Renowned author and entrepreneur Robert Kiyosaki has expressed concerns that Bitcoin could potentially plummet to worthlessness. He considers Bitcoin just like any other fiat currency, labeling it as a scam or Ponzi scheme. Kiyosaki believes that continuous printing of trillions of dollars by the US government to pay off debts is leading the country toward bankruptcy. He advises against hoarding fiat currencies and recommends investing in assets like gold, silver, or Bitcoin. Kiyosaki admitted that Bitcoin's price might plummet to zero, but the risk is also present for other fiat currencies. The entrepreneur emphasized the importance of diversifying investments into assets other than traditional currencies.
Kiyosaki announced on March 25 his plan to buy an additional 10 BTC by April, citing the upcoming halving event in the cryptocurrency network. He also made a bullish prediction that Bitcoin's value could reach $100,000 by September 2024.
In light of the approval of spot Bitcoin ETFs in the US in January, Kiyosaki foresees a potential price surge to $150,000. He encourages people to divest from fiat currencies and transition to holdings like gold, silver, and Bitcoin.
Kiyosaki views Bitcoin as a safeguard against economic issues like inflation, taxes, and market manipulation. Given these concerns, he prefers to put his money in digital assets like Bitcoin and advocates for others to do the same.
In response to economic uncertainties in 2022, Kiyosaki recommended investing in Bitcoin and other cryptocurrencies as a hedge against a looming financial crisis. Despite setbacks like the FTX collapse, he remains steadfast in his support for digital currencies.
Throughout 2023, Kiyosaki reiterated the importance of investing in Bitcoin and metals due to crises in regional American banks. Additionally, he emphasized the significance of diversifying investments into Bitcoin before the launch of the US digital dollar.
Kiyosaki has been critical of central bank digital currencies (CBDC) and has consistently emphasized the importance of Bitcoin as a store of value and a safeguard against economic instability.
