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In major Bitcoin news, Robert Kiyosaki, a popular author, has warned about the ‘end of the US dollar’ and recommended that savers should opt for the coin and other assets like gold, silver, and Ethereum.
Bitcoin News: Robert Kiyosaki Warns US Dollar Savers
Kiyosaki, the author of ‘Rich Dad, Poor Dad’, has warned that savers of US dollars are losers, recommending that these investors opt for other assets, including Bitcoin.
This X post was a follow-up to his other statements about the US dollar and Bitcoin. Over the years, he has warned that inflation and uncontrolled inflation was eroding the value of the dollar and that holding assets like Bitcoin and gold was a better option.
His statement came as the US dollar index has been in a relentless sell-off this year as inflation has remained significantly above the Federal Reserve’s target of 2.0%. The DXY index has plunged by over 12% from its highest level this year.
The dollar sell-off may continue in the coming months as the Federal Reserve continues to slash interest rates. It has already cut interest rates from 4.25% to 4% and analysts expect some more cuts as the labor market deteriorates and the government shutdown accelerates.
Bitcoin and Gold Have Beaten the US Dollar
Kiyosaki’s statement also came as investors have flocked to Bitcoin and other safe-haven assets, boosting their prices to a record high.
Gold price crossed the important resistance at $4,000 for the first time ever and has now jumped by over 40% this year alone. The popular SPDR Gold Shares ETF (GLD) has had over $15 billion in inflows this year.
Bitcoin price jumped to a record high of over $126,000 on Monday as the cumulative ETF inflows in all funds has jumped to over $61 billion. BlackRock’s IBIT ETF has crossed the $100 billion asset mark, making it the most profitable fund by the company.
Kiyosaki has always maintained a bullish Bitcoin price forecast. He believes the coin will end the year at $500,000 and reach $1 million by 2030.
Other top analysts are also highly bullish on Bitcoin, expecting the momentum to continue. BlackRock analysts believe that the coin will jump to $700,000, while Cathie Wood’s Ark Invest sees it rising to $2.4 million over time. Other analysts who are highly bullish on the coin include those from companies such as VanEck, Invesco, and Bitwise.
Bitcoin Has Superior Tokenomics than the US Dollar
One of the most bullish cases for Bitcoin is that it has superior tokenomics than other fiat currencies. Bitcoin has a supply cap of 21 million coins of which over 19 million have already been mined.
Millions of coins have been lost forever, while many more are held by investors who have no interest in selling such as Michael Saylor’s Strategy. Public companies now hold over 1.7 million coins, while Bitcoin ETFs hold coins worth over $168 billion.
At the same time, Bitcoin has a mechanism to reduce its supply growth, known as halving. Halving, which occurs every four years, reduces the block rewards by half, resulting in a higher Bitcoin mining difficulty. These fundamentals explain why the Bitcoin price has jumped from near zero in 2009 to $122,000 today.
The US dollar, on the other hand, is highly inflationary as the Federal Reserve has the power to print as much of it as possible. This money printing will continue as the US government deficit grows.
Indeed, the Fed’s policy has been to put a target of 2.0%, which it has constantly failed to meet. Even if it achieved that policy, the value of $10,000 today would be worth over 20% lower in the next decade.
For example, using historical inflation data, the purchasing power of $10,000 in January 2010 would be equivalent to about $15,000 today. This means that the dollar has lost almost half of its value in this period. The same amount in Bitcoin would be over $15 billion.
The value of the dollar is likely to fall further in 2026, as Donald Trump is expected to replace Jerome Powell as Fed Chair with an official who will be more inclined to cut interest rates at a faster pace.
