'Rich Dad, Poor Dad' Author Behind Massive BTC Price Predictions Faces $1.2 Billion Debt

Robert Kiyosaki, the infamous author of "Rich Dad Poor Dad" and one of Bitcoin’s most outspoken boosters, is once again in the spotlight. This time, he has generated headlines over a staggering $1.2 billion debt figure linked to his real-estate investments, the New York Post reports.

Kiyosaki has long argued that debt can be a wealth-building tool when it is used to acquire assets capable of producing income.

However, the $1.2 billion figure should not be interpreted as money Kiyosaki personally owes.

His former wife and business partner, Kim Kiyosaki, told "Vanity Fair" that the debt is largely associated with a real-estate portfolio of roughly 1,500 apartment units. She said Kiyosaki's personal portion of the liabilities is considerably smaller.

Vanity Fair estimated that Kiyosaki's share could be somewhere between $30 million and $60 million.

He can borrow against the equity without selling the underlying assets. The borrowed money can then be used to acquire additional assets or provide liquidity.

Kiyosaki's aggressive Bitcoin price targets

For years, the "Rich Dad Poor Dad" author has been among Bitcoin's most aggressive price bulls, repeatedly predicting figures that have appeared extraordinarily ambitious compared with prevailing market prices.