Rich Dad Poor Dad author Robert Kiyosaki
The best-selling author of the personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki, has weighed in on the ongoing discussion in the financial community over the direction of money. His opinions come at a time when advocates of cryptocurrencies are of the opinion that digital assets are the ideal replacements for the drawbacks of conventional fiat currency.
Particularly, on September 17, Kiyosaki emphasized that cryptocurrencies represent the future of money while reiterating that traditional fiat currency has no future.
The businessman has previously expressed his doubts about conventional fiat currencies, especially the US dollar, calling it “toast.” The value of cryptocurrencies, according to Kiyosaki, who has acknowledged holding some Bitcoin (BTC), is at risk from inflation and governmental monetary policies.
According to Finbold, Kiyosaki thinks that the first cryptocurrency is here to stay since it can rebound after experiencing downturns.
The potential of Bitcoin
It’s interesting to note that the investor views fiat money as “criminal money.” In addition to highlighting the value of Bitcoin as a safeguard against fiat money in this line, Kiyosaki also forecasted that its price may rise to $120,000 in the coming year. In fact, Bitcoin is aiming for a new record high, with next year’s halving event being predicted to be a major driver.
He thinks that because so much money is being pumped into the economy, which is fueling rabid inflation, the US dollar will decline dramatically. As a result, Kiyosaki has mostly advocated investing in commodities like gold, silver, and bitcoin in order to protect against the depreciation of fiat money.
The financial educator has also given a warning about inflation and its possible effects, stating that it may result in the middle class in the United States disappearing. He links part of this risk to President Joe Biden’s initiatives in the area of green energy.
In this line, Kiyosaki has criticized the Federal Reserve for its ongoing money-creation methods and consistently emphasized his mistrust of the US government.
According to him, the US economy is on the verge of a serious disaster, and in these unsettling times, cryptocurrencies, particularly Bitcoin, provide investors a safe haven.