“Dollar is vanishing, buy Bitcoin”- should you believe Kiyosaki or not?

David Kemp

The "Rich dad, poor dad" bestseller’s author urges everybody to purchase BTC tokens in place of the USD. He recently said that producing "fake" dollars will not help the country's budget, and offered to invest in precious metals and cryptocurrency. Kiyosaki claims that the USD destroys the global economy then adds that the potential way to gain profit is to keep BTC with gold.

In this way, the prominent writer refers to the latest sharp decline of the Federal Reserve rate to 0-0, 25% range, and other far-reaching measures to arouse the American economical state against the background of the pandemic.

Bearing in mind Kiyasaki’s point of view, how high are the chances for his words to be true? What are the other reasons behind his position? Newsblockchain team is going to clarify this question.

Famous financier and bestselling writer Robert Kiyosaki is confident that BTC could effortlessly rise to $75,000 in only 3 years, whereas gold could reach $3,000 as early as the following year.

The investor tweeted that the US economy is fading and Fed officials are incompetent. Earlier, the US Federal reserve issued $2 trillion to combat the effects of the coronavirus pandemic. Later, financial stimulus measures were taken for another $3 trillion. Analysts predict that such large-scale measures will lead to strong inflation and may worsen the crisis in financial markets.

 Robert said that he purchased more silver, gold, and bitcoins. He is optimistic about precious metals, particularly gold and silver, which have increased by over 30% since the pandemic started. Nevertheless, he considers that the leading coin has the greatest potential.

As said by Kiyosaki, the mentioned assets will generate a lot of interest from the public and will develop rapidly due to the Fed’s incompetence, since trillions of USD are printed on a daily basis. In the message, the financier references the $ 3 trillion stimulus package that the US House of Representatives passed by. The regulation contains a "hidden" provision that describes a possibly unlimited pension benefit.

Kiyosaki concludes the tweet by saying "Pray for the best - prepare for the worst," specifying that the exchange market and the global economy might face one bigger hit in the near prospect.

The legendary writer also conveyed his assurance that the increase in the first cryptocurrency’s price by explaining the reason for approving Bitcoin – it’s being the outsider of the system.

The tycoon said in the fall of  2019 that he believes crypto assets and other cryptocurrencies are an extremely motivating option for investment. In a subsequent tweet, the financier posted that since the year 1971, the USD has indeed remained as a debt obligation that turns the wealthy wealthier and the underprivileged persons poorer.

To Kiyosaki’s mind, for the economical state, it is tolerable when a ratio of public debt to GDP indicator is 60%. Conversely, in the USA, this number has today become 110% and carries on growing.

He tweeted that the USA is now bankrupt. What disappoints him is that due to dollars, insatiability, and debt, are devastating the global economy as well as people’s lives. He added that to save their well-being, people should storegold, silver, and Bitcoin."

This is not the first time that an influential investor calls for giving up savings in Fiat currencies in support of  BTC or gold. One more financier who is optimistic about bitcoin, a billionaire, as well as the Hedge Fund Manager Paul Tudor Jones, specified Bitcoin as the best method of protection against inflation in the coronavirus era.

Previously, a well-known analyst, Joseph Young, also expressed the opinion that the federal reserve's” printing press” will play into the hands of BTC holders.

Kiyosaki claims that currencies such as theUS dollar can be printed open-endedly, with no finale. Related to the USD, silver gold and digital currencies are more valuable.

In particular, it calls for saving cash in the context of the worldwide economic crisis affected by the COVID-19 epidemic. As said by the financier, it is necessary to store savings not in Fiat currency, but in particularly BTC.

A few months ago, Kiyosaki created several training lessons about personal finance, in which he called bitcoin the most valuable investment asset. As the entrepreneur teaches, you need to invest in Bitcoin today to achieve financial freedom and independence. As he says, cryptocurrency has a number of advantages, and most importantly, it can quickly generate money.

If earlier Kiyosaki in his books taught to invest money in assets and build a business, today the main investment tool can be bitcoin, as its popularity will only increase.

Another well-known investor and crypto enthusiast, Tim Draper, has repeatedly expressed a similar opinion. He reported several times that the current banking system has outlived its usefulness. High-interest rates for using Bank Cards and fees for payments make the financial system inefficient. It is much more convenient and profitable to use cryptocurrencies both as a means of payment and as an investment asset.

According to Draper, the next few decades will erase financial boundaries in the world.

“With the help of blockchain and cryptocurrencies, people will be able to pay for goods and services anywhere in the world using a mobile app. In this case, transactions will be free of charge or have a minimum Commission. Users will not need to convert one currency to another.”

“Cryptocurrencies will become a global means of payment. Therefore, generation Z and Millennials should start actively investing in bitcoin now, so as not to have financial problems in the future. “

Analyst Ronnie Moas also listed the advantages of the main digital coin over the US currency.

“The advantage of Bitcoin over the US dollar is decreasing inflation”, said analyst and trader Ronnie Moas. On his Twitter account, he compared currencies by this indicator.

"The current Bitcoin inflation rate is 4%, which corresponds to the economies of more than 70 countries. Thanks to halving, BTC inflation will fall below 2% in May 2020 and below 1% by 2024. For comparison, the US dollar has lost 50% of its value since 1989, " Moas explained.

From the words of the expert, it follows that the decreasing inflation of Bitcoin makes it a more reliable way to save value than the dollar. For this reason, Moas is confident that the price of the first cryptocurrency will double within 5-7 months. The trader added that all investors should diversify their currency portfolios by adding the main digital asset to them.

Last week, Fundstrat founder Tom Lee also predicted a rise in the value of Bitcoin. According to him, the coin will rise in price to $25,000 by 2022 due to a twofold increase in the number of users.

Most people have recognized BTC as the main currency. Why have people gradually recognized the token?

People have formed a consensus because Bitcoin has value.

BTC is a digital currency that is based on decentralization and implementing blockchain as the basic equipment. There are merely 21 million of them in the globe, and their strength is that specific people or countries do not control them.

This is a notion suggested by Satoshi Nakamoto that entirely contradicts the centralized currency system of contemporary society and solves the inflation problems caused by the hegemony of supplementary issuance of currency.

The Newsblockchain platform has conducted independent research on the topic of Kiyosaki’s notion of Bitcoin value. The website-based team of crypto experts is passionate about the updates in the sphere of digital currency and is always eager to explore innovations and new areas of investors’ interest. 

To sum up, the conclusion of the discussed topic is obvious: Bitcoin is a valuable asset.