Bestselling Author Explains Why Bitcoin Will Reach $100,000
American entrepreneur and bestselling author Robert Kiyosaki continues to see enormous potential in Bitcoin despite the current price drop. In a tweet today, he predicts that the price of BTC will reach $100,000. However, he does not reveal a time frame for this.
In the tweet, Kiyosaki shared his love for Bitcoin, citing its independence from governments, financial institutions and central banks as one of the main reasons for his prediction. According to the author of the best-selling book “Rich Dad, Poor Dad”, this feature makes BTC a safer investment than traditional assets like stocks and bonds. He tweeted:
I thought BTC was over. Slowly I watched BTC rise to $6k and I bought a lot. WHY? Because people support BTC, not the FED or the government. BTC didn’t need the FED or government bailout because BTC people’s money. BTC to $100,000. Long live BTC.
If Bitcoin reached this price, the market cap of BTC would be approximately $1.935 trillion. That would still leave Bitcoin’s market cap seven times smaller than that of gold ($13.19 trillion) at current values.
Kiyosaki advises Bitcoin as well as gold, silver
Furthermore, the author also regularly recommends buying gold and silver in his tweets. He justifies this investment advice with an expected rise in the price of precious metals. Notably, the author is not alone in doing so.
But his preference for Bitcoin has other reasons. In a tweet on Tuesday, Kiyosaki wrote that the price of BTC will continue to rise despite a 100% increase in one year. “I bet on that,” explained the author, who also revealed that he has been buying more gold and silver in addition to Bitcoin. “Why? Because the Fed, Treasury and Biden are liars,” Kiyosaki said.
In mid-March he elaborate in that statement in more detail. Rich dad explained that Federal Reserve Chairman Jerome Powell was fooling everyone. According to him, this will lead to a large-scale drop in traditional markets:
Fed’s Powell F’ed Everyone. Rising interest rates will bring down stocks, bonds, real estate and US dollars. NEXT CRASH: $1 quadrillion derivatives market. $1 quadrillion is $1 trillion. God have mercy on our world. Klaus Schwab owns the souls of Powell, Yellin and Biden.
Robert Kiyosaki Invests in Bitcoin Since 2020
Scrolling through the multi-millionaire’s Twitter feed, it can be seen that Kiyosaki’s enthusiasm for Bitcoin dates back to 2020. On April 1, 2020, one of his first tweets surfaced in which Kiyosaki recommended buying Bitcoin in addition to gold.
In mid-May 2020, he announced that he had made new investments in gold and silver. Furthermore, he publicly proclaimed for the first time that he had also invested in BTC. On his own, he bought BTC at a price of $9,800. However, it is unclear if this was Kiyosaki’s first Bitcoin investment or if it was a buyback.
At press time, BTC was still struggling to hold above $28,000.
Featured image of 5ROI Global Info, chart from TradingView.com