“Bitcoin is the easiest way to become a millionaire”: Robert Kiyosaki

Robert Kiyosaki, author of the book “Rich Dad, Poor Dad,” said that The easiest way to become a millionaire is through the accumulation of bitcoin (BTC).

In turn, in a post on the social network X, he suggested that it is even more difficult to start a new business.

“Bitcoin is the easiest way to become a millionaire. Making millions as an entrepreneur is difficult. I know. You have to be very smart, dedicated and lucky to become a millionaire by starting your own business. I save in bitcoin because bitcoin does the hard work for me. “That’s why I love bitcoin.”

Robert Kiyosaki, writer

Kiyosaki is an investor who was massively recognized after the publication of his book “Rich Dad, Poor Dad” in 1997. In the past he had already expressed his favoritism for investments in raw materials such as gold and silver, as opposed to to state currencies that are constantly devalued.

For some time now, he has added bitcoin as another of his favorite assets and these statements about his closeness to the digital currency were not the first.

At the beginning of 2024, Kiyosaki, there was manifested that by June 2024 the price of BTC would be $100,000.

Although the American author’s prediction did not materialize (at least, for now), it is true that since the beginning of 2024 was a year of growth for bitcoin. As for its price, since approximately May 22 it has been disputing the region of $68,000 and $71,000. As can be seen in the following TradingView chart, the price of BTC is not being able to break the resistance in the $72,000 area.

The first half of 2024 for bitcoin was involved in a very positive situation. Since January, with the implementation of ETFs in the United States, going through a new halving on April 20 and acquiring throughout these six months new corporations that adopt the digital currency as a store of value.

Regarding this last point, yesterday CriptoNoticias detailed what was done by the company DeFi Technologies. The Canadian company announced that it will follow in the footsteps of MicroStrategy and bought 110 bitcoin for a figure close to 7.7 million dollars.

For its part, Michael Saylor’s American company, MicroStrategy, currently has the most bitcoin in its coffers of the publicly traded companies. It accumulates a total of 214,400 bitcoin, which translates into 7,542 million dollars.

Behind Saylor’s corporation is another American company. This is Maraton Digital Holdings, dedicated to technology and digital assets. This has 17,631 bitcoin, almost 1.2 billion dollars.

Another recent case is that of the American company Semler Scientific. It announced that it will raise funds of around $150 million for the phased purchase of BTC. In addition, it has already accumulated holdings of 828 bitcoin, which is equivalent to approximately 59 million dollars according to the price at the time of this note.

The common point of these companies is that they consider bitcoin as a refuge against inflation. These decisions by large corporations in the traditional market provide bitcoin with greater confidence.

In this way, although the price of bitcoin seems to be far from the $100,000 announced by Kiyosaki, the digital ecosystem presents great expectations for the future of BTC.

Is it really that easy to become a millionaire with bitcoin?

However, it is worth clarifying that the speed with which Kiyosaki suggests that the price of bitcoin could move is a bold assumption, at least. Although it is true that the digital ecosystem presents great volatility in its prices, The consolidation over the years of BTC as an asset appreciated by the market led to these movements becoming less and less intense.

So, unless an investor has large amounts of money to enter the market and a small price gap gives them a substantial profit, it no longer seems so simple to “become a millionaire” easily with bitcoin, as Kiyosaki assumes.

Currently, bitcoin is the ninth largest capitalization asset with 1,316 trillion dollars. If it will reach gold (which is difficult to happen in the short term), which leads that table with 15,642 trillion dollars (approximately ten times more than BTC), a person should invest at least 100,000 dollars and expect their money to multiply by 10 to become a millionaire. Not everyone has $100,000 to invest in bitcoin.

Likewise, entrepreneurship, which (as Kiyosaki certainly says) is more difficult, It can provide constant income and generate capital that can then be invested in bitcoin to preserve its value.

Entrepreneurship seems to be a reasonable wealth generation strategy, sustainable over time, and more applicable for the majority of people who do not have a large fortune to invest. The profits obtained by these ventures can be invested in BTC (or even receive payments in BTC) and will probably increase in value and be sheltered from inflation, as the years go by.