„Rich Dad, Poor Dad“ author Robert Kiyosaki predicts a BTC price of $50,000 on Twitter.
In addition to buying the cryptocurrency, he also advises buying gold and silver. However, the financial guru is not without controversy.
US businessman and best-selling author Robert Kiyosaki continues to see enormous potential in Bitcoin. In a tweet in mid-December 2020, he expressed his delight at his investment in the digital store of value, predicting that the Bitcoin price would rise to $50,000 in 2021 and advising people to buy the cryptocurrency.
Glad I bought Bitcoin. Next stop $50 k. Wall of institutional money coming 2021. buy below $20 k. If you missed Bitcoin, buy silver. Silver set to move due to AOC’s Green New Deal. America in trouble. Future bright for gold silver Bitcoin and entrepreneurs.
– therealkiyosaki (@theRealKiyosaki) December 13, 2020
That would equate to a BTC market cap of $1.05 trillion. This would make bitcoin’s market cap only nine times less than gold’s ($9 trillion). Currently, the difference is still just under 12 trillion US dollars (as of January 11, 2021).
In addition to Bitcoin and gold, silver is also a worthwhile investment
In addition, the author of the bestseller „Rich Dad, Poor Dad“ also recommends buying gold and silver. In particular, Kiyosaki advises an investment in silver for those who missed out on having purchased Bitcoin below $20,000. He justifies this investment with an expected rise in the price of the precious metal. The real estate mogul is not alone in this. Already in August last year, analysts at Bank of America assumed that the price of silver could rise to as much as 50 U.S. dollars per ounce in 2021 if Joe Biden won the U.S. election. According to the money house, a significantly increased demand for the precious metal by industrial companies would thus arise, favored by the Green New Deal. As an example, the analysts cite the solar sector. Here, silver is an important component of photovoltaic systems. In addition, silver also has the characteristic properties of a store of value. Currently, the price of the precious metal is 25.47 U.S. dollars (as of January 11, 2021).
Robert Kiyosaki invested in bitcoin since 2020.
Scouring the Twitter feed of the multi-millionaire, one can notice an enthusiasm for cryptocurrencies from March 2020. On the first of April 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 further investments in gold and silver. In the process, he had also invested in bitcoin. According to his own statements at a rate of 9,800 US dollars. It is unclear whether it was Kiyosaki’s first investment or whether it was a follow-up purchase. In the tweet, he assumed a price increase to 75,000 US dollars in the next three years.
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. predict $3000 in 1 year. Silver @$17. Predict $40 in 5 years. Bitcoin @$9800. predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
– therealkiyosaki (@theRealKiyosaki) May 16, 2020
Robert Kiyosaki polarizes
For all his expertise in the investment field and the success of his best-selling books, Kiyosaki is not considered uncontroversial. Some, for example, criticize his financial tips as too blunt. Robert Farrington works, among other things, as a financial advisor for students who want to lower their student fees. In a post on his website, thecollegeinvestor.com, he takes Kiyosaki to task. For example, he said, Farrington is bothered that many would view the best-selling author as a financial guru, even though he has done nothing more than sell his „story“ expensively.
Forbes took up another point of criticism in 2012. At the time, one of Kiyosaki’s companies, „Rich Global LLC,“ intentionally filed for bankruptcy so that it would not have to settle its $24 million debt to the educational company „The Learning Annex.“ The article also criticizes the fact that virtually nothing is known about the „Rich Dad“ from whom the financial advisor with Japanese roots is said to have received all his tips. Just as little, as over the fortune Kiyosakis before the publication of the best-seller.
There is also criticism of the book itself, which paved the way for the supposed real estate mogul’s success. For example, John T. Reed, also an entrepreneur, author and former real estate investor, describes „Rich Dad, Poor Dad“ as:
[…] one of the dumbest financial guides I have ever read. It contains many factual errors and numerous extremely improbable accounts of events that supposedly took place.
Kiyosaki, he says, is a salesman and motivational speaker. Furthermore, he has no financial expertise whatsoever.