signature Bank, shut down — a bailout by the U.S. government followed.

Bitcoin did not need to be bailed out by the Fed, Kiyosaki tweeted, when it fell below $20,000 because BTC is "people's money." Therefore, he expects the flagship cryptocurrency to soar to the $100,000 mark.

Prior to that, citing the same reasons, Kiyosaki said that by 2025, Bitcoin would reach $500,000. At the time of this writing, BTC is changing hands at $27,519.

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