What Happened: In his latest series of tweets, Rich Dad Poor Dad author Robert Kiyosaki outlined why Bitcoin’s (CRYPTO: BTC) rise to $50,000 isn’t good news for everybody.
BITCOIN to $50,000. Great news for Bitcoin holders. Bad news for mom and pop. The primary reason I invest in Bitcoin, gold, & silver is because I do not trust the our leaders, the Fed, Treasury, nor the stock market. Unfortunately mom and pop who save money do. Take care.
— therealkiyosaki (@theRealKiyosaki) August 24, 2021
According to him, while the leading digital assets price appreciation might be great news for Bitcoin holders, it’s bad news for “mom and pop.”
By “mom and pop,” Kiyosaki was presumably referring to the average investors that place their trust in the more conventional financial systems when making investment decisions.
Read also: Bitcoin And Dogecoin Will Rise As US Dollar Is Dying: Rich Dad Poor Dad Author Robert Kiyosaki
As he explained in his tweet, the primary reason he invests in Bitcoin, gold, and silver is that he does not trust the leaders, the Fed, the Treasury, or even the stock market.
“Unfortunately mom and pop who save money do,” he said.
Earlier in the day, the author told his 1.7 million Twitter followers that Bitcoin is booming, but gold is stagnant, and the U.S. dollar is dropping.
He went on to point out that silver is 50% below its all-time highs and is the best “low-risk high potential” investment.
“Bitcoin has the greatest upside. With dollar dropping Bitcoin and silver are the best investments,” he explained.
Price Action: Bitcoin has dropped by 2.97% since Kiyosaki’s tweets, falling below the $50,000 mark.
At the time of writing, the market-leading crypto asset was trading at a price of $48,902.
The cryptocurrency’s daily trading volume fell by 10.38% over the past 24-hours to $32.8 billion at press time.