Rich Dad Poor Dad Writer Says $ 75,000 Bitcoin Is Possible As Economy “Dies”

It was hard to miss recent tweets from Bitcoin bull Robert “Rich Dad” Kiyosaki. The Vietnam veteran – best known for his book “Rich Dad Poor Dad” on financial wellbeing and success – has recently stepped on the gas to promote the leading cryptocurrency gold and silver.

He recently doubled that, claiming in a tweet that he believed Bitcoin could hit $ 75,000 in the next three years.

“Rich Dad” predicts a Bitcoin price of $ 75,000 by 2023 20

In a semi-viral tweet posted on May 16, Kiyosaki suggested that he become particularly optimistic about Bitcoin, gold and silver in the face of “the dying economy” and the waning of “hope”.

The author and entrepreneur is so optimistic about these assets that he predicted a Bitcoin price of $ 75,000 within the next three years, along with nearly doubling the price of gold in one year and doubling the price of silver over the next five years .

ECONOMY is dying. FED incompetent. Next BAILOUT trillion in pensions. HOPE fade. Bought more gold-silver bitcoin. GOLD @ $ 1700. Predict $ 3000 in 1 year. Silver @ $ 17. Predict $ 40 in 5 years. Bitcoin @ $ 9,800. Predict $ 75,000 in 3 years. PRAY for the BEST – READY FOR THE WORST

– therealkiyosaki (@theRealKiyosaki) May 16, 2020

Why he’s so bullish

The reason he’s so optimistic about Bitcoin and precious metals is because he believes the actions of the world’s governments and central banks are propping up a system of “fake money” that is on the verge of collapse. The author of “Rich Dad Poor Dad” specifically cited the lack of interest rates along with the central banks’ quantitative easing programs to back up his point.

Kiyosaki believes these macroeconomic trends will mean that investors will flock to store-of-value and uncorrelated assets in droves to keep their wealth safe for the long term. And for him, the assets that can provide such security are precious metals and bitcoin.

As the frank entrepreneur aptly put it in April, Bitcoin is “the people’s money”, gold is “God’s money” and fiat is “fake money”.

Bitcoin analysts say $ 75,000 and more are possible

While $ 75,000 is over 700% above Bitcoin’s current market price of $ 9,200, a growing number of analysts are predicting that such a move is quite possible in the next few years.

Raoul Pal – a former Goldman Sachs manager and hedge fund manager – recently wrote in the April issue of his Global Macro Investor newsletter that he believes Bitcoin is preparing for a rally to $ 100,000.

“The chart is spectacular … I think it’ll hit $ 100,000 in the next two years alone. But it could climb to a million dollars in the same period, ”wrote Pal, referring to the graph below.

Bitcoin price chart by Raoul Pal

In a series of interviews and in this newsletter, he argued that the ongoing macroeconomic situation with the COVID-19 outbreak and the record reaction to stimulus measures suggest that the US dollar and the financial system may “break” in the years to come.

For him, Bitcoin has the potential to replace part of the existing financial and monetary infrastructure should the “break” fail.

Photo by Alexander Popov on Unsplash

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