Famed author of ‘Rich Dad Poor Dad’ touts Bitcoin as hedge against financial erosion

Robert Kiyosaki, the author famed for Rich Dad Poor Dad, is making headlines with his staunch advocacy for Bitcoin (BTC), positioning it as a primary defense against what he views as systematic wealth erosion by institutions like the Federal Reserve, Treasury, and Wall Street bankers. 

Kiyosaki’s investment strategy now strongly favors Bitcoin over traditional assets like stocks, bonds, and fiat currencies, given its decentralized and inflation-resistant characteristics.

Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…

— Robert Kiyosaki (@theRealKiyosaki)

Applauding Bitcoin’s role as a more secure asset, Kiyosaki sharply criticized Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers for their role in diminishing wealth through mechanisms like inflation, taxation, and manipulation of stock prices. He argues that these practices siphon wealth from individuals, a problem he suggests Bitcoin can counteract. 

Moreover, Kiyosaki distinctly set apart his investment approach from traditional methods, emphasizing his preference for Bitcoin over other investment forms. He summarized his investment strategy, stating he opts to “save and invest in Bitcoin, not stocks, bonds, and fake dollars.”

Despite initial hesitations about Bitcoin’s intrinsic value, Kiyosaki now places it in the same league as gold and silver, viewing it as a crucial financial tool. He believes in Bitcoin’s long-term potential, not just as a speculative asset but as a genuine store of value. His forecasts for Bitcoin are optimistic, predicting its price to rise to $120,000 within the year and expecting it to reach an impressive half a million dollars per BTC by 2025. In a scenario of global economic downturn, he speculates Bitcoin could even hit a monumental $1 million.

During a recent episode on ‘The Rich Dad Channel,’ streamed on Jan. 24, Kiyosaki engaged in discussions about Bitcoin and silver with Andy Schectman, CEO of Miles Franklin Precious Metals Investments, and Charles Goyette, author and radio talk-show host. Here, he admitted his limited knowledge about Bitcoin but expressed his trust in the digital currency, emphasizing the role of “very smart people” who have backed it. 

Kiyosaki, known for his early investment in Bitcoin, remarked, “I always say ‘gold, silver, and Bitcoin,’ I know nothing about Bitcoin. I just know some very smart people are in it, and thank God I bought early.”

In November, amidst the rising prices of precious metals, Kiyosaki advised his 2.4 million followers on social media to shift from fiat currencies, which he labeled as part of a “fake money system,” to alternative assets like gold, silver, and Bitcoin. He branded the average saver as a “loser” in the current economic climate, advocating for investment in these alternative assets. 

Additionally, Kiyosaki the government’s policies, attributing rising inflation and subsequent struggles to the actions of the “woke government.” He expressed his intention to continue converting his fiat assets into Bitcoin and precious metals, arguing that government actions ultimately lead to war and poverty.

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2024-01-31 13:59