BlocksInform
Robert Kiyosaki, a well-known businessman and author of the personal finance book "Rich Dad, Poor Dad," has long advised investors to buy gold, money and bitcoins.
He has already explained that he is an investor and not a merchant in Bitcoin, so he feels happy when the price of the most popular cryptocurrency goes down.
Financial guru blames recent growth in precious metals and digital currencies such as bitcoin to the worsening financial conditions of consumers and reiterated its support for cryptocurrencies as This makes sense as an alternative to the current monetary system.
Kiyosaki recently claimed that crypto traders will profit more when the US Federal Reserve switches course and creates trillions of “fake” dollars.
Robert Kiyosaki. Image: Guide for the entrepreneur.
And, in the aftermath of the FTX cryptocurrency swap crash, he said he still believes in digital money, Noting that such an asset cannot be held liable for FTX's failure.
When FTX filed for bankruptcy on November 11, prices of cryptocurrencies saw a huge adverse reaction. Since that time, market watchers have anticipated long-term implications for the crypto community.
Bitcoin Among ‘Hottest Topics’ On The Planet
During yesterday’s episode of The Rich Dad Radio Show, the renowned author stated that the crypto, along with gold and silver, is one of the three “hottest topics on earth” because of the declining value of the US dollar.
"Today we're going to discuss the hottest topic on the planet today, and it's not real estate," he said.
"The only thing here is gold. That's a lot of money. And then, of course, Bitcoin. The reason these are the hottest topics in the world at the moment is because our money is fake," he said.
In a tweet published Tuesday, kiyosaki argued that the impact on the United States' economic situation has hurt the poor, while the middle class has been impoverished.
Moreover, he claimed that this may be the reason for the growing demand for alternative investment products like Bitcoin.
Kiyosaki: They have to choose BTC.
Faced with rising inflation and interest rates, Kiyosaki has been on the cutting edge of defending the notion that investors must choose Bitcoin and gold. The business person considers these assets to be a life-saving safety net in the event of a financial disaster.
I have been saying for many years that it is God's money. It's counterfeit currency [USD note]. I'm a bitcoin person. I call it the money of the people," he said in his radio broadcast.
Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.comIn September of last year, the Bitcoin developer urged investors to invest in cryptocurrencies before the worst market crash occurred.
Two months later, he warned Bitcoin can go as low as $10,000 before bouncing back, but he never dropped past $15,000 before making a significant rise.
At the time of writing, Bitcoin is selling for $23,558, an increase of almost 44% from the beginning of the year.
Bitcoin was classified as a commodity by the US Securities and Exchange Commission, while most other crypto tokens are titles, and Kiyosaki cautioned that "SEC restrictions would overwhelm most of them."
TheoughtCo featured image.
