‘Rich Dad Poor Dad’ author Robert Kiyosaki recommends to prioritize Bitcoin investment

Robert Kiyosaki – Kiyosaki in 2023 – CC BY-SA

Robert Kiyosaki, the famous author of “Rich Dad Poor Dad,” has urged investors to prioritize increasing their Bitcoin holdings over acquiring conventional assets. In a social media post, he suggested shifting from traditional financial systems and embracing alternative options such as gold, silver and especially cryptocurrency, with a focus on Bitcoin.

“Great News Gold reaches new high. Bad News: Workers and savers are losers. Bad News: been saying the same for 25- years. Don’t be a loser. Get out of FAKE money system. Get into gold, silver, Bitcoin now…. Before it’s too late,” said Kiyosaki.

Kiyosaki’s recent statement echoes his past advice. He had previously expressed concern about the potential impact of inflationary policies, encouraging investors to consider BTC as a protective measure.

The bestselling author emphasized that inflation, which he linked to Marxist ideologies, causes price increases, whereas true capitalism aims to reduce prices.

He suggested that the current American leadership might incline toward Marxist principles, prompting people to consider safeguarding their wealth in gold, silver or Bitcoin rather than the rapidly declining dollar.

“TRUE CAPITALISTS bring prices down causing DEFLATION. MARXISTS raise prices causing INFLATION. Our leaders are Marxists which is why we have inflation. Protect yourself from our Marxist leaders. Save Gold, Silver, Bitcoin not dollars,” said Kiyosaki.

Kiyosaki also warned about the possibility of multiple regional banks and mortgage firms being close to failure. He predicted a potential real estate crash, which he suggested could be more severe than the 2008 housing crisis.

His solution to this crisis is for people to accumulate Bitcoin and precious metals.

Kiyosaki also foresees Bitcoin reaching a value exceeding six figures by 2024. He based this prediction on his belief that the U.S. dollar’s strength will diminish due to a new currency by the intergovernmental alliance BRICS.

Kiyosaki’s recent statement comes while Bitcoin maintains a positive price outlook. The cryptocurrency is currently trading at $37,453, as per data from CoinGecko. Over the past seven days, it has increased by 2.64 percent. It boasts a trading volume of $8.4 billion in the last 24 hours and has a market cap of $732.5 billion.

Cramer suggests investing in gold rather than Bitcoin

Jim Cramer, an American TV personality, author and host of CNBC’s Mad Money, advised crypto investors to choose gold over Bitcoin due to the latter’s high volatility.

Cramer believes that gold serves practical purposes beyond speculation, unlike BTC, which he sees as a riskier asset. He thinks gold’s real demand remains relatively stable even during stricter financial conditions.

Cramer says investors often use gold as protection during inflation and economic uncertainty. He finds cryptocurrency too volatile, making it unsuitable as a hedge against inflation. He observed that despite attempts to avoid counterparty risk, Bitcoin holders still face this issue, especially when using BTC for transactions.

In December 2022, he advised crypto investors to sell their holdings, predicting a significant drop in the industry, which he thought would happen in the current year. Similarly, in September, he called Bitcoin and other crypto tokens speculative assets and cautioned against investing in them.