Robert Kiyosaki, the famous author of the best-selling finance book Rich Dad Poor Dad, has ripped into an anonymous gold bug for criticizing Microstrategy’s Bitcoin plan. The author described the anonymous individual as a loudmouth, labeling them a hypocrite for attacking Microstrategy CEO Michael Saylor.
Kiyosaki took to his X handle to call out the unknown individual, backing Saylor for leveraging the company’s treasury to purchase Bitcoin. He also noted that the individual mentioned that Saylor could have bought gold with the billions he spent on Bitcoin instead of buying the asset.
Robert Kiyosaki slams anonymous gold and defends Saylor
In his post, he called Saylor a genius, revealing that he copied the CEO’s investment ideas. Kiyosaki said that he has no regret purchasing Bitcoin, saying his investment in the asset increased the wealth of him and his employees. “I think Michael Saylor is a genius. I am following Saylor’s tactical Bitcoin investment plan…. obviously not to Saylor’s dollar size….yet making myself and my company’s employees richer and Jobs much more secure….especially in these treacherous financial times,” he said.
https://twitter.com/theRealKiyosaki/status/1860158537936113938?t=YOhVvUQms-rG2-RezoNM7Q&s=19
Kiyosaki opined that he has no bad feelings toward gold and silver, even saying he still invests in them. However, he feels the real problem is the ‘fake dollars’ printed by the Federal Reserve. “I still invest in gold and silver because the real problem is our fake dollars, printed by a corrupt Central Bank…known as “The Fed” and a Treasury Department filled with bureaucrats, of which 4 out of 5 are lying academic liberals, like Democrats, Kamala Harris and Tampon Tim,” he added.
Kiyosaki, who had previously warned of an impending economic doom, has always argued in favor of Bitcoin and the precious metals. He urged traders not to argue about what to save as they can save Bitcoin, gold, and silver at the same time. He said the anonymous gold bug should continue being a detractor while Donald Trump, who he refers to as the first Bitcoin president, makes America rich again.
Microstrategy’s Bitcoin investment faces criticism
Microstrategy has been an ardent supporter of Bitcoin since 2020, with its CEO buying millions worth of the asset at intervals. Although there are various entities, like Robert Kiyosaki, that have jumped in his defense, he still faces criticism from a section of the financial market.
While Kiyosaki refused to reveal the identity of the anonymous gold bug, economist Peter Schiff has been loud in his criticism of Saylor’s investment strategy. According to Schiff, Saylor is using investors’ funds in a risky gamble. In this regard, he noted that a recession could force the firm to sell its accumulated Bitcoins.
https://twitter.com/PeterSchiff/status/1859721865939517448?t=HSmaectU4H8SwDljojckJA&s=19
With Bitcoin already inches away from $100,000, Schiff criticized Saylor’s MicroStrategy for issuing $3 billion worth of convertible debt to purchase more Bitcoin. He called the investment a Ponzi scheme, saying that if Microstrategy can’t sell more shares, it would dump on the market. “Their only hope is U.S. taxpayers involuntarily becoming the greatest fools,” he added.
Regardless, Microstrategy’s stock has been performing well, ranking at the top for 2024. The company’s performance has mirrored that of Bitcoin, with investors calling on other firms to replicate Microstrategy’s investment plan. The company’s stock is trading at $425, gaining about 6% in the last 24 hours.
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