Robert Kiyosaki, Author of Rich Dad Poor Dad, Is Back in the Spotlight with His Views on Bitcoin

Robert Kiyosaki, bestselling author of Rich Dad Poor Dad, is back in the spotlight with his views on Bitcoin

The bestselling author of Rich Dad Poor Dad, Robert Kiyosaki, recently took to social media to share his thoughts on the two "most important" money laws that most poor people allegedly break.

Breaking The Law

According to Kiyosaki, most people are poor because they break the two most important laws of money.

The first law is an economic principle known as Gresham’s Law, which states that "when bad money enters a system...good money goes into hiding." In essence, Kiyosaki explains that when the government prints excessive amounts of fiat currency, it becomes devalued, leading to a decrease in the purchasing power of individuals.

The second law, which Kiyosaki claims is more important than the first, is a statement he made in his book Rich Dad Poor Dad, where he says, “Savers are losers.”

According to Kiyosaki, people who save their money in traditional bank accounts are actually losing money over time due to inflation and the constant creation of new units of currency. He further adds that in 2025, most poor people will be those who break these two laws.

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Kiyosaki’s Criticism of Fiat Money and Crisis Prediction

The renowned author is a vocal critic of the fiat money system, which he describes as “fake money” that keeps getting smaller and smaller. He attributes the current economic instability to the United States’ decision to abandon the gold standard in 1971. This move, according to Kiyosaki, paved the way for inflation and currency devaluation.

In his view, previous financial crises, such as the LTCM bailout in 1998 and the Wall Street crisis in 2008, were just symptoms of a deeper problem. He questioned who would bail out the central bank in the next crisis, considering that student debt in the U.S. has reached $1.6 trillion.

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Kiyosaki’s Take on Bitcoin as a Hedge Asset

Kiyosaki views Bitcoin as an asset that can be used to hedge against inflation and volatile monetary policies. He explains that Bitcoin has a limited supply of 21 million coins, which makes it resistant to devaluation.

In addition, Kiyosaki highlights the strength of Bitcoin’s robust network as the main reason for his confidence in the cryptocurrency. However, he warns that many other cryptocurrencies do not have such strong network support, making them high-risk investments. Therefore, he suggests focusing on assets that have real value and solid network support.

Price Predictions and Institutional Support

Kiyosaki predicts that the price of Bitcoin could reach $500,000 in the next few years due to high inflation and global economic uncertainty. He notes that large institutional investors, such as MicroStrategy’s Michael Saylor, have been increasing their investments in Bitcoin, showcasing the growing confidence in the asset.

According to Kiyosaki, Bitcoin’s integration by large institutions signals a paradigm shift in the way digital assets are viewed, rendering them legitimate hedges against economic uncertainty.

Conclusion

Robert Kiyosaki’s remarks highlight his concerns about the stability of the traditional financial system and his confidence in Bitcoin as a safer and more valuable alternative.

While his views are often bold and unconventional, they spark discussion about the changes in the global economic landscape and the role of cryptocurrencies in the future of finance.