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Langgam Pos - Robert Kiyosaki, the author of "Rich Dad Poor Dad," shared his prediction on the potential impact of former President Donald Trump's re-election on various assets via the social media platform X on Tuesday.
Kiyosaki forecasted that Bitcoin's price could rise from USD 67,400 (approximately IDR 1.09 billion at an exchange rate of IDR 16,215 per USD) per coin to USD 105,000 (approximately IDR 1.70 billion) by August 2025. "Gold, silver, and Bitcoin prices will increase if Trump becomes president again. Trump wants a weaker US dollar so that America will start exporting more than importing," Kiyosaki stated on his X account, as quoted by Bitcoin.com on Thursday (25/7/2024).
He added that a weaker dollar would lead to job recovery and asset price increases. Additionally, he noted that Trump plans extensive oil drilling, which would lower oil prices.
"A weaker US dollar will boost exports, create jobs, open new factories, and increase the prices of gold, silver, Bitcoin, stocks, and real estate," Kiyosaki emphasized.
In contrast to Trump's oil policies, Kiyosaki criticized President Joe Biden, stating that Biden did the opposite. Biden's first action was to shut down the Keystone XL pipeline. When Biden shut down the pipeline, oil prices soared from USD 30 per barrel to USD 130 per barrel.
He explained that high oil prices led to massive inflation, devastating the poor and middle classes. Biden then had to tap into America's oil reserves because the US did not have enough oil.
Kiyosaki has made several predictions about gold, silver, and Bitcoin. Earlier this month, he predicted an impending economic collapse followed by a massive bull market, where Bitcoin could reach USD 10 million per coin.
Robert Kiyosaki: US Dollar Will Be Overtaken if BRICS Produces Crypto
Previously, renowned author Robert Kiyosaki reiterated concerns about the downfall of the US dollar. He cited worries about the BRICS economic bloc potentially developing a cryptocurrency backed by gold.
"I am currently in South Africa, a country I love. Watching and listening to rumors about what will happen when BRICS countries—Brazil, Russia, India, China, South Africa—produce a BRICS crypto possibly backed by gold," Kiyosaki wrote on X, as quoted by news.bitcoin.com on Tuesday (14/5/2024).
"If BRICS gold crypto happens, trillions of fake dollars, US fiat dollars, will flow back to America, causing hyperinflation in America, which will ultimately destroy the US dollar," he mentioned.
Kiyosaki then recommended his usual mix of investments. "It's better to buy real gold, silver, and Bitcoin now and protect yourself from the fall of the US dollar," he continued.
Last year, there was speculation that the BRICS economic group might form a common currency backed by gold.
Although it was initially expected to be a topic of discussion at the upcoming BRICS leaders' summit in August, the focus has shifted to promoting the use of local currencies in trade settlements, aiming to reduce reliance on the USD.
For your information, Robert Kiyosaki is known for his book "Rich Dad Poor Dad," released in 1997, co-written with Sharon Lechter. The book has been on the New York Times Bestseller List for over six years.
Speculation on BRICS Common Currency Diminishes
Currently, discussions about a common BRICS currency have subsided, with projections indicating a long realization timeline.
Additionally, the economic coalition extended invitations to five new countries at the leaders' summit. The new BRICS members are Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia.
Meanwhile, Kiyosaki has consistently voiced concerns about the fall of the US dollar.
In March, he urged investors to shift from USD to Bitcoin, gold, and silver. He views BTC as "the perfect asset at the right time."
Indian Crypto Exchange Faces USD 230 Million Hack
Previously, India's largest crypto exchange, WazirX, filed a police complaint after a hack valued at USD 230 million (approximately IDR 3.726 trillion at an exchange rate of IDR 16,200 per USD).
The company also reported the incident to the Indian Computer Emergency Response Team (CERT). It is suspected that the company is seeking assistance from India's main agency to respond to this computer-related security incident.
This development came after a fund withdrawal of up to USD 230 million due to a security breach affecting one of its wallets.
WazirX stated that many crypto exchanges are cooperating with it to trace the stolen funds, recover customer assets, and conduct a deeper analysis of the digital attack.
"The company is also collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators," WazirX stated, as quoted by CoinDesk.
In India, after a complaint is filed, the first information report (FIR) is prepared by the police if a formal investigation is required. This police involvement could mean further scrutiny of WazirX's books, operating systems, and security standards.
In this matter, India's Finance Ministry declined to comment as cryptocurrencies are unregulated without legislation passed by Parliament.
This sector is beyond the reach of almost all authorities, except for a few like the Financial Intelligence Unit (FIU) under India's Finance Ministry.
However, given that the WazirX case is a security breach, the incident does not fall under the FIU's scope.
"So far, there are no specific regulations for crypto in India. The industry (crypto) should benefit from clear rules, gain security standards, and customer protection," said Joanna Cheng, Associate General Counsel at Fireblocks.
Previously, India's largest crypto exchange, WazirX, filed a police complaint after a hack valued at USD 230 million (approximately IDR 3.726 trillion at an exchange rate of IDR 16,200 per USD).
The company also reported the incident to the Indian Computer Emergency Response Team (CERT). It is suspected that the company is seeking assistance from India's main agency to respond to this computer-related security incident.
This development came after a fund withdrawal of up to USD 230 million due to a security breach affecting one of its wallets.
WazirX stated that many crypto exchanges are cooperating with it to trace the stolen funds, recover customer assets, and conduct a deeper analysis of the digital attack.
"The company is also collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators," WazirX stated, as quoted by CoinDesk.
In India, after a complaint is filed, the first information report (FIR) is prepared by the police if a formal investigation is required. This police involvement could mean further scrutiny of WazirX's books, operating systems, and security standards.
In this matter, India's Finance Ministry declined to comment as cryptocurrencies are unregulated without legislation passed by Parliament.
This sector is beyond the reach of almost all authorities, except for a few like the Financial Intelligence Unit (FIU) under India's Finance Ministry.
However, given that the WazirX case is a security breach, the incident does not fall under the FIU's scope.
"So far, there are no specific regulations for crypto in India. The industry (crypto) should benefit from clear rules, gain security standards, and customer protection," said Joanna Cheng, Associate General Counsel at Fireblocks.
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