Author Robert Kiyosaki said gold’s recent all-time high price rise was “good news” and once again urged investors to put their money into the precious metal as well as Bitcoin (BTC).
The Bitcoin advocate and author of the popular personal finance book “Rich Dad, Poor Dad” has over 2.4 million followers across social media and has cited Bitcoin as a worthy investment path.
Kiyosaki’s latest statement is consistent with his previous comments about prioritizing investments in major cryptocurrencies.
A financial educator concerned about the potential impact of recent inflationary policies advised traders and investors to consider investing in BTC as a protective measure.
The best-selling author argued that inflation associated with Marxist ideology raises prices, while true capitalism seeks to lower prices.
He argued that the current US leadership could lean towards Marxist principles and force people to secure their wealth in gold, silver or Bitcoin instead of the rapidly depreciating dollar.
Last June, Kiyosaki also warned that many local banks and mortgage companies were on the brink of failure. He even predicted an imminent collapse of the real estate sector, potentially worse than the 2008 housing crisis.
Nonetheless, his solution to the disaster was for Americans to accumulate Bitcoin and precious metals.
Kiyosaki also expects Bitcoin’s value to break the six-figure mark by 2024. This prediction is based on his belief that the introduction of new currencies in the BRICS countries will weaken the strength of the US dollar.
Others, such as Warren Buffett, disagree. Earlier this year, the billionaire and legendary investor said “no other currency can be a reserve currency.”
Kiyosaki’s recent remarks come against the backdrop of Bitcoin maintaining a bullish outlook. The cryptocurrency is currently trading at $37,453 per data from CoinGecko.
The price is down 0.6% since 24 hours ago, but is up 2.64% over the past 7 days. It recorded a 24-hour trading volume of $8.4 billion and boasts a market capitalization of $732.5 billion.