Benzinga - Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has stated that Bitcoin (CRYPTO: BTC) could reach a staggering $120,000 in the near future.
What Happened: Kiyosaki’s forecast comes as the BRICS nations, consisting of Brazil, Russia, India, China, and South Africa, reportedly gear up to launch a gold-backed currency.
According to Kiyosaki, the BRICS alliance’s initiative to adopt a gold-backed currency could spell trouble for the dollar, ultimately leading to its devaluation.
He anticipates that this move by the BRICS nations will take place on August 22, 2023, in Johannesburg, South Africa. In response, he predicts that trillions of US dollars will rush back to the United States, resulting in skyrocketing inflation.
August 22, 2023, in Johannesburg, South Africa, BRICS nations announce gold backed crypto. US $ will die. Trillions of US $ rush home. Inflation through the roof. Buy Gold,Silver. Bitcoin to $120k next year.
— Robert Kiyosaki (@theRealKiyosaki) July 11, 2023
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Why It Matters: To protect against this anticipated surge in inflation, Kiyosaki advises his followers to diversify their investment portfolios and consider alternative assets such as gold, silver and Bitcoin.
Earlier, in April Kiyosaki shared why he loves Bitcoin. The best-selling author and financial guru said, “Years ago I watched BC climb to $20k then drop to 0. I thought [Bitcoin is] finished.”
“Slowly watched [Bitcoin] climb to $6 k & I bought lots. WHY? Because people support [Bitcoin] not FED or Gov. [Bitcoin] did not need FED or Gov bailout because [Bitcoin] people’s money. [Bitcoin] to $100k. Long live [Bitcoin].”
Price Action: At the time of writing, BTC was trading at $30,599, up 0.38%, in the last 24 hours, as per data from Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Slightly Up Ahead Of Inflation Data Release: Analyst Says ‘Pretty Damn Clear’ That ETH Could Rally Towards $2,500
Photo Courtesy: Wikimedia Commons
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