Rich dad’s prediction: The dollar weakens and asset prices soar
Recently, Robert Kiyosaki, author of "Rich Dad, Poor Dad," predicted that the U.S. dollar will weaken in the coming months. Kiyosaki believes that a weaker U.S. dollar is beneficial to the United States, as it can cause exports to exceed imports, thereby driving the return of employment and pushing up asset prices.
He pointed out that the depreciation of the dollar will promote export growth and push up the prices of gold, silver, Bitcoin, stocks and real estate. According to Kiyosaki’s prediction, the price of gold will rise from US$2,400 to US$3,300 per ounce, silver will rise from US$29 to US$79 per ounce, and Bitcoin will rise from US$67,400 to US$105,000. The time point is set in August 2025. moon.
Peter Schiff's response: Bitcoin is worthless
However, Peter Schiff, a prominent critic of cryptocurrencies, expressed doubts about Kiyosaki’s prediction. Schiff believes that while a weaker dollar may benefit some Americans, it will ultimately make the country poorer. He expects such an economic shift to lead to higher oil prices, although domestic drilling activity is likely to increase. Schiff further noted that while gold and silver prices may exceed Kiyosaki’s predictions, Bitcoin may decline in value.
Schiff posted a statement on social media: "Bitcoin cannot solve any problems. It is neither a real currency nor has intrinsic value. Rather than believing that Bitcoin can save the economy, it is better to invest in assets that have real value. Such as gold and silver."
Image source: X Peter Schiff left a message under Robert Kiyosaki’s post: “Bitcoin can’t solve anything.”
The economic outlook debate: Who will win?
The debate between Kiyosaki and Schiff raises major questions about the future of the U.S. economy and the role of cryptocurrencies. Kiyosaki believes a weaker dollar will spur job growth and higher asset prices, but Schiff warned it could bring broader economic challenges and higher costs. The debate reflects uncertainty among the investment community about the future of the economy.
Some economists support Kiyosaki's view that a weaker dollar can improve the trade deficit and boost economic growth. These experts pointed out that a weak dollar will make U.S. products more competitive in the international market, thereby driving a rebound in exports and manufacturing. However, the risk with this strategy is that it could stoke inflation and increase the cost of imported goods, especially key resources such as oil.
Schiff's supporters, on the other hand, emphasize that Bitcoin and other cryptocurrencies lack intrinsic value and fluctuate wildly, making them unsuitable as long-term investments. They believe that traditional precious metals such as gold and silver remain the best choice against economic instability. Schiff has repeatedly stressed that Bitcoin's price rise is a speculative bubble that will eventually burst.
Overall, the debate revealed the different perspectives investors have on asset allocation in the current economic climate. As global economic uncertainty increases, investors must carefully evaluate the risks and potential returns of various assets. Whether you choose traditional safe-haven assets such as gold and silver, or venture into cryptocurrencies such as Bitcoin, you need a deep understanding of the market and a clear investment strategy.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
