Robert Kiyosaki thinks Bitcoin's price will double to $50,000 in 2021

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, said that Bitcoin is heading to $50,000 in 2021 and will surpass 10% of gold's market cap.

Robert Kiyosaki thinks Bitcoin's price will double to $50,000 in 2021

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, said in a series of tweets that Bitcoin is heading to $50,000 in 2021 and will surpass 10% of gold's market cap. "Glad I bought Bitcoin," he said, "Next stop $50,000. Wall of institutional money coming 2021. Buy below $20,000. 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, [and] Bitcoin entrepreneurs. Currently, Bitcoin represents 2.9% of gold’s market cap, and he anticipates this number to increase to 10% at least. If Bitcoin hits $50,000, its market cap would reach $928 billion, which is 10.3% of gold’s market cap. Kiyosaki has had some confusing takes on Bitcoin in the past. In September, he said that bitcoin would "crash" once the vaccine was safely distributed and the pandemic is over. He said that bitcoin was likely being viewed as a financial hedge against inflation and a “safe haven” during harsh economic circumstance. Thus, silver, gold, and bitcoin would have short-term success. However, he has since taken a much more bullish long-term stance on the leading cryptocurrency with his $50,000 price prediction this week. Kiyosaki's award-winning book has a simple premise to focus on cashflow instead of net worth. In 1994, he says he and his wife Kim, 37, were financially free. "Most people thought we had made millions of dollars to retire on," he said, "That wasn't the case. Instead we followed what my rich rad had taught me about money and investing. And the two key words are cash flow." The book has reportedly sold more than 32 million copies in 40 languages across 40 countries since it was published in 2002. Bitcoin has a market cap of about $440 billion, while that gold stands at roughly $10 trillion.