Investment and finance best-selling author Robert Kiyosaki recently publicly endorsed MicroStrategy, the leading holder of Bitcoin among publicly traded companies, for its Bitcoin strategy. He also expressed his agreement with MicroStrategy’s founder Michael Saylor’s prediction that Bitcoin will reach $13 million.
Benefiting from Bitcoin’s continuous all-time highs, MicroStrategy’s stock price has soared this year, even outperforming Bitcoin itself. MicroStrategy remains committed to its plan of continuing to invest in Bitcoin and recently announced its intention to issue $2.6 billion worth of convertible bonds this week. The proceeds from this issuance will be used to further increase its Bitcoin holdings.
Furthermore, MicroStrategy recently launched the “21/21 Plan,” which involves raising $21 billion in equity financing and issuing $21 billion in bonds over the next three years, for a total of $42 billion. This capital will be used to purchase even more Bitcoin.
MicroStrategy’s founder, Michael Saylor, is very optimistic about Bitcoin’s future. At a Bitcoin conference in July of this year, he boldly predicted that Bitcoin has the potential to reach $13 million by 2045, accounting for 7% of global wealth. In a bull market scenario, he even suggested it could rise to $49 million.
However, MicroStrategy’s Bitcoin strategy has faced criticism from some market participants. Recently, MicroStrategy was targeted by the US short-selling firm Citron Research, which claimed that the trading volume of MicroStrategy’s stock has completely detached from the fundamentals of Bitcoin. Despite their positive view on Bitcoin, they have gone short on MicroStrategy to hedge their position. In response to this news, MicroStrategy’s stock price plummeted over 16% on Thursday.
Robert Kiyosaki, the author of the investment and finance bestseller “Rich Dad Poor Dad,” expressed strong support for Michael Saylor’s Bitcoin strategy in a recent tweet. He also agreed that Bitcoin will reach $13 million.
Kiyosaki has long criticized the rapid growth of US national debt, which he believes will lead to severe inflation of the US dollar, rendering it practically worthless, similar to “toilet paper.” He has repeatedly urged investors to turn to safer assets such as gold, silver, and Bitcoin. Earlier this month, he disclosed his initial investment cost and current holdings of Bitcoin.
Kiyosaki revealed that he bought his first Bitcoin at $6,000 and continued to add to his position as Bitcoin rose to $76,000. He currently holds 73 Bitcoins and hopes to increase his holdings to 100 Bitcoins within the next year, regardless of the price. He plans to store more of his income in Bitcoin, gold, and silver, which he considers to be true currencies.