There are many investors that are still hesitant to get involved with Bitcoin. They make comments like cryptocurrencies are hard to own, BTC is for criminals, and other sentiments along those lines.
Yet a prominent financial educator and entrepreneur says that owning Bitcoin, silver, and gold is a wise decision. Here’s why he thinks so.
ROBERT KIYOSAKI: GOT GOLD, SILVER, AND BITCOIN?
He cited the increase in so-called “zombie companies” and their respective debts, purportedly at $900 billion. Kiyosaki writes that the debt “zombies” have will pass $1.6 trillion next year, putting risk on the Federal Reserve.
To combat this trend, alongside a potential debt crisis and money printing, Kiyosaki has effectively prescribed Bitcoin, silver, and gold. He has mentioned those assets to his over one million followers ad nauseam over recent months.
The “Rich Dad Poor Dad” author says that those assets are “real money” while the fiat money printed by Federal Reserve is “fake.”
Kiyosaki isn’t only bullish on Bitcoin in spirit — he has a price target for the cryptocurrency. He wrote in May that BTC could hit $75,000 in the next three years while the two precious metals also perform well.
GOLD’S BOOMING — BITCOIN MAY FOLLOW
As of the time of this article’s writing, gold trades for $1,770 — 15% higher than its price at the start of 2020. That’s also close to a new all-time high against the U.S. dollar, with the last one set after the 2018 recession.
CitiGroup was reported by Bloomberg to have raised its spot market forecast for gold prices, maintaining its “longstanding bullish bias.” Analysts at firms cited the “macro backdrop” of low-interest rates and “universal anxiety” about the pandemic.
Paul Tudor Jones said in a research note titled “The Great Monetary Inflation” that Bitcoin is the “fastest horse in the race.” This was made in reference to the asset’s 21 million coin supply cap while other asset classes don’t have that benefit, even gold.