Reacting to Kiyosaki’s post, a crypto commentator stated that Bitcoin stands as a shield in this period when the price of fiat currencies depreciates so badly.
By Temitope Olatunji
Edited by Julia Sakovich
Updated
3 mins read
Robert Kiyosaki explained why he has always loved Bitcoin BTC $83 473 24h volatility: 1.8% Market cap: $1.66 T Vol. 24h: $52.58 B . The author of the popular novel Rich Dad, Poor Dad wrote this in his latest post on his X handle.
Kiyosaki, who has always been a critic of fiat currency, mentioned that saving in US dollars has always made him grow poorer. However, he grows richer every time he saves in Bitcoin, which has led to his love affair with the digital currency.
On October 13, Kiyosaki talked about a big change in US money rules from 1971. He said the US dollar became “fake” that year when President Nixon stopped backing the dollar with gold. Since then, the US dollar’s value has been supported by US Treasuries and bonds instead.
WHY I LOVE BITCOIN: When I save FAKE fiat US dollars I grow poorer.
When I save Bitcoin I grow richer.
That’s why I love Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) October 30, 2024
Reacting to Kiyosaki’s post, a crypto commentator stated that Bitcoin stands as a shield in this period when the price of fiat currencies depreciates so badly. The user noted that the goal isn’t getting rich but preserving the value of labor.
This is not the first time that Kiyosaki has expressed his love for Bitcoin. In a post-mid-this year, he claimed that the easiest route to becoming a millionaire is through BTC. He stated that making millions could be a hard nut to crack. However, he saves Bitcoin because it does the hard work for him, hence his love for the digital asset.
The financial educator has also been vocal about Bitcoin’s future. He has made several forecasts about the coin. He once predicted that the price of Bitcoin could hit $10 million in 2025. He recently mentioned that Bitcoin is expected to spike high in October, and it is also the moment for investors to buy more of the crypto coin, or they will miss out.
This remark from the popular book author came amid the ongoing price movement of Bitcoin. BTC has gone above $70,000 and is hovering around $72,000. Its price went up more than 2% in the last day and over 7% in the past week. This increase has many people wondering if it will rise above its highest price of $73,000.
Some experts think Bitcoin’s price might go up to $100,000. One analyst, Ash Crypto, said Bitcoin could reach $100,000 before the end of 2024. Another expert, Joshuwa Roomsburg, who founded ChainLeak, also predicted that Bitcoin would hit $100,000 by the end of the current market cycle, which would be about 1.3 times its price now.
“I believe Bitcoin will surpass $100,000 to close out this cycle. Now, you need to understand that BTC reaching $100k is only a 1.3x from here. There is no way to make life changing money on BTC this cycle. It’s cool to watch, and it will be a fun ride, but not life changing,” he said.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
