The latest episode of The Rich Dad Radio Show With Robert Kiyosaki, which was released earlier today, featured an interview with Robert Breedlove, Founder and CEO of Parallax Digital, who explained why he believes Bitcoin will be worth over $125 million by 2031.
Kiyosaki is the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, shared his latest thought on silver, gold, and Bitcoin.
Rich Dad Poor Dad, which is one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”
At various times during the current COVID-19 pandemic, Kiyosaki has been criticizing the Federal Reserve’s response to the resulting economic fallout and strongly urging his large following on social media platforms to protect themselves from what he feels is inevitable high inflation (and possibly hyperinflation) in the future by using their fiat holdings to buy silver, gold, and Bitcoin.
Breedlove made this bold prediction during his chat with Kiyosaki:
“Going into 2031… I would expect the U.S. money supply to expand from $20 trillion today to about $500 trillion in the next 10 years. I expect global M2 expand roughly 12X from around $100 trillion to about $1,250 trillion — $1.25 quadrillion –and the difference there is a lot of the weaker international currencies will have collapsed into the dollar.
“So, the dollar will actually have grown in purchasing power overall, and I think by this time, so going into 2031, let’s say, Bitcoin will have continued its growth trajectory. It will have played out another one of these price cycles, possibly its price cycle will have broken and it’s just gone into a long slow grind upwards as people realize it’s a game of accumulation.
“I think bitcoin by this time will have reached about 20% of global purchasing power. So, this would imply Bitcoin’s market cap in 2031 dollars to be about $250 trillion. So, that’s about 1/5 of global M2 stored in Bitcoin. Now, accounting for inflation, that means Bitcoin’s market cap in today’s dollars would be about £20 trillion. So, in 2031 dollars, this is a very bright line to distinguish.
“I think Bitcoin, by the year 2031, will be north of $12.5 million per bitcoin, but adjusting for inflation, it will only feel like north of $1 million per bitcoin in 2021 dollars because a dollar will have lost so much of its value by then.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.