Bitcoin
Kiyosaki says dollar decline is imminent, supports BTC and ETH
Last updated: May 10, 2024 05:04 EDT | 1 minute reading
Rich Dad Poor Dad author and renowned investor Robert Kiyosaki believes the US dollar is losing value and has expressed his support for crypto investments.
During a recent podcast episode “The Rich Dad Channel,” Kiyosaki discussed the importance of portfolio diversification, including cryptocurrencies. Speaking with Andy Shechtman, CEO of Miles Franklin Precious Metals, Kiyosaki advocated for investors to turn to gold, Bitcoin It is Ethereum.
He highlighted that the fall of the dollar is imminent, so accumulating alternative investments is vital to be prepared for adverse financial conditions. “Our money is fake,” he observed.
“It’s a reason to buy gold, silver, Bitcoin and all that because our currency is a mess right now, it’s going to get worse because our debt keeps going up.”
Kiyosaki revealed that he bought Ethereum “for the same reason”.
Furthermore, he criticized the lack of financial education in schools, especially when there is already a difficult financial situation. Kiyosaki also highlighted the absence of counterparty risk issues when it comes to borrowing money.
“If I borrow money, who is the guy who will pay me? And gold and silver – you don’t need that – just like Bitcoin, you don’t have counterparty risk.”
Kiyosaki’s Highly Bullish Bitcoin Stance
The best-selling author in March described the world’s largest cryptocurrency – Bitcoin – as “the perfect asset at the right time.” However, he is also having a cautious approach to the wealthy class, doubting its potential to be a fraud or a Ponzi scheme.
Kiyosaki has maintained a bullish stance on Bitcoin over the years. In November 2023, the financial educator said that Bitcoin is the “better protection” against hyperinflation because it’s the people’s money. He made a historical comparison and urged his followers to consider Bitcoin as a means of protection against hyperinflation.
However, he did not like Bitcoin ETFs, claiming that these financial products are suitable for institutional investors. He prefers direct ownership of physical assets due to his entrepreneurial background.
Kiyosaki invested in a mix of assets such as gold, silver, Bitcoin, which he says are bargains today.