Best-selling author Robert Kiyosaki has said he still invests in gold, silver, and Bitcoin because he doesn’t trust the US government. Kiyosaki predicted that investments in real estate and gold might not be the future of finance as the cryptocurrency comes into focus.
The New York Bestseller discussed bitcoin’s growth in a talk radio segment with crypto investor Anthony Pompliano. He predicted Bitcoin will play a significant role in the financial world shortly. The Japanese American author rose to fame in 1997 after publishing “The Rich Dad, Poor Dad.”
Now I’m Buying It
His bestselling book was to educate people on the significance of financial literacy. The book remains an influential figure in the financial industry, having sold over 40 million copies. The author predicted that the price of bitcoin could reach $75,000 within the next three years. He stated:
“As an old guy, it’s taken me a while to get onto [cryptocurrency], but now I’m buying it […] I think it’s important, especially for old guys like me, to understand the crypto world because that’s the world that’s coming into view right now and us real estate and gold guys are being phased out.”
Look For An Alternative
Kiyosaki’s price prediction came when gold reached its highest price in nearly ten years on July 9, 2020, when it broke $1,800. The ongoing economic fears over the Covid-19 pandemic and fears of possible inflation have made matters worse. In response, the Federal Reserve is printing billions of dollars forcing investors to look for an alternative fearing hyperinflation.
During the talk show, Kiyosaki said he has been following the bitcoin market’s fluctuations for a while. He praised Bitcoin for its concise characteristics and stated that conventional bankers and fiat money were slowly going to fade in popularity, as the Bitcoin world becomes more and more of a reality. The Rich Dad Poor dad author encouraged older investors to learn how to adapt and grasp the cryptocurrencies’ concept if they wished to remain relevant in the financial industry. He stated:
“I think it’s important, especially for old guys like me, to understand the crypto world because that’s the world that’s coming into view right now, and us real estate and gold guys are being phased out.”
Lots of Interest Worldwide
Kiyosaki assured his listeners he took his time before joining the bitcoin and crypto train and was now fully into it. His interest in Bitcoin piqued during the aftermath of the Covid-19 pandemic when the Federal Reserve printed money in bulk to attempt salvaging the economy. Bitcoin only recently underwent its third halving, cutting the supply by half and creating lots of interest worldwide.