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(Kitco News) - Robert Kiyosaki, author of Rich Dad Poor Dad, pushed back against a report from the Wall Street Journal that said the U.S. economy is strong, saying that the main reason the stock market is up is due to the recent increase in the debt ceiling.

WSJ claims [the] economy is strong, Kiyosaki tweeted on Sunday. Dont they know the stock market is up because Biden raised debt ceiling[?] America's debt is going upso [the] stock market going up. Numb nuts. America is broke.

This led Kiyosaki to reiterate his opinion on the best place for people to hold their wealth. Still prefer gold silver Bitcoin, he said.

Aside from the state of the U.S. economy, Kiyosaki also sees this as an opportune time to decrease exposure to the U.S. dollar ahead of the rumored launch of a gold-backed currency by the BRICS nations.

August 22, 2023, approximately 41 nations, possibly even France, gang up in South Africa to de Dollarize the world, Kiyosaki tweeted on Wednesday. Proposal: BRICS nations will launch bric their money. 1 bric = 1 oz of gold=$3,000. Bye bye USA.

The best-selling author previously voiced his concerns about the launch of a BRICS currency, saying the USD would die, and trillions of [dollars] will rush home to the U.S., sending inflation through the roof.

This outlook led him to say that Bitcoin (BTC) would hit a price of $120,000 by the end of 2024 and $500,000 by the end of 2025.

And it's not just Kiyosaki that is pitching the advantages of Bitcoin, gold, and silver, as Galaxy Digital CEO Mike Novogratz recently told Bloomberg News these assets should be a focus for younger investors with higher risk tolerance and money to invest.

If they were young and had a high-risk tolerance, Id be buying Alibaba stock, Novogratz said. Id be buying silver, gold, Bitcoin, and Ethereum. Thatd be my portfolio.

The reference to Alibaba stock came in response to a line of questioning related to artificial intelligence and ways that investors could capitalize on the hype surrounding the industry.

For investors with lower risk tolerance, Novogratz said they should put 30% in a portfolio comprised of the riskier assets he named and 70% in bonds and products like an index fund.

Novogratz has been a longtime Bitcoin and cryptocurrency proponent, but his bullishness on the asset class increased even more after BlackRock, the worlds biggest asset manager, filed an application for a spot BTC exchange-traded fund (ETF).

The most important thing that happened this year in Bitcoin is Larry Fink, Novogratz said during an interview with Bloomberg Wealth, referring to the CEO of BlackRock. He got orange-pilled, as we say. Orange pill is when you take a nonbeliever and you make them a believer in Bitcoin. Larry was a nonbeliever. Now he says, Hey, this is going to be a global currency. People around the world all trust it.

Novogratz added that Finks shift in attitude is part of an adoption cycle that could help Bitcoin surpass its all-time high of nearly $69,000, especially if the Federal Reserve pivots towards cutting rates, as many analysts are anticipating.

He also said the recent ruling in the Securities and Exchange Commissions case against Ripple Labs represented a huge victory for the crypto industry because it proves that the rules are nothing close to clear.

In March, as multiple bank failures raised the prospect of a widespread banking crisis, Novogratz said, This is cryptos moment. Crypto was, in lots of ways, created for this point, right? Satoshi Nakamoto way back in 2009 worried about the breakdown of the legacy financial system. He worried about populism infecting our politics and a constant printing of fiat currencies and a debasement of money, and created Bitcoin.

He also noted other macro factors that are pushing hedge funds around the world to take a closer look at gold and Bitcoin.

This war between China and the U.S. with Russia as a proxy is going to push the gold narrative, and the digital version of that is Bitcoin, and so I think from a macro investor perspective, its very clear, Novogratz said.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Kiyosaki and Novogratz agree: Bitcoin, gold, and silver are the ... - Kitco NEWS