American entrepreneur, businessman, and author of Rich Dad Poor Dad, Robert Kiyosaki, has predicted that the crypto asset Bitcoin, will hit $500,000 by 2025.
He also predicted Gold to hit $5,000 and silver $500 by 2025 which he disclosed will occur, following the printing of billions of fake money by the fed.
According to him, the U.S. Federal Reserve’s wrong monetary policy, forcing the regulator to print billions of fake money will lead to a surge in the price of several crypto assets due to a loss of faith in the U.S. dollar.
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See what he wrote on Twitter,
“Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin people’s $. Take care.”
Kiyosaki predicted the imminent collapse of the financial markets to happen as early as tomorrow February 14, he attributes the worsening of market conditions to the inflation data due out tomorrow. The author urges people not to panic and to increase their exposure to strong assets.
He further assured his Twitter followers that he would spend “fake dollars” to acquire more gold, silver, and bitcoin, referring to them as real money.
Kiyosaki has previously explained that Gold, silver, and Bitcoin are real money. He noted that the U.S. dollar is “fake money” because rather than being tied to real money, which is the case for gold, it was tied to the full faith and credit of the United States.
Kiyosaki on his Twitter handle, had earlier stated why Gold, Silver, and Bitcoin are going higher lately. He wrote, “Q: Why are gold, silver, and Bitcoin going higher? A: Because US poor and middle class getting poorer & deeper in bad debt. Please don’t get poorer. At least buy one silver coin. Only $30 and start to get richer.”
Q: Why are gold, silver, Bitcoin going higher? A: Because US poor and middle class getting poorer & deeper in bad debt. Please don’t get poorer. At least buy one silver coin. Only $30 and start to get richer.
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2023
Furthermore, the author has repeatedly said he does not have faith in the Biden administration, the U.S. Treasury, the Federal Reserve, or Wall Street.
Meanwhile, in a related development, American economist and member of the Federal Reserve Board of Governors since 2020, Christopher J. Waller, has issued a warning regarding the risks associated with investing in cryptocurrencies.
He said, “To me, a crypto asset is nothing more than a speculative asset, like a baseball card. If people believe others will buy it from them in the future at a positive price, then it will trade at a positive price today. If not, its price will go to zero.”
Meanwhile, since Bitcoin is the biggest and most well-known cryptocurrency, few investors see it as a reliable inflation hedge, which is even considered an excellent hedge compared to gold.
A veteran of the crypto industry and an adjunct professor at Columbia Business School Omid Malekan said that while cryptocurrencies like bitcoin, they are not proven to be a reliable long-term store of value, meanwhile, they could still gain acceptance over time and become less volatile.