Robert Kiyosaki, the popular author of “Rich Dad, Poor Dad,” who is known for his optimistic position on Bitcoin, now predicts it might hit $120,000 by the end of the year.
Kiyosaki believes that the gold-backed cryptocurrency issued by the BRICS nations will be a major changer, perhaps leading to the demise of the US dollar.
Kiyosaki is advising his followers to “get out of the dollar” and invest in gold and silver because he believes the US currency is about to collapse. He believes inflation will soon reach “hyperinflation” levels, and that gold and silver will be the only safe havens for investors.
Kiyosaki is not alone in his prediction that the dollar will fall in value. Many other analysts believe that the US currency is overpriced and that it will soon lose its place as the world’s reserve currency.
Robert Kiyosaki, a veteran investor with a proven track record, is still bullish on Bitcoin. His recent price call shows that he is not swayed by the recent events that have shaken the confidence of many mainstream investors.
With the increased popularity of Spot Bitcoin ETFs, it is expected that the asset would only soar further. However, the persistent expansion of BRICS and other macroeconomic reasons may contribute to the US dollar’s prolonged depreciation.
He points to the SEC’s potential approval of a Spot Bitcoin ETF as a catalyst for Bitcoin’s price, and the BRICS countries’ competition with the dollar as a potential catalyst for gold’s price. However, he acknowledges that the dollar’s demise is unlikely to be caused by a single announcement.