Bitcoin At $50,000 Is Bad News For ‘Mom And Pop’ Says Rich Dad Poor Dad Author Robert Kiyosaki

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Bitcoin At $50,000 Is Bad News For ‘Mom And Pop’ Says Rich Dad Poor Dad Author Robert Kiyosaki

What happened? Robert Kiyosaki, author of Rich Dad Poor Dad, outlined why in his latest series tweets. Bitcoin's (CRYPTO : BTC) The rise in Bitcoi

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What happened? Robert Kiyosaki, author of Rich Dad Poor Dad, outlined why in his latest series tweets. Bitcoin’s (CRYPTO : BTC) The rise in Bitcoin to $50,000 is not good news for everyone.

He stated that while Bitcoin holders might appreciate the price of leading digital assets, it is bad news for “mom and pop.”

Kiyosaki presumably meant that the average investor who invests in conventional financial systems would be called “mom-and-pop”.

He explained that the main reason he invested in Bitcoin, gold and silver was because he doesn’t trust the Fed or the stock market leaders.

He said, “Unfortunately, mom and dad who save money do so.”

The author had earlier told his 1.7million Twitter followers that Bitcoin was booming but gold was stagnant and the U.S. Dollar is falling.

He continued to say that silver is now 50% lower than its all-time highs, and that it is the best low-risk investment with high potential.

“Bitcoin has the greatest upside.” With dollar dropping Bitcoin and silver are the best investments,’ he explained.

Price Action Bitcoin fell by 2.97% after Kiyosaki’s tweets and is now below the $50,000 mark.

The market-leading cryptocurrency asset, at the time of writing, was trading at $48,902.

Daily trading volume for cryptocurrency fell by 10.38% in the last 24 hours to $32.8 billion as of press time.