Robert Kiyosaki, the financial guru behind the bestselling book “Rich Dad Poor Dad,” issued a new warning to his followers, urging them to prioritize leading cryptocurrency Bitcoin and other tangible assets in the face of rising inflation. Kiyosaki’s message comes on the heels of a recent statement by US Federal Reserve Chairman Jerome Powell acknowledging that inflation remains high and is unlikely to ease any time soon.
Kiyosaki announced that he has accumulated the leading cryptocurrency Bitcoin
Kiyosaki, known for his outspoken views on traditional finance, reviewed Powell’s statement on the social media platform. He argues that Powell’s admission effectively negates previous assurances about “temporary inflation,” a concept that Kiyosaki believes most people do not understand the true consequences of. Kiyosaki, in his characteristic style, suggests that Powell’s words essentially mean “we’re screwed.”
Kiyosaki emphasizes his long-held belief that “savers are losers” due to inflation. He points out that the US dollar has lost a staggering 95% of its purchasing power since the Fed’s founding in 1913. According to Kiyosaki, this stark reality underscores the importance of alternative assets that have the potential to hedge against inflation. Following Powell’s statement, Kiyosaki reiterated his strong advocacy for “real gold, silver and Bitcoin.” It positions these assets as a means of “saving real money.”
Kiyosaki’s predictions spark controversy
This isn’t the first time Kiyosaki has expressed bullish sentiment about Bitcoin. cryptokoin.com As we reported earlier in the week, his comments attracted attention. He specifically mentioned the predictions of financial analyst Harry Dent, who predicted a significant economic downturn. Specifically, Dent expects an 80% decline in the S&P 500 index. He also predicts that Bitcoin will drop dramatically, potentially falling as low as $200. Interestingly, Kiyosaki seems unimpressed by this possibility. He said a major price crash in Bitcoin would simply present a gold buying opportunity. He also stated that he had the intention to save more money if the price dropped significantly.
Kiyosaki’s stance sparked controversy in the financial community. Critics point to Bitcoin’s inherent volatility, questioning its reliability as a store of value. But Kiyosaki’s supporters see him as a forward-thinking investor who recognized Bitcoin’s potential early. They believe Kiyosaki’s latest message serves as an important reminder to prepare for potential economic turbulence by diversifying investments beyond traditional assets.
It’s worth noting that Kiyosaki has a history of making bold predictions. Although not always true, some believe it foreshadowed the 2008 financial crisis with its warnings about a housing market bubble. It is not yet known whether his current predictions about inflation and Bitcoin will come true. However, his unwavering belief in Bitcoin and the importance he gave to protecting himself against inflation attracted attention. In particular, it undoubtedly resonated with a significant part of the investment world.
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