Bestselling Author Explains Why Bitcoin Will Reach $100,000
US businessman and best-selling author Robert Kiyosaki continues to see enormous potential in Bitcoin despite the current price slump. In a tweet from today, he predicts that the BTC price will reach $100,000. However, he does not reveal a time frame for this.
In the tweet, Kiyosaki shared his love for Bitcoin, citing its independence from governments, financial institutions and central banks as one of the main reasons for his prediction. According to the author of the best-selling book “Rich Dad, Poor Dad,” this feature makes BTC a safer investment than traditional assets like stocks and bonds. He tweeted:
I thought BTC finished. Slowly watched BTC climb to $6 k & I bought lots. WHY? Because people support BTC not FED or Gov. BTC did not need FED or Gov bailout because BTC people’s money. BTC to $100k. Long live BTC.
If Bitcoin were to reach this price, BTC’s market cap would be approximately $1.935 trillion. This would still leave Bitcoin’s market cap seven times lower than gold’s ($13.19 trillion) at current values.
Kiyosaki Advises Bitcoin As Well As Gold, Silver
In addition, the author also regularly recommends buying gold and silver in his tweets. He justifies this investment advice with an expected rise in the price of precious metals. Remarkably, the author is not alone in doing so.
But his preference for Bitcoin has other reasons. In a tweet on Tuesday, Kiyosaki wrote that the BTC price will continue to rise despite a 100% increase in a year. “I’m betting on it,” explained the author, who also revealed that he has been buying more gold and silver in addition to Bitcoin. “Why? Because the Fed, Treasury and Biden are liars,” Kiyosaki said.
In mid-March, he elaborated on that statement in more detail. The rich dad explained that Federal Reserve Chairman Jerome Powell has been fooling everyone. According to him, this will lead to a massive scale crash in traditional markets:
FED’s Powell F’ed everyone. Raising interest rates will crash stocks, bonds, real estate, & $ US dollar. NEXT CRASH: $ 1 quadrillion derivatives market. $ 1 quadrillion is $1 thousand trillion. God have mercy on our world. Klaus Schwab owns Powell, Yellin, & Biden’s souls.
Robert Kiyosaki Invests In Bitcoin Since 2020
Digging through the multi-millionaire’s Twitter feed, one can notice Kiyosaki’s enthusiasm for Bitcoin is dating back to 2020. On the first of April 2020, one of his first tweets surfaced in which Kiyosaki recommended buying Bitcoin in addition to gold.
In mid-May 2020, he announced that he had made further investments in gold and silver. In addition, he proclaimed for the first time publicly that he had also invested in BTC. By his own account, he bought BTC at a price of $9,800. However, it is unclear whether this was Kiyosaki’s first Bitcoin investment or whether it was a re-buy.
At press time, BTC was still struggling to hold above $28,000.
Featured image from 5ROI Global Info, chart from TradingView.com
