Robert Kiyosaki, the author of the bestseller “Rich Dad, Poor Dad” and an entrepreneur, has explained why he invests in the leading cryptocurrency and encourages others to do the same.
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) January 31, 2024
“Bitcoin is protection against the theft of our wealth. [Jerome] Powell, Chairman of the Fed, [Janet] Yellen, Treasury Secretary, and Wall Street bankers steal our savings through our money, specifically via inflation, taxation, and stock price manipulation,” he stated.
The entrepreneur added that for this reason, he prefers to keep his savings in digital gold rather than in securities and “fake dollars.”
In a recent episode of his podcast, The Rich Dad Channel, Kiyosaki admitted that he does not understand Bitcoin.
“I just know that smart people are behind it, and thank God I bought it earlier,” the entrepreneur said.
The expert discussed with guests, including Miles Franklin CEO Andy Schectman and American Gold Exchange head Dana Samuelson, the “eternal value” of silver and gold in relation to fiat money. Kiyosaki also compared Bitcoin to precious metals in this regard.
In September 2022, he urged the purchase of cryptocurrencies ahead of the “biggest economic crash in history.” In October, the writer recommended investing in Bitcoin and other digital assets amid the rising Fed rate.
In February 2023, Kiyosaki predicted Bitcoin’s rise to $500,000 by 2025 and called it the best insurance in unstable times, but warned of price volatility.
In March, the entrepreneur urged investment in digital gold and precious metals ahead of an “emergency landing” amid issues with regional American banks. He reiterated his recommendations in April and May.
Following the approval of spot Bitcoin ETFs by the SEC, Kiyosaki predicted Bitcoin could rise to $150,000 and again urged the exchange of “fake dollars” for gold, silver, and cryptocurrency.