Robert Kiyosaki Said Bitcoin Will Hit $50k Next Year

Robert Kiyosaki is the author of Rich Dad Poor Dad. The book has sold over 30 million copies and written in 51 languages. The book is a staple and should be in everyone’s library because it talks about financial literacy, something lacking in American.

The book is about Robert and his two dads, his real father (poor dad) and the father of his best friend (rich dad) and how the poor dad worked for money, but the rich dad made money work for him. If I had to sum up the book in two sentences it would be the wealthy buy assets, the poor only have bills and the middle class thinks they buy assets, but they are really liabilities.

Earlier this year Robert tweeted,

Lesson 5. SAVE MONEY: RU Nuts? Why save money when QE FED couterfeiting is printing trillions of fake dollars - $82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god's money or Bitcoin-people's money

Several months ago, Robert tweeted,

What happens when vaccine is proven? Gold silver Bitcoin will CRASH. Buying opportunity. Real problem NOT Pandemic. Real problem massive US debt. US Bankrupt. $28 T balance sheet debt. $120 T off balance sheet social obligations. Gold silver Bitcoin best investments long term.

Robert Kiyosaki called the United States “bankrupt” as national debt approaches $27 trillion, listing Bitcoin among the three “best” long-term investments. But with a vaccine, Bitcoin coin is sure to crash...perhaps and even debatable, but Robert thinks the crash will be a buying opportunity. I think the opportunity came and went in March as the COVID-19 has changed the meaning of a safe haven. I will give Robert credit because he did buy Bitcoin during the March lows.

Now Robert's book, Rich Dad Poor Dad came out more than 20 years ago. So it got me thinking, why is Robert resurfacing now. So I did a little research and found out he published another book in early 2021 and indirectly was advertising for it. The book is called, "Infinite Returns: Money for Nothing ― Gold, Silver and Bitcoin for Free."

The book will be about how the economic and social climate of 2020 has set the stage for a decade of unprecedented challenges as well as opportunities. Speaking of opportunities the other day he give his bitcoin price prediction for 2021.

Kiyosaki pinpointed that a “wall of institutional money” is coming to Bitcoin in 2021, which could push the price up further.

Based on the institutional inflow into Bitcoin, Kiyosaki noted that BTC below $20,000 is ideal, as $50,000 is the next target. He said:

“Glad I bought Bitcoin. Next stop $50k. Wall of institutional money coming 2021. Buy below $20k. 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.”

If Bitcoin hits $50,000, its market cap would reach $928 billion, which is around 10.3% of gold’s market cap compared with the current 2.9%.

Source

Bitcoin jumped to its highest level in nearly three years on Wednesday, and Galaxy Digital CEO Michael Novogratz believes the comeback rally is just getting started.

A $50k price for Bitcoin next year is a target I can get my head around. Mike Novogratz, a known cryptocurrency bull, sees bitcoin rising as high as $55,000 or $60,000 by the end of next year as it increasingly displaces gold in investors’ portfolios. JPMorgan Chase, the largest U.S. bank by total assets, notes that Bitcoin is eating away at demand for gold ETFs as banks, hedge funds, family offices, etc. now view Bitcoin as an alternative safe haven.

As I write, Bitcoin is now trading North of $20k, so we are only $30k away from Robert's $50k price target.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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