Rob Kiyosaki’s Bitcoin Message to Millennials Has a Greater Impact on You Than His Book

Know who you’re dealing with before taking their advice.

Photo By Gage Skidmore on Flikr

Rob Kiyosaki is a multi-millionaire with a controversial reputation.

He’s an astute marketer who ruthlessly liquidates his companies where vast debts are outstanding.

He talks about poor people like they’re a different breed of human, and his leading marketing tactic is fear.

Fear the government will rob you.

Fear the education system will brainwash you

And fear you’ll be broke.

You may have noticed an uncomfortable amount of videos popping up on your Youtube and Facebook channels with Robert Kiyosaki. It’s because the business education mogul is now getting vocal about popular cryptocurrencies like Bitcoin.

When you watch one Kiyosaki video, the YouTube algorithm floodgates open to countless more, and there’s no going back.

He’s a no-nonsense businessman who wrote one of the best finance books in history.

Rich Dad, Poor Dad, was also one of the first personal finance books I read as a teenager. One of my biggest takeaways from Rich Dad Poor Dad is the importance of thinking outside the traditional mindset of attending school, getting a job, and relying on a paycheck to build wealth.

Whilst I felt there weren’t actionable steps in the book, it left an imprint on me. Poor people buy liabilities, and rich people buy assets.

It’s easy to see why it was such a smash hit because it’s written in such a clear, jargon-free way.

Good Decisions Come From Experience, and Experience Comes From Bad Decisions.

The million-dollar question is, is Kiyosaki a good businessman, or was his money made selling this aspirational life to millennials which made him rich?

As he recalls, his first idea for a business came from surfing out on the beach of Hawaii, where he grew up. Kiyosaki realised surfers had difficulty with what to do with their wallets when surfing.

So in 1977, at 30, he started a company called Rippers that produced the first Nylon and Velcro surfer wallet. He experienced immediate success.

And he would later say this business made him a millionaire at age 30, a claim still unconfirmed.

Later, Rippers would go bankrupt because Kiyosaki failed to acquire his wallet’s valid patents and trademarks.

After this business failed, he invested his money in Property and Small-cap stocks, accumulating a debt of over 1 Million dollars.

He then started a new company that made t-shirts and hats and licenced other products. That Company went bankrupt in 1980 too.

You’ve got to hand it to him, not deterred by failure. In 1985, he launched an Education company that would teach Entrepreneurship and investing. However, at that point, it’s hard to see that he had the success behind him to push business education out to the world.

Well, he did.

And it was his first big winner, with the education company selling for an unknown amount in 1994.

Kiyosaki’s biggest win was yet to come.

He decided to self-publish the book Rich Dad, Poor Dad, which multiple publishers rejected. The book began gaining traction thanks to his partnership with Amway, a multiple-level network marketing company.

In 2007, the UK halted all Amway business operations in the country. Regulators claimed that the Company, short for “American Way”, had exaggerated income claims and profited more from selling educational material to distributors than from legitimate direct selling of products.

Kiyosaki then got a chance of a lifetime to appear on Oprah, which almost didn’t happen because they wanted him to disclose the identity of the Rich dad in his book.

Oprah’s episode sent Rich Dad, Poor Dad to the moon, with 32 million copies sold in 102 countries and 52 languages.

It secured a spot on the New York Times best sellers list for over six years.

And still, people have yet to learn about the existence of his Rich dad.

Kiyosaki — We’re In for a Massive Crash, and if You’re a Saver, You’ll Lose.

While his track record could be better, Kiyosaki’s ability to explain complex topics in an easy-to-learn way is unprecedented.

His perspectives on money and investing contradict conventional thoughts, and he’s gained a reputation as a straight talker and advocate for financial education.

He recently said on Twitter that if you’re a saver, you’re a loser because inflation is unprecedented, and you should invest in real money. Bitcoin.

Rob Kiyosaki — Source

“SAVERS ARE LOSERS.

25 years ago, in RICH DAD POOR DAD, I stated savers are losers.

Today, US debt is in 100s of trillions.

REAL INFLATION is 16%, not 7%.

Fed raising interest rates will destroy the US economy. Savers will be the biggest losers.

Invest in REAL MONEY. Bitcoin.”

Despite being bullish on Bitcoin, he says Millennials fall under three categories regarding Cryptocurrency, and he’s right.

This concept is in his book, but It’s had a more significant impact on me this time.

You’re either an Investor, Trader or speculator.

He highlights no issue with each category but says traders are flippers who will make money until the market crashes.

Speculators are gamblers hoping and praying for the price to go up. When it goes down, they sell out of fear.

Investors buy more when the price goes down.

Robert Kiyosaki — Source

“Never be a speculator or trader — if you are investing in the market, continually invest for the long term and have a long-term time horizon.

So many of those young guys got rich off of Bitcoin, but when the market adjusted, they got afraid.

They were worried because they got rich being speculators and got lucky and just happened to buy 10k Bitcoin at a dollar each, and now they are multi-millionaires.

They fear that if bitcoin goes to zero, which it could, they’ll lose it all.

All you Bitcoin Millennials out there, this is what I do.

I save Gold, Silver, Bitcoin, Ethereum and bullets.

Final Thoughts

I read one fascinating comment about Rob Kiyosaki, which summed him up perfectly.

“Those who can’t do, teach”.

And there’s no doubting his ability as an effective communicator. He has a gift for simplifying complex money-related ideas, impacting millions.

His advice, however, needs to be looked at with a critical lens. Today, if a young entrepreneur gives business advice, it’s open to scrutiny.

Kiyosaki’s advice on avoiding being a speculator or trader and instead investing in the market for the long term is spot on.

He’s right, people who became rich off Bitcoin were speculators who got lucky and bought at a low price, but when the market adjusted, they became afraid of losing everything.

Investing long-term can mitigate this risk.

And grow your wealth over time.

Consider becoming a member if you want daily insights from the leading Crypto, Business, Finance and Technology experts. Your membership fee directly supports the writers you read. I’ll earn a small commission if you sign up using my link. CLICK HERE.

This article is for informational purposes only; it should not be considered financial, tax or legal advice. You can consult a financial professional before making any significant financial decisions.