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frAuthor of “Rich Dad, Poor Dad”: I’m Old but I Buy Bitcoin
In a July 8, 2020 interview with Anthony Pompliano on Robert Kiyosaki’s radio show, the author of the book ‘rich dad poor dad’ said that traditional investments such as real estate and gold could be overtaken by the crypto that starts to attract attention.
‘The Death of the Dollar’
But who is this famous Kiyosaki? Kiyosaki became famous when he published ‘Rich Dad, Poor Dad’ in 1997. The Japanese-American author took it upon himself to educate people about the importance of financial literacy.
Published in 1997, Rich Dad, Poor Dad advocated the importance of financial education and became a New York Times bestseller. His book has sold approximately 40 million copies worldwide and he remains an influential figure in the financial industry to this day.
Being a great businessman, Robert Kiyosaki also uses his platform to expose the virtues of Bitcoin and Blockchain technology. In April, the author of the popular book ‘Rich Dad Poor Dad’, had already spoken about the death of the US dollar and how one should ‘take the free money from the government to buy Bitcoin. »
The famous author urged people to give up saving traditional fiduciary currencies devalued in favor of gold or bitcoin.
He went on to say:
‘People desperately need money…If the government gives you free money, take it, but spend it wisely. DON’T SAVE…Why save money when the Federal Reserve (FED) is printing trillions of fake dollars — from $82 billion a month to $125 billion a day? …Buy gold, silver, bitcoin. The dollar is dying…’
‘THE DOLLAR IS DYING.’ «The 1971 dollar has become a debt. Debt makes the rich richer. Debt makes the POOR poorer. IF the U.S. Debt-to-GDP ratio is 60%, the world is healthy. Today, the U.S. debt-to-GDP ratio is 110% and rising.
The United States is bankrupt. Debt, dollars, greed destroying lives, and a world economy that is today VERY LOW. Save gold, save silver, save Bitcoin.’
In a May 16th tweet, Kiyosaki maintained that his fear of a dying economy has led him to buy more than three assets that he ostensibly considers valuable outside the traditional financial system: Gold, Silver, and Bitcoin (BTC).
The author’s tweet:
‘Bought more gold, silver, and bitcoin. GOLD [currently] at $1,700. Plan on $3,000 in a year’s time. Silver [currently] at $17. Anticipate $40 in 5 years. Bitcoin [now] at $9,800. Anticipate $75,000 three years from now.’
Young or old, it’s important to understand cryptos
Cryptocurrency will play a major role in the future, and the price of Bitcoin has been stagnating over the last two months, despite the announcement of the intention of many experienced investors to buy Bitcoin.
Anthony Pompliano, one of the best known in the cryptosphere under the pseudonym ‘Pomp’, and Robert Kiyosaki discussed this, while Kiyosaki warned of the ‘phasing out of real estate and gold and the Bitcoin world that is now emerging’.
Bitcoin’s popularity with traditional investors has increased in recent months as governments and central banks take drastic measures to compensate for the economic damage caused by the coronavirus pandemic.
Kiyosaki said it took some time to get used to cryptocurrency:
‘There’s this battle today between the old and the young’, referring to investors like Warren Buffett, known as the Oracle of Omaha, who is ‘anti-crypto’. ‘As an old man, it took me a long time to get used to crypto, but now I’m buying it.’
The author even predicted that the price of Bitcoin (BTC) will reach $75,000 within three years. He told listeners of his radio show:
‘I think it’s important, especially for old people like me, to understand the world of crypto because that’s the world we’re in right now and we real estate agents and gold diggers are being phased out’.
Do not put the majority of funds into cryptocurrency?
During Kiyosaki’s precision, gold reached its highest price in 10 years on July 9 by exceeding the key resistance threshold of 1800 dollars.
Meanwhile, economic fears due to the coronavirus are increasing and letting the Federal Reserve print more money, which has led many traders/investors to look for alternatives to place their investment. In addition, Bitcoin has also experienced its third halving, which has increased Kiyosaki’s interest in Bitcoin.
In fact, Mr. Kiyosaki wrote in the margin of the radio interview
‘Bitcoin and other crypto-currencies now challenge the hegemony of the US dollar and other fiat currencies’.
On the other hand, according to a report by Cointelegraph, the Bitcoin bull, Michael Novogratz of Galaxy Digital, has recommended not putting the majority of his funds into cryptography. He stated:
‘I feel Bitcoin outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility’.
Written by Laetisia Harson
Cartam: Free marketplace for cryptocurrency users
