Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” continues to express his optimism about Bitcoin, predicting a price level of $120,000 in the midst of plans by the BRICS alliance to introduce a gold-backed cryptocurrency.
TLDR:
- The “Rich Dad Poor Dad” author expects Bitcoin to reach $120,000 with BRICS’ gold-backed crypto plans.
- Kiyosaki advises investing in Bitcoin, silver, and gold as a hedge against traditional banking concerns.
- Bitcoin leads the market resurgence, Ethereum stabilizes, and Ripple faces a bearish trend.
- Ripple shows positive growth despite recent price fluctuations.
In a recent tweet, Kiyosaki highlighted the potential adoption of a gold-backed digital currency by the BRICS nations, suggesting that it could have a significant impact on the valuation of the U.S. dollar.
Kiyosaki’s bullish outlook on Bitcoin stems from his belief that the impending devaluation of the U.S. dollar will lead to soaring inflation. To safeguard against this, he advises his followers to invest in gold and silver as a hedge against inflation in the coming months.
The “Rich Dad Poor Dad” author has remained a staunch advocate of Bitcoin, despite recent events that have shaken the confidence of mainstream investors in the cryptocurrency.
Kiyosaki’s unwavering confidence in Bitcoin as a store of value and investment asset reflects his long-standing belief in its potential to provide financial security and wealth preservation.
Kiyosaki Expresses Concerns Over Traditional Banks
In addition to his optimism about Bitcoin, Kiyosaki has expressed concerns about the banking sector, predicting that more banks will face difficulties in the near future. He urges caution and advises investors not to blindly trust positive statements from banking authorities.
Furthermore, Kiyosaki anticipates a major real estate crash, particularly in the office building market, and recommends allocating investments in safe-haven assets such as Bitcoin, silver, and gold.
The potential adoption of gold-backed crypto by the BRICS nations and the broader economic landscape will play a significant role in determining the realization of Kiyosaki’s predictions.
Robert Kiyosaki’s bullish stance on Bitcoin and his projection of a $120,000 price level demonstrate his enduring belief in the cryptocurrency’s potential. As an influential figure in the financial world, Kiyosaki’s views contribute to the ongoing discussions and debates surrounding Bitcoin’s role in the future of finance and investment.
Bitcoin (BTC) and Crypto Market Outlook
Bitcoin is spearheading a significant resurgence in the cryptocurrency market, marked by bullish reversals seen across various digital assets.
In the past 24 hours, BTC has experienced 0.64% surge, reaching a price of $30,398.08. The volatility of the leading cryptocurrency seems to have stabilized to some extent
The price of Ethereum (ETH) maintained its stability above the crucial support level of $1,825. Following a period of consolidation, ETH initiated a gradual recovery and managed to register a slight increase above the $1,860 mark, mirroring BTC.
Related: Bitcoin Whales Accumulate 71,000 Btc in the Past Three Weeks
Ripple (XRP), ranked as the sixth-largest cryptocurrency by market capitalization, has been experiencing a bearish market phase in the past month, in contrast to the upward trend seen in Bitcoin and other major crypto assets.
Over the course of the last 30 days, XRP’s price has dropped by 6%, falling from $0.5058 to the current value of $0.4767. In contrast, Bitcoin (BTC) has witnessed a 17% price increase during the same period.
However, when considering the yearly chart, XRP’s performance remains positive since July 2022, a time commonly referred to as the “crypto winter.” In the past year, Ripple has shown impressive growth, with its price surging by 48%.
Despite the recent downtrend, XRP has seen a significant boost in trading volume, with an 80% increase in the last 24 hours. Furthermore, the price has experienced a 2% pump compared to the previous day.
