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A well-known author of a personal finance book joined many cryptocurrency analysts in saying that Bitcoin could reach $100,000 at any time once the crypto hits the $96,000 mark today.
American author Robert Kiyosaki has taken a controversial stance after noting that the psychological phenomenon of fear of missing out (FOMO) could be a positive driving force that will push investors to buy the best crypto before it reaches the $100,000 level reaches.
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Bitcoin: the investment challenge
Kiyosaki warned that once Bitcoin crosses the $100,000 level, it would be challenging for the middle class to invest significant amounts in the firstborn crypto, urging them to invest while the digital currency is still below the said level is.
“Once Bitcoin passes $100,000, it will be nearly impossible for the poor and middle class to catch up,” Kiyosaki said.
The American author explained that once Bitcoin becomes more accessible only to the ultra-rich, holders of traditional fiat currencies such as the dollar, the euro and the yen will lose.
Kiyosaki, who is a proponent of alternatives to fiat currencies such as gold, silver and Bitcoin, argued that if BTC breaks the $100,000 level, “only the ultra-rich such as corporations, banks and sovereign wealth funds can afford it. Bitcoin of any significance.”
THE RICH WILL GET RICHER:
Q: WHO WILL BE RICHER?
A: The people who save gold and silver. Bitcoin. I own all three financial assets.Question: Who will be poorer?
A: The people who save dollars, pesos, yen, euros and loonies.As I warned in Rich Dad Poor Dad
“Savers are losers…because…— Robert Kiyosaki (@theRealKiyosaki) November 29, 2024
Embrace FOMO
Since Kiyosaki promoted investments in Bitcoin, he believed that the crypto offers an opportunity to protect wealth better than traditional currencies.
With BTC nearing new all-time highs, Kiyosaki urged people like those from the middle class to invest in Bitcoin, saying that if they are hesitant, they can embrace the FOMO mentality.
“FOMO is good. Don’t be left behind!” he added.
He explained that the fear of missing out on the Bitcoin opportunity could push people to invest in the crypto so that they could benefit when the coin reaches new heights.
Fiat savings are not good
The author discouraged people from saving, saying that “savers are losers” because, in his opinion, “cash is rubbish.”
Kiyosaki explained that holding Bitcoin is better than saving cash because traditional fiat currencies suffer from inflation, which reduces their value over time.
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In an
He pointed out that now is the right time to invest in BTC because once the coin crosses the $100,000 mark, it will be almost impossible for most people to get their hands on it.
At the time of writing, BTC is trading at $96,722 per coin, with a total market cap of $1.9 trillion.
Featured image from Pexels, chart from TradingView