Amid continuous warnings that the United States dollar will lose its position as the global reserve currency, Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has reiterated the advice to his followers to turn to assets like Bitcoin (BTC).
Specifically, Kiyosaki said that the heads of state of the BRICS (Brazil, Russia, India, China, and South Africa) nations would “announce gold-backed crypto” at their next summit, which will begin on August 22, 2023, in Johannesburg, South Africa, as he explained in his tweet on July 11.
Indeed, the Russian English news channel RT reported that the BRICS coalition would introduce a new trading currency backed by gold as “more and more countries are lining up to join the group,” as per the screenshots and quotes shared by former journalist Willem Middelkoop on July 7.
According to the financial educator, the result of this is that the US currency “will die” as “trillions of US $ rush home” and bring “inflation through the roof.” As a way to protect oneself from the fallout, he advises investing in gold, silver, and Bitcoin, which he believes will hit the price level of $120,000 next year.
Kiyosaki’s predictions
Earlier in April, Kiyosaki warned of the deadly consequences of inflation “going through the roof,” which he believes will lead to an end of the middle class in the US, leaving only the rich and the poor, assigning some of the blame to President Joe Biden’s green energy policies.
Moreover, the renowned author and investor shared his views that the US economy was on the “Eve of Destruction,” referencing the popular song by Barry McGuire, reiterating his distrust of the government and criticizing the Federal Reserve for printing more money, as Finbold reported on July 6.
Meanwhile, the price of Bitcoin, the flagship decentralized finance (DeFi), at press time stood at $30,489, recording an increase of 1.37% in the last 24 hours, a decline of 1.52% across the previous seven days, and an 18.45% gain over the past month, as per the latest data on July 11.
Interestingly, Standard Chartered Bank’s research seems to support Kiyosaki’s predictions of the price of Bitcoin, as the bank said it had increased its earlier Bitcoin price target from $100,000 to $120,000 by the end of 2024, whereas this year, it might grow to $50,000, according to the study.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
