Financial author Robert Kiyosaki, known for his book 'Rich Dad Poor Dad,' has once again expressed concerns about the decline of the US dollar and suggested alternative investment options.
Criticism of the US Dollar
In a recent social media post, Robert Kiyosaki asserted that the US dollar has lost approximately 95% of its purchasing power since the 1970s. He described the dollar as a 'fake currency' and indicated that holding money in fiat currency is a risky long-term strategy. Kiyosaki pointed to rising prices of essential goods and recounted a story about a peer who kept her savings in the bank, despite increasing inflation. According to him, such savings lose real value over time, as evidenced by the rising costs of basic items.
Bitcoin Growth Prediction
Recently, Kiyosaki also revealed that he had bought bitcoin again, emphasizing its long-term potential. He stated that he is willing to incur short-term losses for the prospect of significant gains and reaffirmed his prediction that bitcoin could reach one million dollars. He indicated that while he is comfortable risking $100,000 on bitcoin, the lessons learned from past investments are more valuable than the money itself.
Market Analysis and Predictions
Following Kiyosaki's criticism of the dollar, the price of bitcoin traded at $108,700, reflecting a 1.83% increase over the past week. Despite a 23% drop in 24-hour trading volume, the bitcoin market capitalization remained above $2.16 trillion. However, analyst Ali Martinez noted that even with Kiyosaki's optimistic forecast, the price of bitcoin might dip as low as $40,000 due to market uncertainties.
Overall, Robert Kiyosaki raises important questions about the financial stability of the dollar and suggests considering alternative investments like bitcoin amid rising inflation and economic instability.
