Robert Kiyosaki Takes a Sledgehammer to Fiat Currency
Renowned author Robert Kiyosaki, known for 'Rich Dad Poor Dad,' has entered the financial debate on the future of money.
He joins those advocating cryptocurrencies as a solution to traditional fiat currency’s shortcomings.
In a recent X (formerly Twitter) post, Kiyosaki reiterated his belief in cryptocurrencies, stating that traditional fiat currency has no future. He has long been skeptical of fiat currencies, particularly the US dollar, referring to it as precarious. Kiyosaki owns a substantial amount of Bitcoin and sees cryptocurrencies as protection against inflation and government policies.
Kiyosaki trusts in Bitcoin’s resilience, citing its ability to rebound after dips. He owns 60 BTC and bought them at $6,000 each, acknowledging he’s not a crypto expert but a trader. This demonstrates his growing confidence in its sustainability.
Kiyosaki labels fiat currency as ‘criminal money’ and predicts Bitcoin’s price could reach $120,000 in the upcoming year. Bitcoin’s impending halving event is seen as a key catalyst for its growth.
He anticipates a significant depreciation of the US dollar due to substantial economic stimulus, causing inflation. Consequently, Kiyosaki advises investing in assets like gold, silver, and Bitcoin to hedge against fiat devaluation.
Furthermore, he warns about inflation’s potential to harm the American middle class, partly attributed to President Joe Biden’s green energy initiatives. Kiyosaki criticizes the US government and the Federal Reserve for continuous money printing, believing the US economy is on the brink of a crisis.
In uncertain times, he sees cryptocurrencies, especially Bitcoin, as a safe haven for investors.