Why Bitcoin Is Among the ‘Hottest Topics’ on Earth, According to ‘Rich Dad’ R. Kiyosaki
Robert Kiyosaki, a famous entrepreneur and author of the personal finance book “Rich Dad, Poor Dad,” has long advised investors to buy gold, silver and bitcoin.
He has previously explained that he is an investor and not a trader in bitcoin, thus he feels excited when the price of the most popular cryptocurrency falls.
The financial guru attributes the recent growth in precious metals and digital currencies like Bitcoin to consumers’ worsening financial conditions and has reiterated his endorsement of cryptocurrencies as a sensible alternative to the current currency system.
Kiyosaki recently claimed that crypto traders will make more when the US Federal Reserve reverses course and creates trillions of “fake” dollars.
Robert Kiyosaki. Image: Entrepreneur's Handbook
And in the wake of the collapse of the cryptocurrency exchange FTX, he stated that he still has faith in digital currencies, noting that this type of asset cannot be held responsible for the failure of FTX.
When FTX filed for bankruptcy on November 11, cryptocurrency prices received a huge negative reaction. Since then, market observers have predicted a long-lasting implication for the crypto community.
Bitcoin among the ‘hottest topics’ on the planet
During yesterday’s episode of The Rich Dad Radio Show, the acclaimed author stated that crypto, along with gold and silver, is one of the three “hottest topics on Earth” due to the declining value of the US dollar.
“Today we’re going to talk about the hottest topic on the planet today, and it’s not real estate,” he said.
“The thing here is that this is gold. And this is silver. And of course there is Bitcoin. The reason they are the hottest subjects on earth right now is because our money is fake,” he explained.
In a tweet published on Tuesday, Kiyosaki claimed that the impact on the economic condition of the United States has hurt the poor, while the middle class has become poorer.
In addition, he claimed that this could be the reason for the growing demand for alternative investment products such as Bitcoin.
Kiyosaki: Investors must choose BTC
In the face of rising inflation and interest rates, Kiyosaki has been at the forefront of advocating the idea that investors must choose Bitcoin and gold. The businessman believes that the assets provide an important safety net in the event of a financial disaster.
“I’ve been saying this for years, this is God’s money [silver]. This is fake money [US dollar bill]. I like Bitcoin. I call it the people’s money, he said on his radio show.
Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com
Last September, the bitcoin proponent urged investors to invest in cryptocurrencies before the worst of the market collapse takes place.
Two months later, he warned that Bitcoin could go as low as $10,000 before reversing, although it never fell past $15,000 before making a significant rally.
At the time of writing, Bitcoin is selling for $23,558, an increase of almost 44% since the beginning of the year.
The US Securities and Exchange Commission has classified bitcoin as a commodity, while the majority of other crypto-tokens are securities, and Kiyosaki warned that “the SEC restrictions would crush most of them.”
Featured image by ThoughtCo
