Robert Kiyosaki, the bestselling author of ‘Rich Dad Poor Dad,’ recently encouraged his followers to purchase Bitcoin ahead of the upcoming April halving event. In a Twitter post, Kiyosaki announced his plan to buy 10 more BTC before April in anticipation of the event, which will reduce the rate at which new BTC is produced. He advised individuals who may not be able to afford a whole Bitcoin to consider buying fractions of a coin through ETFs or Satoshi’s, with the potential to own a whole Bitcoin by the end of the year.
Bitcoin’s price saw a surge of over 3.5% to $69,700 on Monday, following a rebound over the weekend from below $64,000. The cryptocurrency had experienced a significant pullback over the previous two weeks, with Bitcoin spot ETFs witnessing large outflows totaling over $800 million. Despite the recent volatility, Kiyosaki remains optimistic about Bitcoin’s future, predicting that it could reach $100,000 by September due to factors such as the weakness of the US dollar. He also recommended silver coins and gold as alternative investments for those who are not interested in Bitcoin.
Kiyosaki emphasized the importance of staying away from cash, likening Bitcoin to precious metals as a hedge against the devaluation of the US dollar. He echoed the sentiments of MicroStrategy executive chairman Michael Saylor, who stated that saving in cash or fiat currency could be detrimental to one’s financial wellbeing. Kiyosaki urged individuals to consider acquiring assets like gold, silver, and Bitcoin as a means of protecting their wealth, warning against saving in currencies that are subject to inflation.
Bitcoin’s limited supply of 21 million coins is often cited as a safeguard against currency debasement, particularly as the supply of the US dollar continues to increase. Kiyosaki highlighted the growing debt levels in the US, along with global economic uncertainties and potential military conflicts as reasons to prioritize alternative assets like Bitcoin. He encouraged his followers to diversify their portfolios and to be proactive in acquiring tangible assets that can preserve their purchasing power over time.
As of now, there are over 4.5 million Bitcoin addresses holding at least 0.1 BTC, in line with Kiyosaki’s recommendation of owning fractions of a coin. However, it is important to note that one investor can have holdings across multiple addresses, and one address can represent the holdings of numerous investors. Despite these complexities, the overarching message from Kiyosaki is clear: prioritize owning assets like Bitcoin, gold, and silver as a means of safeguarding your wealth in the face of economic uncertainties and currency devaluation. By taking proactive steps to secure your financial future, you can better protect yourself against the risks associated with traditional forms of currency.
