In a tweet on April 21, he declared his love for the world’s largest cryptocurrency, citing its independence from government and central bank control as one of its primary strengths.
Kiyosaki’s tweet reminisces about the time when Bitcoin first hit $20,000 and then subsequently crashed to zero. He initially believed that the digital currency was finished, but over time, he watched as it climbed back up to $6,000. It was then that he decided to invest heavily in Bitcoin because, in his words, “people support BC, not FED or Gov.”
Kiyosaki is confident that Bitcoin will continue to rise in value, predicting that it will eventually reach $100,000. He believes that the currency’s popularity and adoption will continue to grow as more and more people recognize the benefits of using a decentralized currency that is not subject to the whims of governments or central banks as it does not need to be bailed out by the government or the federal reserve.
Kiyosaki on Bitcoin
One of the most significant advantages of the digital asset, according to the author, is its independence from government or central bank control. Unlike fiat currencies, which governments and central banks can manipulate, Bitcoin’s value is determined solely by the market forces of supply and demand.
This feature makes the cryptocurrency a popular investment option for people who are concerned about the traditional financial system’s instability and volatility.
Kiyosaki also had harsh words for the Federal Reserve, the Treasury, and President Biden, whom he accused this week of lying about the state of the US economy. In his opinion, the US is on the verge of a financial collapse, and investors should be looking for alternative investments like Bitcoin to protect their wealth.
He also predicted a massive backlash for the US dollar, stating that it is no longer the world’s reserve currency. He believes that the US is no longer the ‘playground bully‘ and that other countries, particularly China and Russia, are working to undermine the dollar’s dominance.