According to U.Today, Robert Kiyosaki, a well-known investor, entrepreneur, and author of the finance book 'Rich Dad Poor Dad,' recently engaged his followers on the X platform (formerly known as Twitter) in a discussion about money and Bitcoin.

Kiyosaki began by reflecting on his childhood experience of making his own coins by melting down empty toothpaste tubes, which were made of lead at the time. This early experience taught him about counterfeiting. He then connected this to a significant historical event in 1971 when U.S. President Nixon removed the gold standard backing the U.S. dollar. Kiyosaki emphasized that this move led to what he describes as the Federal Reserve and the U.S. Treasury 'counterfeiting money.'

The financial expert expressed his regret that schools do not teach children about money or taxes, leading to a situation where '90% of the people today work for and save counterfeit...a.k.a. Fiat...a.k.a. FAKE money.' He urged people to start saving Bitcoin, silver, and gold as a hedge against what he sees as the devaluation of fiat currency.

Earlier this year, Kiyosaki tweeted his expectation that Bitcoin could reach $350,000 by August. He clarified that this is more of a wish than a prediction but reiterated his reasons for believing in a significant price surge. These reasons include the U.S. dollar not being backed by anything and the Federal Reserve, along with the U.S. Treasury, printing trillions of dollars. He also pointed out the growing national debt as a contributing factor.

As August approaches, Bitcoin has shown some positive movement, adding approximately 3.3% in the past 24 hours and nearly reclaiming the $70,000 level. This marks an 8.91% increase since last Thursday when Bitcoin rose from $64,000. At the time of writing, Bitcoin is trading at $69,410.