The author of Rich Dad Poor Dad, Robert Kiyosaki, has expressed concerns about the slow pace of Bitcoin adoption while advocating for investing in the asset. Here are the details:
Questioning the Adoption Pace: Kiyosaki recently posted on X, warning of an impending “financial divide,” stating that “Bitcoin will soon break through $100,000. Once it does, it will be nearly impossible for the low – income and middle – class groups to catch up. Only the super – rich, such as corporations, banks, and sovereign wealth funds, will be able to afford it.” Implicit in his statement is the view that the current adoption pace of Bitcoin is too slow, which might lead to a situation where the wealthy have an exclusive advantage in accessing Bitcoin, further exacerbating social wealth inequality.
Advocating Investment in Bitcoin: Kiyosaki has long been a proponent of Bitcoin investment. He has criticized the Federal Reserve’s policies, described the US dollar as a “scam,” and labeled fiat money as “fake money”. He believes that Bitcoin and other cryptocurrencies are “the people’s currency” and will outlast fiat money. He also suggests that in the face of potential financial market crashes, gold, Bitcoin, and other cryptocurrencies can serve as effective hedges. He has advocated for a portfolio allocation of 75% to assets like gold, silver, and Bitcoin, and 25% to real estate and oil stocks, considering this mix a strategy to endure potential economic crashes. Moreover, he has made bullish predictions for Bitcoin, with estimates ranging from $135,000 to $1 million.
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