Robert Kiyosaki, author of the bestseller “Rich Dad, Poor Dad” and entrepreneur, has suggested that the leading cryptocurrency could be a scam and plummet to zero.
Q: Are you a Bitcoin Bull?
A. Yes. Bitcoin is the perfect asset at the right time. I love Bitcoin. Wish I had bought more earlier.
Q: Is it possible that Bitcoin is a scam, a Ponzi scheme?
A: Yes. It is possible Bitcoin is a scam and a Ponzi scheme.
Q: Aren’t you…
— Robert Kiyosaki (@theRealKiyosaki) March 26, 2024
According to him, Bitcoin is no more a scam or Ponzi scheme than the US dollar, euro, yen, or any other “fake” or fiat currency.
“The entire US dollar is American debt. [I am concerned about] our political, banking, and financial leaders. They are either incompetent, corrupt, or both. Our leaders have no idea how to control the growing national debt and the US bond market, as well as the overly inflated stock market,” Kiyosaki explained.
He believes that the US is bankrupt, printing $1 trillion every 90 days just to pay the bills.
“They should be retired, fired, impeached, or jailed. They should get their college tuition refunded. Obviously, they learned nothing about money, ethics, honesty, or morals in school. They have robbed the American people and people worldwide,” Kiyosaki stated.
The investor again advised against hoarding “fake fiat dollars” and instead suggested buying gold, silver, or Bitcoin. He noted that he follows his own advice.
“Nothing has changed. […] As I noted 27 years ago in my book ‘Rich Dad, Poor Dad’, those who accumulate fake money are losers. Please, do not be losers. Accumulate real gold and silver coins, as well as real Bitcoin,” the expert emphasized.
Kiyosaki acknowledged that Bitcoin’s price could drop to zero, but so could the US dollar, Australian dollar, British pound sterling, Japanese yen, and any country’s fiat currency. History shows that thousands of “fake” currencies have already gone to the fiat money graveyard, he added.
On March 25, Kiyosaki mentioned his intention to purchase 10 more BTC before April, when the first cryptocurrency network is expected to undergo a halving. He also predicted Bitcoin’s rise to $100,000 by September 2024.
I am buying 10 more Bitcoin before April. Why? The “Having.” If you can’t afford a whole Bitcoin you may want to consider buying 1/10 of a coin, via the new ETFs or Satoshi’s.
If the Bitcoin process works as designed you may own a whole Bitcoin by the end of this year.
I…
— Robert Kiyosaki (@theRealKiyosaki) March 25, 2024
In January, following the approval of spot Bitcoin ETFs in the US, Kiyosaki predicted a price surge to $150,000. The entrepreneur urged exchanging “fake dollars” for gold, silver, and the leading cryptocurrency.
Later, he explained that he views Bitcoin as a “safeguard against wealth theft” by authorities and bankers through inflation, taxes, and stock price manipulation. For this reason, he prefers investing in digital gold and encourages others to do the same.
In September 2022, Kiyosaki recommended buying Bitcoin and other cryptocurrencies ahead of the “biggest economic crash in history.” In November, he reaffirmed his commitment to digital gold despite the FTX collapse.
In March 2023, the entrepreneur urged investment in Bitcoin and precious metals amid issues with regional American banks. He reiterated his recommendations in April and May.
In September, Kiyosaki stated that investing in Bitcoin is essential before the launch of the digital dollar in the US. Prior to this, he criticized the idea of CBDCs.
In March 2024, the investor predicted Bitcoin’s rise to $300,000 within the year.