In a bold declaration, Robert Kiyosaki, the author of the best-selling book Rich Dad Poor Dad, has once again targeted the U.S. dollar, branding it as ‘fake money.’ This statement comes amid rising inflation concerns and monetary policies that Kiyosaki argues disproportionately affect the poor and middle class. He is advocating for investment in tangible assets like Bitcoin, Ethereum, gold, and silver rather than relying on fiat currencies.
Kiyosaki’s Take on Fiat Currency
In a recent post on X (formerly Twitter), Kiyosaki criticized the flaws within the global financial system, highlighting government-issued currency as ‘fake money’ and warning about its diminishing value due to inflation.
He pointed out that while the prices of assets such as Bitcoin and Ethereum are on the rise, the cost of living continues to escalate. This duality, according to Kiyosaki, complicates financial management for lower-income groups while allowing wealthier individuals to benefit from asset inflation.
Kiyosaki lamented, ‘The RICH get RICHER… My concern is the price of life… inflation… makes life harder on the poor and middle class.’ He cautioned investors against relying on fiat savings and urged them to safeguard their wealth through both physical and digital assets.
Bitcoin and Ethereum: A Shield Against Inflation
Kiyosaki has positioned Bitcoin and Ethereum alongside gold and silver as ‘real money.’ He encouraged individuals to shift their attention from traditional currencies to these alternatives, which he believes provide better protection against inflation.
He characterized the current monetary system as ‘broken and corrupt,’ claiming it primarily serves the interests of the wealthy. In his view, holding fiat money places individuals at a higher financial risk, especially during economic downturns.
This isn’t the first instance of Kiyosaki voicing these concerns. Previously, he has referenced turmoil in the global bond market as a sign of deeper economic issues, suggesting that such instability should prompt individuals to diversify their portfolios into cryptocurrencies.
Advice to Investors: Move from Cash to Crypto
Kiyosaki has been vocal about the necessity for individuals to decrease their reliance on government-issued currency. He posits that fiat currencies are losing value and warns that if his prediction of a financial crash in 2025 comes to fruition, those who remain tethered to fiat could face severe consequences.
‘Don’t be a victim of a broken and corrupt monetary system,’ Kiyosaki implored. He believes that saving in fiat is increasingly unsafe and that individuals should explore options for storing value in assets that escape the control of central banks.
While his recommendations include both Bitcoin and Ethereum, Kiyosaki has also pointed to gold and silver, noting, however, that physical assets can be more easily confiscated. He emphasized that Bitcoin, in particular, cannot be seized easily, which makes it a more secure option for wealth preservation.
Support from the Crypto Community
Max Keiser, a prominent Bitcoin advocate, has echoed Kiyosaki’s sentiments. He referenced a 2021 post by Jack Dorsey, former CEO of Twitter, who warned that hyperinflation could drastically reshape the global economy.
Keiser argued that the recent performance of both gold and Bitcoin serves as evidence that investors are increasingly shifting away from fiat. He encouraged individuals to focus on preserving their wealth in Bitcoin rather than debating the merits of crypto versus precious metals.
In recent times, Bitcoin’s price surged above $126,000 before experiencing a market correction. Despite this pullback, both gold and cryptocurrencies have maintained their status as reliable stores of value amidst ongoing economic uncertainty.
