Robert Kiyosaki, author of Rich Dad Poor Dad, has once again publicly endorsed Bitcoin as a promising investment. In a post on X published earlier today, Kiyosaki described fiat currencies as “fake” and touted Bitcoin as a means of preserving wealth in times of uncertainty.
He noted that he loves Bitcoin because, in his view, when he saves in fiat money, he becomes poorer, but when he saves in Bitcoin, he becomes richer. “That’s why I love Bitcoin,” he stated. Notably, Kiyosaki expressed this sentiment as Bitcoin approached the $73,000 mark on Tuesday, boosting returns for all Bitcoin holders.
Kiyosaki Concerns About US Debt and Economic Stability
A few months ago, Kiyosaki sounded the alarm on the US national debt, which he claimed was growing by $1 trillion every 90 days. He believed this trend created a fragile economic outlook and urged investors to consider assets like Bitcoin, gold, and silver as a hedge against financial instability.
Kiyosaki has long been skeptical of fiat currencies, viewing them as a “giant Ponzi scheme” supported only by faith in what he describes as a poorly managed financial and political system. He argues that fiat currencies are vulnerable to debt, which he believes could erode the dollar’s purchasing power over time.
Kiyosaki Sees Bitcoin as a Hedge Against Inflation
Kiyosaki has endorsed Bitcoin, emphasizing its fixed supply as the main reason it is a hedge against inflation. His focus on Bitcoin is consistent with his view that traditional financial systems expose savers to the risk of devaluation. He sees Bitcoin's decentralized nature as an asset that operates outside of government control.
In a March 26 post, Kiyosaki explained that his belief in Bitcoin's resilience also stems from Metcalfe's Law, which states that the value of a network increases as more people join it. He likened Bitcoin's growing network to the stability provided by the U.S. dollar, which depends on widespread adoption.
However, he acknowledged the risks, saying that while some may consider Bitcoin a “Ponzi scheme,” he believes it is no riskier than fiat currency.
On a lighter note, Kiyosaki's April 2 post cited economist Harry Dent's prediction of a major recession, suggesting that Bitcoin could fall to $200 per coin. If Bitcoin reaches such a low price, Kiyosaki expressed interest in increasing his holdings, viewing it as a potential buying opportunity.