Kiyosaki believes that the price of bitcoin will continue to rise to $500k in the coming years, purely due to inflation.
Robert Kiyosaki, author of Rich Dad Poor Dad, reiterates his investment strategy against global inflation. during a cnbc Interview, Kiyosaki said that global inflation has become a systemic problem. As a result, the seasoned investor advised people to double down on commodities like gold. Bitcoin, silver, and real estate. Kiyosaki said he is mostly interested in the rising prices of food, gasoline, real estate and gold.
As a result, investors note that they do not mind going into debt to acquire any of these items because inflation will pay them back. For example, gold prices have been on the rise since hitting bottom in October last year. According to the latest market data trading viewGold price has gained almost 11 per cent YTD on Tuesday to trade at around $2026.
On the other hand, the price of bitcoin, which is considered as the digital gold, has gained over 66% YTD. Interestingly, Kiyosaki noted that he does not invest in market equity with the exception of a few companies that he has taken public through initial public offerings (IPO,
Lastly, Kiyosaki notes that the banking industry is on the verge of collapse amid the rise of fintech and cryptocurrency markets. Furthermore, investors believe that the US dollar is depreciating against other global currencies, including digital assets.
Hey, God. The “best collateral” in the world, the 1-month T-bill went up by 100 basis points. Does this mean that the world banking system is collapsing?
So much for all the experts who recommended 1 month T-bills. Stay tuned with Gold, Silver, Bitcoin and Home Defense for now…not tomorrow.— Robert Kiyosaki (@theRealKiyosaki) May 7, 2023
Kiyosaki on banking failures and inflation
In particular, the investor highlighted that Fed Chair Jerome Powell is not serious about his fight against inflation, which will come at a significant cost to fiat holders. Furthermore, Kiyosaki asserts that the banking failures already experienced in the United States are partly due to the Fed’s financial mistakes.
“The whole system is in trouble. My biggest concern is that inflation is now systemic. When Powell said it was transitory, he was lying,” Kiyosaki Said,
Furthermore, the United States has recorded the highest number of banking failures YTD compared to other global markets. In particular, many regional banks in the United States have been absorbed by larger banks. JP Morgan, and Bank of America. Some of the victims include Silicon Valley Bank, Signature Bank and most recently First Republic Bank.
In all instances, banks have cited a sharp decline in overall deposits, causing bank runs. Coinbase Global Inc. (NASDAQ:COIN) have taken over the banking sector with digital assets like bitcoin that offer high returns over time.
Earlier, Kiyosaki issued a bitcoin price forecast, whereby investors see the asset seeing an inflation of $100k and $500k in the near future.
Nevertheless, crypto firms in the United States have complained about the lack of a proper regulatory framework to support the nascent technology. Already, several crypto firms including Ripple and coinbase Has expressed his interest in fleeing the United States market. Recently, crypto firm Bittrex announced the closure of its business in the United States following allegations seconds,
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