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A known personal finance book author joined many cryptocurrency analysts in saying that Bitcoin could hit $100,000 anytime soon as the crypto reached the $96,000 mark today.
American author Robert Kiyosaki made a controversial stand after commenting that the psychological phenomenon of the fear of missing out (FOMO) can be a positive driving force that will push investors to buy the top crypto before it reaches the $100,000 level.
Bitcoin: The Challenge To Invest
Kiyosaki warned that once Bitcoin surpassed the $100,000 level, it would be challenging for the middle class to invest significant amounts in the firstborn crypto, urging them to invest now that the digital currency is still below the said level.
“Once Bitcoin passes $100,000 it will be almost 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-wealthy, holders of traditional fiat currencies such as the dollar, euro, and yen will lose out.
Kiyosaki, who is an advocate 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 will be able to afford Bitcoin of any consequence.”
THE RICH WILL GET RICHER:
Q: WHO WiLL BE RICHER?
A: The people who save Gold, Silver. Bitcoin. I own all three financial assets.Q: WhO WILL BE POORER?
A: The people who save dollars, Pesos, Yen, Euro, & Loonies.As I warned in Rich Dad Poor Dad
“Savers are losers…because…— Robert Kiyosaki (@theRealKiyosaki) November 29, 2024
Embracing FOMO
Ever since Kiyosaki has been promoting investment in Bitcoin, he believed that the crypto offers an opportunity to better protect wealth than the traditional currencies.
Now that BTC is nearing a new all-time high, Kiyosaki urged people like those in 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 pull people to invest in the crypto so they could benefit when the coin reaches new heights.
Fiat Savings Not Good
The author dispelled people from saving, saying that ‘savers are losers” because, in his opinion, “cash is trash.”
Kiyosaki explained that holding Bitcoin is better than saving in cash because traditional fiat currencies have to contend with inflation which reduces its value over time.
In an X post, he urged people to diversify their assets and invest in alternatives such as Bitcoin, claiming that government monetary policies and inflation will continue to “erode the purchasing power of traditional currencies.”
He pointed out that today is the right time to invest in BTC because once the coin breaches the $100,000 milestone, it will be nearly impossible for most people to get hold of it.
As of press time, BTC is being traded at $96,722 per coin, with a total market capitalization of $1.9 trillion.
Featured image from Pexels, chart from TradingView
