Robert Kiyosaki, the author of “Rich Dad Poor Dad” has once more hit out at gold investors. The renowned financial educator made the strong remarks during an interview with bitcoin bull Anthony Pompliano on the 8th of July 2020. During the interview, Robert Kiyosaki said that he did not trust the United States Government and hence preferred to invest in silver, gold and Bitcoin. According to the famous author of the best seller, the future of finances is in cryptocurrency and not real estate and gold.
Kiyosaki referred to real estate and gold as traditional investments that would soon come second to cryptocurrency. He further explains that, at his age, it may have taken time to buy into cryptocurrency, but now that he is into it, he predicts that within three years the price of Bitcoin will reach $75,000. These predictions came on July 9th 2020 as gold just attained its highest price of $1800 in a decade; reaching the highest price since September 2011. It is reported that the price only rose due to the economic fear that corona virus had brought. Kiyosaki therefore advices elderly investors to strive to understand cryptocurrency since it will be the dominant world after gold and real estates have been phased out.
Many investors are looking for alternative investments as there are economic fears caused by the Covid 19 pandemic. Moreover, there are concerns of inflations as the United states Fed has opted to print money leading to investors looking for other investment options. According to, Michael Novogratz, a major Bitcoin bull and crypto investor, bitcoin is expected to outperform gold in the future. He predicted that by the end of 2020 Bitcoin will hit $20000. Although Novogratz is confident about Bitcoin outperforming gold, he recommends against the idea of putting a majority of one’s investments in crypto.
He therefore advices people to have less bitcoin than they have gold because gold is more volatile than bitcoin. In fact, with in the last 24 hours Gold trades that cost $1,799 had dropped by approximately 0.23% while bitcoin worth $9223 had a dropping of 0.53%. Novogratz further explains that Bitcoin is still in its early stages of adoption cycle, making it hard for people to obtain. He further explains that digital currency will gain momentum as companies are bringing mass adoption to crypto. In the meantime, it was better to invest in gold.
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