Rich Dad Poor Dad Author: ‘Gold Guys are Being Phased Out’
Best-selling author Robert Kiyosaki says he still invests in gold, silver, and Bitcoin because he doesn’t trust the US government.
Robert Kiyosaki, author of “Rich Dad Poor Dad,” says that investments in real estate and gold may not be the future of finance as cryptocurrency comes into focus.
In a July 8 interview with Bitcoin bull Anthony Pompliano, AKA Pomp, on Kiyosaki’s radio show, the author said traditional investments like gold and real estate would come second to crypto.
“As an old guy, it’s taken me a while to get onto [cryptocurrency], but now I’m buying it,” Kiyosaki said. The author has predicted that the price of Bitcoin (BTC) will reach $75,000 within three years.
“I think it’s important, especially for old guys like me, to understand the crypto world because that’s the world that’s coming into view right now and us real estate and gold guys are being phased out.”
Pushing gold over Bitcoin
Kiyosaki’s prediction comes as gold reached its highest price in nearly a decade on July 9, breaking $1,800. Economic fears over the pandemic and concerns about possible inflation as the Fed continues to print money has led many investors to look for alternatives.
Cointelegraph reported major Bitcoin bulls like Michael Novogratz have recommended against putting the majority of one’s funds into crypto:
“My sense is that Bitcoin way outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility.”
At the time of writing, gold trades at $1,799, down roughly 0.23% over the last 24 hours. The price of BTC is $9,223, dropping 0.53% in the same time period.