Rich Dad Poor Dad Author Remains Bullish on Bitcoin – Predicts BTC to Hit the $100k by September 2024

Robert Kiyosaki, the renowned author of the personal finance book “Rich Dad Poor Dad,” has issued a stark warning about the state of the global economy.

He has advised investors to consider acquiring Bitcoin, silver, and gold as a hedge against impending financial turmoil.

In a recent social media post, Kiyosaki revealed his intention to purchase an additional 10 Bitcoins before April, citing the upcoming “halving” event as a primary reason.

The “halving” is a pre-programmed event that occurs roughly every four years, where the reward for mining new Bitcoin is cut in half, effectively reducing the supply of new coins entering circulation.

The Impending “Halving” and Bitcoin Potential

Kiyosaki believes that if the Bitcoin network operates as designed, the halving event could potentially drive the price of Bitcoin to $100,000 by September 2024. 

He recommends that those who cannot afford an entire Bitcoin should consider buying fractional shares through Exchange-traded Funds (ETFs) or by purchasing Satoshis, the smallest unit of Bitcoin.

“If the Bitcoin process works as designed, you may own a whole Bitcoin by the end of this year,” Kiyosaki wrote, emphasizing the potential for significant price appreciation.

Kiyosaki’s advice to invest in Bitcoin, silver, and gold stems from his grim assessment of the global economic situation. He cited several alarming factors, including the United States’ status as the “biggest debtor nation in the world. 

He emphasized China’s struggling property market, Japan’s prolonged economic stagnation since the 1990s, and Germany’s slide toward a depression.

Additionally, Kiyosaki pointed out that consumer spending increasingly relies on credit cards, banks face challenges, and the threat of war looms large globally.

Aside from BTC, Kiyosaki has also thrown his weight behind silver, suggesting that investors consider purchasing U.S. Silver Eagle coins. 

He cited his friend Andy Schectman, the president of precious metals dealer Miles Franklin, who claims that the once-abundant supply of silver is nearly gone.

According to Schectman, he has a standing order for $1 million worth of “junk” silver (pre-1964 U.S. silver coins). Still, he has been unable to find enough coins to fill the order, indicating a potential shortage in the market.

The Case Against Fiat Currency

Kiyosaki’s advocacy for alternative assets like Bitcoin, silver, and gold is rooted in his skepticism towards fiat currency, which he calls “fake” money. 

He echoed the sentiments of Michael Saylor, the CEO of MicroStrategy and a prominent Bitcoin proponent, who questioned the wisdom of those who insist on saving fiat currency.

Saylor’s rhetorical question, “What do you call people who insist on saving fiat currency…” fake” money?” was met with Kiyosaki’s blunt response: “Poor.”

In a passionate call to action, Kiyosaki urged his followers not to be “poor people saving fake money.” 

He emphasized that almost everyone can afford at least one silver coin or one BTC Satoshi, the smallest divisible unit of Bitcoin.

“Be smart, take action, and take care,” Kiyosaki implored, stressing the urgency of preparing for the impending economic turmoil by diversifying into assets like Bitcoin, silver, and gold.