Rich Dad, Poor Dad Author Takes Stance on Bitcoin
One of the most well-known personal finance books, Rich Dad, Poor Dad is coming back to the limelight and not for the book’s content, but due to the author’s most recent statement. Author Robert Kiyosaki discussed his own point of view on bitcoin and the words are certainly a form of positive reassurance for the crypto community.
Kiyosaki, who discusses and promotes financial literacy in his book, recently mentioned his concerns about the United States economy, which hasn’t been backed by gold since President Nixon removed it from the gold standard in the 1970s.
The author stated:
“I’ve always been a gold bug. My latest book coming out is called Fake. There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money.”
He added that the government’s printing of more money is causing inflation to balloon and will ultimately cause a bubble leading to a economic downturn. As he states:
“Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all.”
Concerning crypto specifically, Kiyosaki stated that cryptocurrency is “people’s money.” Although eh did not discuss details about his reasoning, he believes that cryptocurrencies, gold, and silver will ultimately replace fiat currencies. He mentioned:
“I think the dollar is toast because Gold and Silver and cyber currency are going to take it out . . . the US dollar is a scam. . . . I think we’re watching the end of the dollar. That’s what I’m saying.”