Robert Kiyosaki Highlights Bitcoin “Banana Zone,” Contrasts BTC with Fiat Money

Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad," recently shared his views on Bitcoin's Banana Zone," a term brought into vogue by Raoul Pal, a financial expert.

In his latest X post, Kiyosaki emphasized fiat currency's weaknesses, contrasting it with Bitcoin's robust, rules-based system. He believes Bitcoin offers a more secure and prosperous future for investors.

Robert Kiyosaki on BTC vs. Fiat Money

In a June 26 X post, Kiyosaki highlighted Bitcoin's advantages over fiat currency, emphasizing its stability as a store of value. Kiyosaki describes fiat money as debt-based," often marked with inflation and instability due to the government's uncontrolled currency minting.

Is the Banana Zone real?

Raoul Pal is creating a lot of excitement talking about Bitcoin hitting the Banana Zone."

Q: Does he know what he is talking about? Q: What is the Banana Zone? A: Yes, I believe Raoul PAL knows what he is talking about. A: The Banana Zone" is...

- Robert Kiyosaki (@theRealKiyosaki) June 25, 2024

In contrast, the author of Rich Dad, Poor Dad, believes Bitcoin offers a more secure option that is less susceptible to financial crises. He says Bitcoin's rules-based" system gives it a fixed supply and makes it richer, unlike fiat, which he termed government fake debt-based money" that makes people poorer.

According to Kiyosaki, these attributes make Bitcoin more reliable as a store of value than traditional fiat currencies. Moreover, its decentralized nature further adds to its reliability.

Kiyosaki Credits Raoul Pal for His Bitcoin Investment

Furthermore, Kiyosaki thanked Raoul Pal, a former Goldman Sachs executive, for predicting Bitcoin's entry into the Banana Zone." The Banana Zone refers to a phase where the price of BTC rises quickly, causing regrets among those who missed out on Bitcoin's early days.

Kiyosaki also expressed his complete trust in Pal due to his background as a seasoned financial expert at Goldman Sachs. Several years ago, Robert Kiyosaki disclosed that Raoul Pal persuaded him to begin investing in Bitcoin.

Fortunately, Kiyosaki purchased 30 Bitcoins at that time when the cryptocurrency's price was $6,000. With Bitcoin's current price exceeding $60,000, the bestselling author has gained massive returns from the asset's remarkable growth.

Since his first purchase, Kiyosaki has been bagging lots of Bitcoin every month.

In his words Raoul personally recommended I begin investing in Bitcoin. Because of his encouragement, I bought 30 Bitcoin at $6,000. Today, those same Bitcoin are priced at around $60,000...and I have continued to buy Bitcoin...more every month."

The author and millionaire entrepreneur anticipates a significant rise in Bitcoin's price this year. He predicts Bitcoin could reach $300,000, driven by increased buying from spot ETFs and the impact of the halving that took place in April.

According to Kiyosaki, Bitcoin nears the Banana Zone, which could trigger a significant rise. Hang on tight as Bitcoin lifts off into the Banana Zone," Kiyosaki says.

Being a staunch advocate of Bitcoin, Kiyosaki urges people to understand Bitcoin's benefits over fiat currencies, which could lose value due to inflation.

BTC Recent Price Action

The daily chart shows a bearish market setup for Bitcoin, evident with the formation of a downward trendline.

Notably, this downward pressure started on June 06 when Bitcoin failed to break above $72,000, dropping below crucial support levels. As a result, lots of long positions were liquidated.

The bears have remained in control over the past week, with Bitcoin recording a nearly 6% decline. However, market conditions have improved moderately.

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