Robert Kiyosaki Backs Bitcoin Amid Dollar Decline

Robert Kiyosaki supports Bitcoin as a superior store of wealth, outperforming fiat currencies that are experiencing a decline in value.

Robert Kiyosaki articulated the reasons for his unwavering affection for Bitcoin. This was the most recent post by the author of the acclaimed novel Rich Dad, Poor Dad on his X account.

Kiyosaki, who has consistently been critical of fiat currency, stated that investing in US dollars has consistently resulted in his financial decline. Nevertheless, his increasing wealth with each Bitcoin investment has fueled his affection for Bitcoin.

Kiyosaki discussed a significant change in US money rules in 1971 on October 13. He stated that the US dollar became “fake” that year when President Nixon discontinued backing the dollar with gold. Subsequently, the value of the US dollar has been sustained by US treasuries and bonds.

In response to Kiyosaki’s post, a crypto commentator asserted that Bitcoin is a protective barrier during this period of significant depreciation in the value of fiat currencies. The user observed that the objective is not to accumulate wealth but to safeguard labor’s value.

Kiyosaki has previously expressed his affection for Bitcoin. In a post from mid-year, he asserted that the most straightforward method to becoming a millionaire is BTC. He stated that it may be challenging to accumulate millions. Nevertheless, he conserves Bitcoin because it performs tedious tasks for him, so he is affectionate for the digital asset.

The financial educator has also expressed his opinion on the future of Bitcoin. He has issued numerous predictions regarding the coin. He once predicted that the price of Bitcoin could reach $10 million in 2025. He has recently stated that Bitcoin is anticipated to experience a significant increase in value in October. This is also the time for investors to purchase additional crypto coins, or they will be unable to participate.

What Analysts Are Saying About the Bitcoin Price Surge

The author of a well-known book made this statement amid the ongoing fluctuations in the price of Bitcoin. BTC has surpassed $70,000 and is currently fluctuating at approximately $72,000. Its price has increased by over 2% in the past day and over 7% in the past week. Many individuals are still determining whether the price will surpass its previous high of $73,000 in light of this increase.

Certain experts believe that the price of Bitcoin could approach $100,000. Ash Crypto, an analyst, predicted that Bitcoin could surpass $100,000 by the conclusion of 2024. Joshuwa Roomsburg, the founder of ChainLeak and another expert, also predicted that Bitcoin would reach $100,000 by the conclusion of the current market cycle. This amount is 1.3 times its current price.

“I think Bitcoin will surpass $100,000 to conclude this cycle.” It would help if you now comprehended that the probability of BTC reaching $100,000 is only 1.3 times from this point. In this cycle, it is impossible to generate substantial revenue on Bitcoin. He stated, “It is enjoyable to observe, and it will be an enjoyable journey, but it will not have a profound impact on my life.”