On Saturday (May 16), Robert Kiyosaki, best known as the author of the “Rich Dad Poor Dad’ series of personal finance books, made some quite bold price predictions for silver, gold, and Bitcoin.
“Rich Dad Poor Dad“, which is one of the top 10 personal finance books of all time, is a book that “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”
Earlier today, Kiyosaki, who has been criticizing for the past several weeks the Federal Reserve’s response to the economic damage caused by the COVID-19 pandemic, sent out a tweet that laid out where he thinks the prices of silver, gold, and Bitcoin will go within the next few years:
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
— therealkiyosaki (@theRealKiyosaki) May 16, 2020
Since the start of 2020, according to data from GoldSilver, LLC, the price of silver has gone from $17.86 an ounce to $16.62 an ounce (a loss of 6.94%) and the price of gold has gone from $1,517.24 per ounce to $1,742.33 (a gain of 14.83%).
As for Bitcoin, according to data from CryptoCompare, BTC-USD is currently trading at $9,408, up 1.54% in the past 24-hour period:
This means that for the year-to-date period, the BTC price has gone from $7,183 to $9,408 (a gain of 31%).
Episode #263 of Anthony Pompliano’s “Pomp Podcast”, which was released on April 7, featured an interview with Kiyosaki.
During this interview, Pompliano (aka “Pomp”) was asked about Kiyosaki’s latest thinking on “traditional inflation hedge” type assets such as silver and gold.
Here is what Kiyosaki said:
“Gold and silver are God’s money. Bitcoin is open source people’s money.”
With regards to Bitcoin, he said that the reason he didn’t invest in Bitcoin much earlier is that he “didn’t know what it was.” However, after one of his friends made a lot of money from Bitcoin, he “saw the light.”
He went on to say:
“This is what I say to all the young people: ‘If you are under 50, you should look at Bitcoin’.”
In contrast, for older people like himself, Kiyosaki recommends investing in silver and gold since these two assets will be easier for them to understand.