Bitcoin (BTC) proponent and author of “Rich Dad Poor Dad” Robert Kiyosaki is out again, encouraging investors to increase their BTC holding rather than acquire traditional assets. In an X post, the acclaimed author encouraged his followers to ditch traditional financial systems and pivot to alternatives like gold, silver, and cryptocurrency, particularly Bitcoin.
“Don’t be a loser. Get out of FAKE money system. Get into gold, silver, Bitcoin now… Before it’s too late,” Kiyosaki said.
Gold Surpass $2K Levels
His call to action was hinged on the recent price rally which each of these assets have seen in the last couple of day. According to Kiyosaki, gold has seen new high levels as it currently trading above $2000. Markedly, gold hit this significant milestone on November 21 and it was triggered by certain factors including a weakened U.S. dollar.
Additionally, investor expectations that the Federal Reserve may have reached an end in terms of interest rate hikes, also contributed to the price surge of gold. There has equally been low Treasury yield and the combination of these factors have all played a part in making gold a more attractive asset for investors.
Bitcoin to Reach $135K
Kiyosaki is confident that Bitcoin will reach unprecedented levels in no distant future. He predicted that the price of the coin will hit $135,000 and this comes around the time when BTC swiftly reclaimed the $38,000 levels. At the time of this writing, a unit of the flagship cryptocurrency is valued at $37,338.23, per data from CoinMarketCap.
More pronounced than other factors, Bitcoin price rally is largely fueled by the anticipation for spot Bitcoin ETF approval from the Securities and Exchange Commission (SEC). Also, Binance settlement with the U.S. Department of Justice is believed to possess the capacity to usher in some level of regulatory clarity and this has contributed to BTC price surge.
Bitcoin or Gold?
Between these two alternative assets being touted by Kiyosaki, some level of preference still exists.
Industry players like American television personality, author, and host of Mad Money on CNBC Jim Cramer sees gold as a more preferred option to Bitcoin. In his opinion, gold has proven to be an asset class that has non-speculative use cases while BTC is more or less a “risky asset”.
This is further underscored by a statement from some Goldman Sachs analysts. These experts stated that gold is a useful ‘portfolio diversifier’ compared to Bitcoin.
Amidst all these, investors are advised to take all predictions and opinion from experts including that of Kiyosaki with a pinch of salt.