Robert Kiyosaki, author of “Rich Dad, Poor Dad” says Bitcoin holders will become richer than “fake money savers” when the Federal Reserve prints “trillions of fake dollars”. As of December 2022, Robert Kiyosaki’s net worth is roughly $100 million. He encourages his Twitter followers to buy gold, silver, and Bitcoin instead of pension funds.
Robert Kiyosaki tweeted last Friday and said:
PENSIONS next global LEHMANN. What are you going to do? Will you get richer or poorer? People who own gold, silver, Bitcoin will get richer when Fed, Treasury, Wall Street pivot & print trillions of fake dollars. Fake money savers will be biggest losers. Don’t be a loser.
Everyone was told to save money and put it in a bank or pension funds. However, money devalues when central banks continue to print money, which they have been doing for a long time.
In November, Federal Reserve Chair Jerome Powell mentioned that the central bank is likely to slow down the interest rate hike in December, but will still raise the rates. This is because the CPI inflation rates fell faster than we expected in November. Along with that, Bitcoin price today reached a high of $18,000 at the time of writing, the highest price in two weeks after the FTX collapse.
Many Bitcoin investors worry about the price fluctuation of crypto, but Kiyosaki is not one of them. Robert Kiyosaki tweeted on November 11 and said that he is a long-term investor of Bitcoin rather than a trader. He also mentioned that he will get excited instead of worried when BTC price hits lower to $10k. It is essentially a bet against the Fed, Treasury, and Biden.
Closing Thoughts
In my opinion, our current financial system has flaws that will not allow us to maintain the value of fiat money over time. Including Bitcoin or other crypto, and scarce medals in your investment portfolio may not be a bad choice to diversify the market risks.
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