Key Points
- Robert Kiyosaki, author of “Rich Dad Poor Dad”, advocates for Bitcoin as the easiest path to becoming a millionaire.
- Kiyosaki perceives Bitcoin as a hedge against inflation and economic crisis, and sees potential for its price to reach $300,000 by end of 2024.
Robert Kiyosaki, famed author of “Rich Dad Poor Dad”, has expressed his belief that investing in Bitcoin (BTC) is the simplest route to achieving millionaire status.
He compares the effort involved in becoming a millionaire through entrepreneurship to the relative ease of saving in Bitcoin, and openly expresses his affection for the cryptocurrency.
Kiyosaki’s Preference for Bitcoin Over Traditional Assets
Many of Kiyosaki’s followers agree with his stance on Bitcoin. One user pointed out the often overlooked decentralized and secure nature of Bitcoin, highlighting its immutable transaction ledger.
Data-driven investment research entity, Game of Trades, also emphasized Bitcoin’s long-term potential, particularly as an undervalued asset during times of increasing currency debasement.
Kiyosaki’s views underline the potential of cryptocurrencies over traditional investments such as gold and silver. He has previously criticized the conventional model of earning money from regular jobs, arguing that the value of such money is designed to be eroded through taxes and inflation. Instead, Kiyosaki promotes cash flow assets like rental properties, oil, and food production as a better way to earn “tax-free money”.
Bitcoin as a Hedge Against Economic Challenges
Beyond its potential to create millionaires, Kiyosaki sees Bitcoin as a protection against inflation and the economic crisis in the United States. He has suggested that a US market collapse could lead to war, with Bitcoin serving as a safeguard against the resulting economic challenges.
Kiyosaki is optimistic about Bitcoin’s potential as a financial instrument. At the time of his comments, Bitcoin was trading at $67,348.40, despite a 3% decrease within the last 24 hours. However, he sees the possibility of its price reaching $100,000 by the end of June and even $300,000 per coin by the end of 2024.
Bitcoin is also seen as an alternative to the potential collapse of the United States dollar. Kiyosaki has cited the threat from BRICS nations who are reportedly developing an alternative currency for cross-border settlements.
