Robert Kiyosaki, the Rich Dad Poor Dad author, just made yet another price prediction, this time for Gold. Although the two assets are considered direct competitors by investors, they had in recent times traded in positive correlation amid unforeseen market situations like the US regional banking crisis in March 2023.
In the recent past, speculation is rife that Bitcoin would eventually stabilize as an investment choice from currently being a risky option. However, for Bitcoin adoption to grow as much as gaining the status of Digital Gold could take much longer, if at all.
Despite a healthy rise in crypto market prices starting from January 1, 2023, repeated setbacks in the form of U.S. Securities and Exchange Commission (SEC) enforcement actions on crypto firms led to fear and uncertainty. Meanwhile, the Bitcoin price suffered a steady drop in value last week, owing to weakened macroeconomic conditions.
Kiyosaki reacted to the prediction of a Gold price crash by influencer Steve Van Meter. On the prospect of Gold coming down crashing to $1,000, the Rich Dad Poor Dad author said he would keep on buying Gold if that goes on to be true. However, a Gold crash could mean a Bitcoin price jump as a ripple effect, thanks to the traditional inverse correlation between the two assets.
Recently, it was found that Bitcoin price correlation with Gold was around 0.50, which means they both rose in parallel.
Kiyosaki plans to keep Bitcoin (BTC) too besides Gold and Silver, considering the price rise in the crypto market.