Robert Kiyosaki, the author of the bestselling investment book “Rich Dad, Poor Dad,” recently publicly endorsed the Bitcoin strategy of MicroStrategy, the dominant holder of Bitcoin among publicly traded companies. He also expressed agreement with MicroStrategy’s founder Michael Saylor’s prediction that Bitcoin will reach $13 million.
Benefiting from Bitcoin’s continuous record-breaking highs, MicroStrategy’s stock price has surged this year, even outperforming Bitcoin itself. MicroStrategy plans to continue investing in Bitcoin and recently announced its plan to issue $2.6 billion worth of convertible bonds this week, with the proceeds to be used for further Bitcoin purchases.
In addition, MicroStrategy recently launched the “21/21 Plan” at the end of last month, aiming to raise $21 billion in equity financing and issue $21 billion in bonds over the next three years, for a total of $42 billion. The funds raised will be used to acquire more Bitcoin.
Michael Saylor, the founder of MicroStrategy, is highly optimistic about the future of Bitcoin. At the Bitcoin conference in July, he boldly predicted that Bitcoin has the potential to reach $13 million by 2045, accounting for 7% of global wealth. In a bull market scenario, it could even rise to $49 million.
However, MicroStrategy’s Bitcoin investment strategy has faced criticism from some market participants. Recently, the company was targeted by the U.S. short-selling firm Citron Research, which pointed out that MicroStrategy’s stock trading volume has completely detached from the fundamentals of Bitcoin. Despite still being bullish on Bitcoin, Citron Research has shorted MicroStrategy as a hedge. As a result of this news, MicroStrategy’s stock price plummeted over 16% on Thursday.
Robert Kiyosaki, the author of “Rich Dad, Poor Dad,” expressed strong support for Michael Saylor’s Bitcoin strategy in a recent tweet and agreed that Bitcoin will reach $13 million. He plans to increase his Bitcoin holdings to 100 coins.
Robert Kiyosaki has consistently criticized the rapid growth of U.S. national debt, which he believes will lead to severe inflation of the U.S. dollar, ultimately rendering it worthless, akin to “toilet paper.” He has repeatedly urged investors to shift to safer assets like gold, silver, and Bitcoin. He also disclosed his initial investment cost and current holdings of Bitcoin earlier this month.
Robert Kiyosaki revealed that he bought his first Bitcoin at $6,000 and continued to add to his holdings as Bitcoin rose to $76,000. He currently owns 73 Bitcoins and plans to increase his holdings to 100 coins within the next year, regardless of the price. He intends to store more of his income in Bitcoin, gold, silver, and other real currencies.