Bitcoin Gains More Backing from Robert Kiyosaki Amidst Rising Value and USD Criticism

Robert Kiyosaki continues to endorse Bitcoin as its price surpasses $60,000.
Kiyosaki criticizes the US dollar and praises Bitcoin’s resistance to inflation and limited supply.

Robert Kiyosaki, renowned investor and author, continues to voice his support for Bitcoin (BTC) as its price exceeds $60,000 for the first time since 2021.

In a recent tweet, Kiyosaki praised Bitcoin for its strong performance and expressed concerns about the US dollar, which he believes to be unreliable and fake.

Kiyosaki’s Views on Bitcoin and Fiat Currencies

Kiyosaki, famous for his personal finance book “Rich Dad, Poor Dad,” has established himself as a vocal critic of fiat currencies and the current monetary system. He recently argued that money created by central banks, not backed by tangible assets like gold, lacks inherent value. He views Bitcoin’s limited supply and resistance to inflation as advantages over national currencies.

He stated that he owned and invested in Bitcoin because it is not affected by inflation and taxation, unlike fiat currency, which can be easily manipulated and stolen. Kiyosaki also accused Chairman Powell, Treasury Secretary Yellen, and Wall Street bankers of stealing wealth through inflation, taxation, and stock price manipulation.

Bitcoin’s Price Surge

Bitcoin’s price enjoyed a significant increase in 2023, rallying by more than 130% from January to December. The price has continued to surge in 2024, largely due to increased access to the coin by investors and traditional institutions. The price has surged from 40k to 62k, representing a little over 50% profit in 2024. This rally is happening as many institutional investors are now giving the coin attention through ETFs.

The price entering into the $60,000 zone, after rallying around the $50,000 zone throughout last week, is also indicative of the increased support that it has seen. Based on on-chain analytics by a popular analyst, the $54,300 and $56,200 zone now represent very strong support for the coin, as close to 1 million addresses have bought around 500,000 BTC at this level. From this, he also reveals that the price may not be slowing down anytime soon.

Many analysts have suggested the price could go as high as $100,000 and even higher, especially with the institutional pressure. Interestingly, Kiyosaki has said he would welcome a Bitcoin crash, as it would let him buy more at lower prices. This belief is based on the long-term value and potential of the coin.

In support of this, he made a bold prediction on BTC, as he believes the coin will rise to an all-time high of $100k USD. Kiyosaki argues Bitcoin is fulfilling its role as an alternative to the dollar, which he considers untrustworthy. While experts continue debating cryptocurrencies’ merits as real money, Kiyosaki sees Bitcoin’s recent performance as a vindication of its utility and value.