U.Today - Vocal Bitcoin advocate, investor and nonfiction writer famous for his book on financial self-education has taken to Twitter to urge his followers to buy Bitcoin quickly.
Besides, earlier this week, he made a bold prediction, saying that he expects BTC to hit a six-digit price level in 2024.
"Giant crash coming," "get into Bitcoin asap"
The reason for that, according to the "Rich Dad Poor Dad" author, is the upcoming BRICS conference that will take place in South Africa for two days starting from Aug. 22.
BRICS consists of Brazil, Russia, India, China and South Africa, and recently, it has been reported that they are eyeing the creation and launch of their own currency for trading backed by gold in order to reduce dependency on USD-dollar hegemony.
Kiyosaki sees this as a serious threat to the USD as the U.S. dollar is backed by nothing since 1971, when the country decided to get off the gold standard.
A more detailed plan for the gold-backed currency may be announced during the approaching BRICS summit. For this reason, Kiyosaki is sounding the alarm, saying that USD is certainly going to die this time and urging his followers to get into gold, silver and the leading cryptocurrency ASAP.
Predicting Bitcoin to hit $120,000
He then predicted that Bitcoin might surge to the $120,000 level in 2024 at some point. Earlier this year, Kiyosaki made a prediction that by 2025, BTC would surge to hit a staggering $500,000 due to the fact that the United States has been printing trillions of dollars out of thin air.
He used the same argument back in 2020, at the start of the pandemic, when more than $6 trillion were printed by the Fed Reserve to bail out businesses and create "survival checks" for average U.S. households.
This year, when the banking crisis hit, the Fed and Treasury began printing more money to bail out banks as they one after another.