Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ advises to invest in Bitcoin at a level that fits your budget

Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ advises to invest in Bitcoin at a level that fits your budget

Renowned investor and author Robert Kiyosaki is bullish on Bitcoin, urging investors to buy as much of it as possible.

How did Bitcoin perform last week?

Bitcoin (BTC) is hovering around $67,000 with a market cap of $1.25 trillion. The price of BTC surged to an all-time high of $73,797 last week, largely driven by exchange-traded fund (ETF) flows from institutions and the impending April halving. The amount of BTC mined is halved every four years to maintain scarcity. In April, the amount of BTC mined per block will be reduced from 6.25 to 3.125 BTC, reducing daily BTC production from 900 BTC to 450 BTC. As retail and private investors have noted, more Bitcoin has been purchased, leading to a 51% year-to-date rise.

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When assets like Bitcoin reach new all-time highs, profit-taking is natural. BTC is down about 13% from recent highs, but remains strong due to massive gains over the past few months.

Kiyosaki Price Target

Kiyosaki, author of “Rich Dad Poor Dad,” recently published his predictions on financial markets and BTC on X.

Kiyosaki said China was borrowing money to prop up its market because many consumers had stopped buying stocks.

“Now is the time to buy real gold, real silver and as many Bitcoins as you can afford,” Kiyosaki posted.

Kiyosaki’s belief regarding Bitcoin is based on the asset’s capped supply at 21 million. Kiyosaki said investing in deflationary assets is one of the smartest things you can do with your money. Bitcoin is often referred to as digital gold due to its limited supply, which helps increase demand. It’s no wonder it’s one of Kiyosaki’s favorite investments.

“I like gold and silver. I own gold and silver mines. The problem with gold and silver is…the higher the price goes, the more gold you find and money. …No matter how high the price of Bitcoin rises.”, there will only be 21 million. This is why I love Bitcoin,” he posted on X.

To say Kiyosaki is bullish on BTC is an understatement. Kiyosaki said that with the combination of scarcity, utility and institutional interest, BTC will reach $300,000 per piece by the end of 2024. At the time of writing, this represents an increase of almost 500% from current prices.

Kiyosaki’s advice to investors is not to procrastinate. He said that buying BTC is one of the best things you can do to prepare for a better future. “Rich Dad Poor Dad” says you don’t need a lot of money to start investing. Although the book was published in 1997, the lessons learned are still relevant today: The key to creating wealth is to make your money grow.

Whether it’s $20, $200, or $2,000, starting to invest is the first step. Bitcoin is a high-performing asset and many investors, like Kiyosaki, believe its price will continue to rise due to its scarcity. With a net worth of $100 million, it’s fair to say that Kiyosaki knows what he’s talking about.

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