Bitcoin: The Most Direct Path to Becoming a Millionaire
In a recent report by CoinSpeaker, renowned author of “Rich Dad Poor Dad,” Robert Kiyosaki, believes that Bitcoin (BTC) is the most direct path to becoming a millionaire. He also argues that cryptocurrency serves as a shield against inflation and the looming economic crisis in the United States.
In his recent tweet, he stated, “Bitcoin is the simplest way to become a millionaire.” He explained that holding Bitcoin has done the “hard work” for him. While entrepreneurship requires wisdom, dedication, and a bit of luck, accumulating wealth through Bitcoin is a relatively straightforward process.
His followers also echo his sentiments, emphasizing the decentralization and security features of Bitcoin. One user highlighted the immutability of the Bitcoin transaction ledger, which prevents tampering or interference.
Indeed, Kiyosaki sees Bitcoin as having many advantages in avoiding economic turmoil. Its deflationary nature and increasing global adoption make it an ideal weapon to protect personal wealth from potential currency crises.
For American investors, this call to action is not new. However, preparing for the worst-case scenario by diversifying investments into the cryptocurrency space seems more prudent than ever before. Despite Bitcoin’s fluctuations, it is now considered one of the most reliable choices.
Potential Market Collapse in the U.S.
Furthermore, Kiyosaki warns that the U.S. market may collapse and escalate into war, with Bitcoin being the only viable economic safeguard. He attributes this potential crisis to President Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
Despite a recent 3% drop in Bitcoin’s price, Kiyosaki remains bullish on its potential and predicts that Bitcoin’s price will reach $100,000 by the end of June. In fact, earlier this week, he wrote on Twitter, “I believe Bitcoin will reach $350,000 at some point in 2024, but this is just a goal, a dream, and a wish.”
Additionally, Kiyosaki disclosed that he avoids saving funds in fiat currencies, emphasizing that “savers are losers.” He also revealed that he started saving Bitcoin about 10 years ago and has recently expanded into Ethereum.
He also revealed that economic growth has been below average in recent years, with growth rates of only 3.4% in the fourth quarter of 2023 and 1.6% in the first quarter of 2024. Kiyosaki also warned that a broader market collapse has already begun, emphasizing that “collapse is the best time to get rich” and urging investors to take advantage of investment opportunities when prices bottom out.
A Legendary Life
Robert Kiyosaki was born on April 8, 1947, in Hawaii, as a fourth-generation Japanese-American, with the Japanese name Toru Kiyosaki.
Robert studied in New York and later joined the U.S. Marine Corps after graduation, serving as a helicopter gunship pilot in the Vietnam War. After leaving the military, he attended a maritime school and, at the advice of his “Rich Dad,” joined Xerox to learn sales skills.
He excelled in sales and later resigned to start his own business. In 1977, he founded a company that produced the “Surfer” wallet, a nylon and Velcro wallet popular among young people. His product achieved immense success globally, making him wealthy. However, due to issues with partners and competition from counterfeit products, his company eventually went bankrupt.
Despite experiencing bankruptcy and debt, he did not give up on his entrepreneurial dreams. He ventured into oil, real estate, publishing, and other fields, gradually regaining his wealth. At the age of 47, he achieved financial freedom with his wife Kim, no longer needing to work for money.
After retiring, Robert decided to focus on education, hoping to spread his financial literacy concepts to more people through games and books.
He secluded himself in the mountains for two years, dedicated to developing finance-related games. In 1985, he launched the “Cashflow” game, a tabletop game that simulates investments and helps players learn how to manage finances and improve their financial literacy.
To better introduce the concept of this game, he began writing “Rich Dad Poor Dad,” a book that shares the different money perspectives and wealth secrets he learned from two fathers.
Published in 1997, the book caused a sensation and became a global bestseller, translated into multiple languages with sales exceeding 32 million copies. Robert subsequently published several other books related to finance and investment, forming the “Rich Dad” series.
Robert Kiyosaki is indeed a daring and innovative individual. His financial theories and educational methods have been well-received and appreciated by many.