Bitcoin
Robert Kiyosaki defends Bitcoin as the easiest way to become a millionaire and speculates on US$350,000 by the end of the year.
Robert Kiyosaki defends Bitcoin as the easiest way to become a millionaire and speculates on US$350,000 by the end of the year.
In a recent CoinSpeaker report, Robert Kiyosaki, the renowned author of “Rich Dad, Poor Dad,” defended Bitcoin (BTC) as the most direct path to millionaire status. He also sees cryptocurrency as a shield against inflation and the impending economic crisis in the United States.
In his recent tweet on X, he wrote: “BITCOIN is the easiest way to become a millionaire.” Explaining that he saves Bitcoin because Bitcoin does the “hard work” for him. He proposed that while entrepreneurship requires intelligence, commitment and a touch of fortune, accumulating wealth through Bitcoin is a less complicated process.
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His followers echoed his views, emphasizing Bitcoin’s decentralized and secure features. One user highlighted the immutability of Bitcoin’s transaction record, which inhibits modifications or meddling.
In some ways, he is not wrong as we look at the story of how traders who held meme coins like DOGE have outperformed their portfolio predictions over the years. The largest wallet started buying DOGE in the summer of 2023 and became the largest holder of the token within a month. The wallet remains 31 billion DOGE, it is currently worth US$5.9 billion. At its peak, the wallet contained 33 billion DOGE, worth up to $6.9 billion.
Investment research firm Game of Trades highlighted Bitcoin’s long-term potential, stating that it remains undervalued, especially in times of currency devaluation. Kiyosaki’s post also highlighted the potential for cryptocurrencies instead of traditional investments like gold and silver.
Kiyosaki has previously expressed skepticism about the conventional model of earning money from regular jobs, arguing that such income is vulnerable to taxes and inflation. He touted cash-flow assets such as rental properties, oil and food production as superior sources of “tax-free money.”
Furthermore, Kiyosaki warned of a potential US market crash that could escalate into war, leaving Bitcoin as the only viable economic safeguard. He blamed the potential crisis on President Biden, Treasury Secretary Janet Yellen and Fed Chairman Jerome Powell.
Despite the recent 3% drop in Bitcoin’s value, Kiyosaki remains optimistic about its potential, predicting a price of $100,000 by the end of June. In fact, Kiyosaki wrote earlier this week in X“I am confident that Bitcoin will reach $350,000 sometime in 2024, but it is just a goal, a dream and a wish.”
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This article Robert Kiyosaki defends Bitcoin as the easiest way to become a millionaire and speculates on US$350,000 by the end of the year. originally appeared in Benzinga. with
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