Renowned personal finance author Robert Kiyosaki says Bitcoin will hit a price tag well into the seven figures within half a decade.
In a new interview with Kitco NEWS, the author of the best-selling Rich Dad Poor Dad reveals that he expects Bitcoin to surge by nearly 2,000% in the coming years.
“I bought Bitcoin at $9,000. I wish I bought it at 10 cents like a lot of people did. But now I look like a genius because today it’s around $55,000… and I think it’s going to go to $1.2 million in five more years.”
Kiyosaki says he intends to hold Bitcoin forever, as he quotes Gresham’s Law which states that money that is stable in value or undervalued (good money) replaces money that loses value fast or is overvalued (bad money) in the long run.
“The problem is too big… you know our pensions are going bust, baby boomers have no money. They shut down the economy, they’re going to print another $1.9 trillion. So it has never worked. It’s Gresham’s Law – bad money drives out good money. So when a guy like me gets my hand on a Bitcoin, I’ll never spend it…
Bitcoin is untested yet, but that’s why I was happy to get some at $9,000, and I may buy some again today or tomorrow just because I’m more bullish on it.”
The crypto and metals investor blames much of the political and financial establishment for making decisions that he says are hurting the people at the bottom of the economic ladder.
“I really don’t like how they screw everybody. It makes me rich because you know all the CEOs take all this fake money and drive up the stock price…But the working-class guy is getting screwed. You know the person working for money trying to pay the rent, trying this… they can’t afford to buy a house. They don’t buy stocks. They’re just surviving day-to-day and the price of food keeps going up and all this. That’s what happens when you print money.”
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Featured Image: Shutterstock/Tithi Luadthong
