“Rich Dad Poor Dad” Author Robert Kiyosaki has shared an important Bitcoin (BTC) update to his more than 2.5 million followers on X amid the growing debt profile of the United States.
Robert Kiyosaki Says Buy Bitcoin
According to the Best-Selling Author, there is no need to be scared of the current economic situation in the country. He advocated that investors need to “BE PREPARED” in the wake of the country’s debt surpassing $34 trillion.
Market and financial experts have been wary of the growing liabilities being incurred by the United States Government. On average, the national debt increases by an average of $1 trillion every 90 days, making the country one of the most indebted in the world.
The implications of this massive debt profile is enormous as it can mar any form of economic growth measures being implemented by the Biden Administration. Though there is a positive uptick in key economic indicators including inflationary slump and employment growth, the projection of a longer term recession is high.
In view of this possibility, Robert Kiyosaki said “America is Sick” and that whoever needs to escape the financial collapse have to “Buy more gold, silver, Bitcoin.” He has always maintained these three picks as his getaway assets to escape the fast-paced loss of the US Dollar and fiat currencies in general.
While on occasions he often adds Real Estate to the pick, he believes in the potency of Bitcoin as a major multiplier of capital. Earlier in the week, he advised investors to invest as little as $500 in order to take advantage of the asset’s latest rally and future growth.
The Target On BTC Price
As a justification of his call to buy more Bitcoin, Robert Kiyosaki believes the digital currency can jump as high as $300,000 by the end of this year.
His constant call is similar to many other market experts’ who believe the coin can grow even 10 fold from its current level. Toward the end of the week, Bitcoin price skyrocketed to its All-Time High (ATH) above $70,000, setting a precedent that complements the intensive accumulation of the digital currency by the top 4 spot BTC ETF issuers.
With the halving event just weeks away, the supply demand shock is poised to be tightened some more, further driving the scarcity that might help push the price of the cryptocurrency to the valuation levels projected by Robert Kiyosaki and other market experts.
Ultimately, he believes while the dollar is fated to keep falling, Bitcoin’s deflationary design will make it sustain its valuation boost in the long term.