Robert Kiyosaki, the bestselling author of ‘Rich Dad Poor Dad,’ recently urged his followers to purchase Bitcoin ahead of the upcoming April halving event. In a tweet, Kiyosaki expressed his conviction in the event and promised to buy 10 more BTC before the start of April. He recommended that followers consider purchasing 1/10 of a coin if a whole Bitcoin is unaffordable, through new ETFs or Satoshi’s. Kiyosaki believes that if the Bitcoin process works as designed, investors may own a whole Bitcoin by the end of the year.
Following Kiyosaki’s advice, Bitcoin’s price surged by over 3.5% to $69,700 on Monday, building on its weekend rebound from below $64,000. This increase followed a significant pullback for the cryptocurrency over the last two weeks as Bitcoin spot ETFs experienced large outflows of over $800 million. Kiyosaki expects Bitcoin to reach $100,000 by September, not only because of the ETFs but also due to the weakness of the US dollar. In addition to Bitcoin, he recommended silver coins and gold as good investments for those not interested in Bitcoin.
Bitcoin is often compared to precious metals by its proponents who see its limited supply of 21 million coins as a protection against the devaluation of the US dollar. Kiyosaki echoed the sentiments of MicroStrategy executive chairman Michael Saylor, who stated that individuals saving in cash or fiat currency are essentially “poor.” Kiyosaki advised his followers to acquire gold, silver, and Bitcoin, citing the current economic situation where the US is the biggest debtor nation in the world, consumer and small business debt is high, domestic banks face troubles, and the world is on the brink of war.
According to blockchain data, there are currently over 4.5 million Bitcoin addresses holding over 0.1 BTC, as recommended by Kiyosaki. However, it is important to note that one investor may have holdings spread across multiple Bitcoin addresses, and one address could represent the holdings of thousands or millions of investors. Kiyosaki’s recommendation to invest in Bitcoin aligns with the views of many in the cryptocurrency community who see it as a hedge against the devaluation of traditional currencies. As the April halving event approaches, investors may consider following Kiyosaki’s advice and purchasing Bitcoin as a potential store of value amidst economic uncertainty.
