$BTC: ‘Rich Dad Poor Dad’ Author Says ‘Bitcoin Best for Unstable Times’
On Friday (17 February 2023), Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, shared his latest thoughts on his three favorite commodities — gold, silver, and Bitcoin.
“Rich Dad Poor Dad, “which is one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”
At various times during the past three years, Kiyosaki has been criticizing the Federal Reserve’s response to the resulting economic fallout and strongly urging his large following on social media platforms to protect themselves from what he feels is inevitable high inflation (and possibly hyperinflation) in the future by using their fiat holdings to buy silver, gold, and Bitcoin.
Episode #263 of Anthony Pompliano’s “Pomp Podcast,” which was released on 7 April 2021, featured an interview with Kiyosaki.
During that interview, Pompliano asked Kiyosaki’s thoughts on “traditional inflation hedge” assets.
Kiyosaki said:
“Gold and silver are God’s money. Bitcoin is open source people’s money.“
On 30 December 2022, Kiyosaki told his 2.3 million followers that he is bullish on Bitcoin because unlike most other cryptoassets it is a commodity and therefore not impacted by future actions of the U.S. Securities and Exchange Commission (“SEC”):
Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC— Robert Kiyosaki (@theRealKiyosaki) December 31, 2022
On 10 February 2023, Kiyosaki sent out a tweet that suggested he believes the Bitcoin price will crash in the short term, but he does not appear to be worried because he said that this was good news since it would enable him to use his dollar get his hands on more $BTC.
CRASH is here. Silicon Valley first dominos fall laying off 144,000 in 2022. 66,000 more 2023. VALENTINES DAY MASSACRE predicted by Stansberry Research. Everything will crash including prices gold, silver, BC. Do not panic. Good news. I will buy more G,S,BC, real money w/ fake $.
— Robert Kiyosaki (@theRealKiyosaki) February 10, 2023
As for the medium term, he seems highly bullish on Bitcoin since he believes that the Fed will be forced to do so much money printing in the future that the Bitcoin price will reach $500K by 2025.
Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin people’s $. Take care.
— Robert Kiyosaki (@theRealKiyosaki) February 13, 2023
And on 17 February 2023, Kiyosaki tweeted that although the prices of his three favorite commodities can go up as well as down, during “unstable times,” they are the best assets to hold:
For years I have been saying, “Saving money,& investing in a well diversified portfolio of stocks, bonds, mutual funds & ETF’s is risky advice. Today very risky advice. I still believe Gold, silver, Bitcoin best for unstable times, although prices will go up and down. Take care.
— Robert Kiyosaki (@theRealKiyosaki) February 17, 2023
