The author of the best-selling financial book “Rich Dad Poor Dad” claims that the price value of the top digital asset would reach $50,000 next year.
Robert Kiyosaki predicted such a big figure for the world’s leading digital currency because the “institutional money” is incorporating into the crypto space, which would build a bullish price pressure in the space.
Advice for Bitcoin and Silver
He advised his followers to buy Bitcoin below $20,000 and also informed them about his purchase of BTC. Besides flagship cryptocurrency, he also asked traders to invest in Silver. “Glad I bought Bitcoin. Next stop $50k. Wall of institutional money coming 2021. Buy below $20k. If you missed Bitcoin, buy silver. Silver set to move due to AOC’s Green New Deal. America in trouble. Future bright for gold silver Bitcoin and entrepreneurs,” said Kiyosaki.
He is known as a hedge investor who invested a lot in different stores of value, such as gold and silver. That’s the reason, he is asking to buy silver besides Bitcoin.
Based on the immediate past data, we come to know that there is a little correlation between the flagship cryptocurrency and the US equity markets. The traditional markets have witnessed an increase in value, and following equities Bitcoin has also expressed bullish moves.
Bitcoin has little correlation with the traditional markets due to some reasons. Whenever there is risk in the US markets due to macro events, the investors prefer Bitcoin to get a high return. Due to the Coronavirus pandemic, the Fed has printed an unlimited amount of money, which enforced people to go for hedge instruments, such as Bitcoin and gold.
As per Kiyosaki’s speculation, if the price claims the figure of $50k, the market capitalization of the top digital currency could easily claim $928 billion. And it would easily take 10.3% of gold’s total market cap while the currency value is only standing at 2.9%.
According to on-chain firms, platforms that are dealing with institutional clients are beating retail platforms in trading volume and open interest trading.
Grayscale, one of the largest crypto investment companies, has exceeded the figure of $13 billion in assets under management. This shows that Wall Street investors also like to dedicate a small portion of their portfolios to Bitcoin.
Few insurance firms, such as MassMutual, have also purchased Bitcoin worth millions of dollars.