Everybody in the financial industry has some kind of opinion about cryptocurrency, and millions of Americans have considered taking the investment plunge.
Rich dads and poor dads alike debate the future of bitcoin, but the author of “Rich Dan Poor Dad,” Robert Kiyosaki, comes down firmly on the bullish side.
Kiyosaki predicted bitcoin’s price, currently in the $60,000 range, will not only double in the coming years, but rise another 10 times after that.
And he has a track record, having said last December that bitcoin, between $18,000 and $29,000 that month, would reach $50,000 in 2021.
Speaking with Kitco News last week, Kiyosaki advised that it’s not too late.
“There is always the entry point,” he said. “I bought bitcoin at $9,000 and I thought I was being fleeced but the reason I bought it at $9,000 was because Covid shut down the world economy. … I wish I bought it at 10 cents like a lot of people did.
“But now I look like a genius.”
So where will bitcoin land?
“I think it’s going to $1.2 million in five more years,” said Kiyosaki, who is clearly concerned for the dollar.
“The problem has grown too big, our pensions are going bust, baby boomers have no money, they shut down the economy,” he said. “The system is forcing all of us to become gold and silver and possibly crypto buyers right now.”
The book “Rich Dad Poor Dad” was published in 1997, co-authored by Kiyosaki and Sharon Lechter, and more than 32 million copies have been sold.
A final word of caution: While he’s a fan of bitcoin, Kiyosaki admitted: “I prefer gold and silver because bitcoin is still untested.
“But I have the wherewithal to withstand the hit if it goes down.”