- Kiyosaki, a Bitcoin evangelist and financial genius, emphasizes the necessity of Bitcoin as traditional assets lose value rapidly.
Robert Kiyosaki, a prominent educational entrepreneur and financial guru best known as the author of the book “Rich Dad, Poor Dad,” has taken to the social media site X to provide “Lesson #1” about why some people stay poor and others become rich.
He backed the world’s flagship cryptocurrency Bitcoin, adding that it remains robust when compared to traditional non-safe-haven investments.
Bitcoin, Gold, and Silver vs. Traditional Assets
Kiyosaki opposes the old way of generating money through regular work in his X post, arguing that the earnings are “designed to be stolen from our fake money via taxes and inflation.”
Kiyosaki, in his book “Rich Dad, Poor Dad,” discusses “rental properties, oil, and food production” as means to earn healthy and tax-free profits rather than working normal jobs and receiving “taxable fake USD income” and needing to preserve “fake USD.” Kiyosaki has been criticizing the US dollar as a forgery in recent years, claiming that the US government has been producing trillions of dollars since 2020.
The expert then claims that these “fake USD” are invested in “stocks, bonds, mutual funds, and ETFs, which are currently crashing.” He refers to Bitcoin, as well as gold and silver (“G, S, BC”), as “real assets” worth storing rather than US currency.
RICH DAD’s Lesson #1 “The rich don’t work for $.” WHY? Because our Wealth is designed to be stolen from our fake money via taxes and inflation and the stock market. Instead the Rich work for assets that puts tax free money in their pocket…cash flow assets such as rental…
— Robert Kiyosaki (@theRealKiyosaki) November 2, 2023
He is certain that “G, S, BC, assets that provide lifelong financial security & freedom”
Kiyosaki Believes that the Mounting National Debt in the United States is fuel for Bitcoin’s Growth
Earlier this year, Robert Kiyosaki identified three significant factors that he believes will drive the price of Bitcoin upward. The first was the March 2008 US banking crisis, which saw the failure of several significant banks, including Silvergate, Signature Bank, Silicon Valley Bank, and a few others.
The US government helped out these banks, and their customers’ funds were not lost. The closure of the first few banks did, in fact, cause the top cryptocurrency to increase.
The meeting of BRICS leaders in South Africa in August, and their likely decision to introduce a gold-backed cryptocurrency for internal trade settlements to lessen their reliance on the USD, was the next thing he predicted to push Bitcoin up. So yet, this has not occurred.
The third point identified by Kiyosaki was the rapid increase of the US national debt. This year, the US government approved the “removal of the debt ceiling” after the debt hit $31.4 trillion.
It was recently announced that the United States borrowed $1 trillion in the fourth quarter, rapidly increasing the national debt. They want to borrow another $1.5 trillion in the current and following quarters.
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