Robert Kiyosaki, the well-known investor and author of the book “Rich Dad Poor Dad,” expanded his cryptocurrency portfolio by purchasing Ethereum (ETH) while maintaining his interest in Bitcoin. This move also reveals Kiyosaki’s concerns about the depreciation of the US dollar and the need for alternative investments.
Cryptocurrency statement from the famous author
Robert Kiyosaki, the famous author of “Rich Dad Poor Dad” and financial education advocate, surprised many by admitting that he had purchased Ethereum (ETH), the second largest cryptocurrency, along with existing gold, silver, and some Bitcoin. This statement came on a recent episode of the “Rich Dad Channel” podcast, where Kiyosaki discussed his concerns about the falling value of the U.S. dollar and the importance of alternative investments. While Kiyosaki acknowledged his limited understanding of Bitcoin, he emphasized the vital role of protecting wealth against a weakening dollar fueled by rising national debt. He sees gold, silver and cryptocurrencies as protection against this inflation and says:
We buy gold, silver and Bitcoin for the same reason; There is no difference… our money is fake.
Kiyosaki also criticizes the education system and blames a lack of financial literacy for the growing wealth gap in America. He suggests that this lack of knowledge contributes to resentment towards successful individuals. One of the key takeaways from the podcast involves the concept of “counterparty risk.” Kiyosaki highlights the advantage of holding assets such as gold, silver and crypto compared to traditional debt instruments. He argues that unlike borrowing in fiat currencies, where counterparty risk exists, there is “no guy to pay you back” with these assets.
Kiyosaki bought BTC for 6 thousand dollars
Interestingly, Kiyosaki admits that he was a relative latecomer to the Bitcoin party, only entering the market when the price was around $6,000 (compared to its current value of roughly $60,000). He emphasizes that this experience is a valuable lesson about the importance of being informed and taking action.
Following his previous warnings of an impending financial crisis, Kiyosaki reiterated his advice for navigating these uncertain times. These include patience, continuous learning, building a network of like-minded individuals, starting a side hustle, seeking out better financial mentors, and prioritizing the accumulation of assets like gold, silver, and crypto over cash.
There are high predictions for BTC
It’s important to note that Kiyosaki echoed ARK Invest CEO Cathie Wood’s prediction about Bitcoin’s potential to reach a staggering $2.3 million. However, with Bitcoin currently trading around $61,253, doing thorough research and staying up to date on market trends is vital for any investor considering entering the cryptocurrency space. cryptokoin.com As we reported, Kiyosaki had given clues about the 2008 crisis in his previous statements. For this reason, he is seen as a “crisis prophet” among some.
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