Bitcoin’s creator, Satoshi Nakamoto, created Bitcoin in response to the 2008 financial crisis as an alternative to government-controlled money. Since then, Bitcoin has gone to spearhead the crypto industry, with many investors calling it digital gold. Now, renowned finance author Robert Kiyosaki has argued that Bitcoin price could reach $100,000 soon and go as high as $1 million.
Bold Prediction On Bitcoin
Robert Kiyosaki, best known for his bestselling book ‘Rich Dad Poor Dad,’ is known to make very bullish predictions on the price of Bitcoin. In a recent post on social media platform X, formerly known as Twitter, Kiyosaki tweeted of Bitcoin reaching 100,000 soon, calling it the “people’s gold.” However, a stock and bond market crash could see Bitcoin reach $1 million.
Kiyosaki also shared his predictions on gold and silver, calling them “GOD’S money.” According to the finance educator, gold and silver can reach $75,000 and $60,000 respectively if the world economy crashes.
BITCOIN to $100k. Saying for years gold&silver GOD’S money. BITCOIN peoples $. Bad news IF stock & bond market crash gold&silver skyrocket. WORSE NEWS IF world economy crashes BC $1 million Gold $ 75K silver to $60k. SAVERS of FAKE US $ F’d. DEBT too high. Mom, Pop & kids in…
— Robert Kiyosaki (@theRealKiyosaki) August 14, 2023
He explained that if the economy collapsed, the value of government-issued currencies would drop drastically. As people lose faith in fiat money, many would turn to Bitcoin and precious metals as an alternative store of value. The increased demand, coupled with the limited supply of Bitcoin, would cause the price to skyrocket.
Earlier this year, Kiyosaki made a similar claim regarding Bitcoin, touting a price of $500,000 for each Bitcoin by 2025. Michael Saylor, another big name in the finance sector, predicted a similar price of $1 million for BTC in the next few years.
What Is The Basis For The $1 Million Bitcoin Price Prediction?
Kiyosaki’s recent predictions about the US dollar, in particular, have come on the heels of the BRICS alliance, which is now gaining traction. BRICS, which is an alliance between the emerging economies of Brazil, Russia, India, China, and South Africa, has gained ground in its campaign to support the reduction of transactions in the US dollar and the promotion of trading and settlement in local currencies.
As a result, many names in finance have seen this as a plan to de-dollarize trades in the BRICS countries, with reports of Saudi Arabia and possibly Mexico and Japan joining them. Reports are also that the BRICS alliance is working on creating a new currency backed by gold to settle global trades.
According to Kiyosaki, the only saving grace for everyday investors is to get into real gold, silver, and Bitcoin as stores of value. “SAVERS of FAKE US $ F’d,” Kiyosaki tweeted.
Giant crash coming. Fake money-aka fist currency to die. BRUCS meeting in S. Africa August 22 to put nail in coffin of fiat…fake money. Get into real gold, silver & Bitcoin asap. Take care. End of fiat (fake) money near.
— Robert Kiyosaki (@theRealKiyosaki) July 13, 2023
BTC price continues to hold $29,000 support | Source: BTCUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com