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BTC $47863.54 (0.60%)
ETH $3560.98 (0.58%)
USDT $1.00 (-0.0%)
BCH $639.42 (0.04%)
BSV $163.04 (4.43%)
LTC $185.68 (-1.0%)
BNB $420.87 (-0.8%)
ADA $2.41 (-1.1%)
DOGE $0.24 (2.89%)

Rich Dad Poor Dad Author Explains Why He Bought Bitcoin

Rich Dad Poor Dad Author Explains Why He Bought Bitcoin
  • Kiyosaki explains the reason behind buying more Bitcoin (BTC).
  • However, the main reason behind his decision is the current failing economy.
  • Jeff Wang mentioned the pandemic has created excess money.

Author of ‘Rich Dad Poor Dad’, Robert Toru Kiyosaki has explained the reason behind his buying more Bitcoin (BTC), along with gold and silver. As per Kiyosaki in a Rich Dad Radio show podcast episode, the decision was made due to the weakened condition of the US economy.

Moreover, Kiyosaki is an American entrepreneur and author. More so, he is also a real estate mogul and an investor in precious metals. Furthermore, he is the founder of the Rich Dad firm and Rich Global LLC.

In a tweet on May 16, 2020, Kiyosaki mentioned that he bought Bitcoin along with Gold, and Silver. At the time of his purchase, the BTC price was $9,800. In line with this, he offered his insights about the price of the assets in the coming years.

In December 2020, based on the institutional inflow into Bitcoin, Kiyosaki mentions that BTC below $20,000 is ideal, as $50,000 is the next target. As per his tweet, the BTC price skyrocketed over $50,000 this year.

According to Coingecko, the BTC price is $57,414, at the time of writing.

Kiyosaki and Jeff Wang Point of View on Cryptocurrency

Kiyosaki pointed out that he is not ready for a needless argument, like Peter Schiff, Max Keiser, and other crypto big guns. However, the main reason behind his decision is the current incompetence of the FED and the failing economy. More so, he is also ready to buy more of these assets which is safe-haven.

So I’m just grateful I have a lot of gold, silver, Bitcoin, and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?

In the podcast, Host Kiyosaki and guest Jeff Wang discussed the future of money in crypto assets and blockchain technology. In addition, he also mentioned how 2021 is going to provide more for investors than ever before.

Furthermore, Jeff Wang explained that the pandemic has created so much excess money unexpectedly. Even more, the crypto market along with real estate, and the stock market all spiked high. Finally, he added that “if you want to bet against the dollar, invest in Bitcoin. If you want to bet on technology, invest in Ethereum”.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.