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Robert Kiyosaki, the author of Rich Dad Poor Dad and a prominent investor, asserts that the US dollar is depreciating and has voiced his endorsement for cryptocurrency investments.
In a recent episode of the podcast “The Rich Dad Channel,” Kiyosaki emphasized the significance of diversifying investment portfolios to include cryptocurrencies. In conversation with Andy Shechtman, CEO of Miles Franklin Precious Metals, Kiyosaki encouraged investors to consider gold, Bitcoin, and Ethereum.
He highlighted that the decline of the dollar is unavoidable, making it essential to accumulate alternative investments in preparation for challenging financial circumstances. “Our money is fake,” he remarked.
“This is a reason to invest in gold, silver, Bitcoin, and similar assets because our currency is currently flawed, and it is likely to worsen as our debt continues to rise.”
Kiyosaki disclosed that he purchased Ethereum “for the same reason.”
Additionally, he criticized the lack of financial literacy education in schools, especially given the already critical financial landscape. Kiyosaki also noted the absence of counterparty risk when borrowing money.
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“If I take out a loan, who is responsible for repaying me? With gold and silver – similar to Bitcoin – there is no counterparty risk.”
Kiyosaki’s Strongly Positive View on Bitcoin
The bestselling author described Bitcoin, the largest cryptocurrency, in March as “the ideal asset at the right moment.” Nevertheless, he is also taking a cautious stance towards this asset class, expressing concerns about its potential to be a scam or Ponzi scheme.
Kiyosaki has consistently held a positive outlook on Bitcoin over the years. In November 2023, the financial educator stated that Bitcoin serves as the “best safeguard” against hyperinflation, as it represents people’s money. He made a historical comparison and urged his audience to view Bitcoin as a protective measure against hyperinflation.
However, he expressed reservations about spot Bitcoin ETFs, arguing that these financial instruments are more suited for institutional investors. He prefers direct ownership of tangible assets, reflecting his entrepreneurial background.
Kiyosaki has invested in a variety of assets, including gold, silver, and Bitcoin, which he believes are currently undervalued.
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