Rich Dad Poor Dad Author Says Hes Stacking More Bitcoin (BTC), Warns of Regulations Crushing Altcoins
Rich Dad Poor Dad author Robert Kiyosaki says he’s buying more Bitcoin (BTC) at current prices as the king crypto trades in the depths of the bear market.
In a tweet to his 2.3 million followers, the best-selling author explains his thesis behind investing in Bitcoin.
Kiyosaki says that unlike altcoins, Bitcoin will likely be able to dodge the hammer of regulators should they decide to clamp down on regulators.
“Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC [U.S. Securities and Exchange Commission] regulations will crush most of them. I am buying more [BTC].”
The BTC bull is also optimistic on the precious metal markets. He predicts rallies for both gold and silver in 2023, calling for a 108% and 213% surge, respectively, potentially triggered by a stock market crash.
“I became a gold bug in 1972. I was a Marine pilot in Vietnam flying behind enemy lines hoping to buy gold at a discount because the mine was in enemy hands. Found out the price of gold is the same all over the world. I predict silver going to $75 and gold to $3,800 in 2023…
I became a silver nut in 1964. I was looking at a dime and saw a copper tinge around the edge. I was only 17, but I knew we were being screwed via our money. Little did I know then that the US government violated Greshams Law which states fake money drives out gold and silver.”
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Featured Image: Shutterstock/BINK0NTAN/Chuenmanuse
This article was originally reported on The Daily Hodl.
