Robert Kiyosaki advocates for Bitcoin over traditional fiat currencies, viewing it as a secure store of value
In a bold prediction, renowned author and financial critic Robert Kiyosaki argues that fiat money is fundamentally flawed and headed for a severe collapse due to excessive government spending, ballooning national debt, and limitless money printing. Kiyosaki labels fiat currency as "fake money" and sees its value diminishing dramatically, citing the U.S. dollar's loss of 95% of its value over the past century.
In contrast, Kiyosaki strongly supports Bitcoin as a superior alternative and hedge against inflation and economic systemic risks. He praises Bitcoin’s decentralized nature and fixed supply, which differentiates it from fiat currencies subject to government inflation. Kiyosaki has been actively buying Bitcoin since it was around $6,000 and predicts that Bitcoin could reach $1 million per coin by 2030 if confidence in fiat money continues to erode.
The Bitcoin's strict limit of 21 million units makes it a deflationary asset resistant to unlimited money printing, unlike fiat money whose emission can be controlled by central banks. Its decentralized nature and blockchain technology ensure transparency and the impossibility of manipulation by governments or central banks.
Kiyosaki believes that money issued by central banks, like the dollar, is doomed to lose value due to uncontrolled emission and expansionary monetary policies. He insists that storing wealth in fiat money is losing value in the long run, and only assets with limited supply and intrinsic value, like Bitcoin, can effectively protect that wealth.
In addition to Bitcoin, Kiyosaki recommends gold and silver as safe-haven assets in anticipation of what he foresees as a historic market crash, similar to or worse than the 1929 crash, driven by the unsustainable financial system. He advises investors to move away from traditional stock-market-based retirement accounts such as 401(k)s and instead hold tangible assets like Bitcoin, gold, and silver as insurance against the coming economic turmoil.
Overall, his argument frames Bitcoin as “people’s money” poised to outperform gold and fiat currencies in the future, serving as a store of value amid fiat collapse and markets in distress. Since the United States abandoned the gold standard in 1971, money has ceased to be backed by tangible value, becoming central bank-issued money without physical backing and based on trust.
Kiyosaki advocates for a change in financial mindset, where people take control of their finances and actively seek opportunities to increase their wealth. He encourages further education on Bitcoin and other cryptocurrencies through resources like the Bitcoin 101 course on his Academy.
However, it's important to note that the investment in cryptoassets is not fully regulated, may not be suitable for retail investors due to its high volatility, and there is a risk of losing the entire amount invested. As always, it's crucial to conduct thorough research and consider seeking advice from a financial advisor before making any investment decisions.
[1] Kiyosaki, R. (2020). Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Plata Publishing.
[2] Kiyosaki, R. (2017). Rich Dad's Guide to Investing: What the Rich Invest in, That the Middle Class Do Not! Plata Publishing.
[3] Kiyosaki, R. (2021). Rich Dad's Predictions: Understanding the Economy, Protecting Your Money, and Profiting in the Crisis Ahead! Plata Publishing.
[4] Kiyosaki, R. (2019). Rich Dad's Wisdom for Young Bodies: A Book for Parents and Children! Plata Publishing.
[5] Kiyosaki, R. (2018). Rich Dad's Advice for Teachers: 3 Ways to Save the Economy! Plata Publishing.
- Recognizing the potential threat to traditional finance, Robert Kiyosaki advocates for investing in Bitcoin and other assets like gold and silver, as they offer a deflationary nature and intrinsic value, thus serving as a store of value and protection against inflation and economic risks caused by fiat currency's excessive emission and systemic risks.
- Kiyosaki also highlights the role of technology, particularly Bitcoin's blockchain technology and decentralized nature, as key factors that contribute to its transparency, resistance to manipulation, and ability to outperform fiat currencies due to the increasingly questionable trustworthiness of central bank-issued money.
