‘Rich Dad Poor Dad’ Author Explains Why He Owns Bitcoin

Robert Kiyosaki, renowned for his book “Rich Dad Poor Dad,” is gaining attention for his strong endorsement of Bitcoin (BTC).

The author positions Bitcoin as a key defense against what he perceives as systematic wealth erosion orchestrated by institutions such as the Federal Reserve, Treasury, and Wall Street bankers.

Why Kiyosaki Owns Bitcoin

In his recent post on X, Kiyosaki emphasized his investment strategy, favoring Bitcoin over traditional assets like stocks, bonds, and fiat currencies. According to him, this preference is driven by Bitcoin’s decentralized nature and resistance to inflation.

Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, stock price manipulation. That is why I save…

— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024

He commended Bitcoin’s role as a more secure asset. He strongly criticized figures such as Federal Reserve Chairman Jerome Powell for their involvement in diminishing wealth through practices like inflation, taxation, and stock price manipulation. Kiyosaki contends that Bitcoin provides a countermeasure to these wealth-diminishing practices.

He highlighted his departure from conventional investment approaches and his choice of Bitcoin over other investment forms. He briefly outlined his strategy, stating a preference to “save and invest in Bitcoin, not stocks, bonds, and fake dollars.”

While Kiyosaki initially had reservations about Bitcoin’s intrinsic value, he now regards it on par with gold and silver, considering it a crucial financial tool . He believes in Bitcoin’s long-term potential, not solely as a speculative asset but as a genuine store of value.

Kiyosaki is optimistic about Bitcoin’s future, forecasting its price to reach $120,000 within the year and expecting an impressive half a million dollars per BTC by 2025. He speculates that Bitcoin could reach $1 million in a global economic downturn.

Advocating for Alternative Investments Over Fiat

In a recent episode on ‘The Rich Dad Channel,’ streamed on January 24, Robert Kiyosaki engaged in discussions about Bitcoin and silver with Andy Schectman, CEO of Miles Franklin Precious Metals Investments, and Charles Goyette, author and radio talk-show host.

Despite admitting his limited knowledge about Bitcoin, Kiyosaki expressed trust in the digital currency, highlighting the involvement of “very smart people” who have supported it.

In November, amid the increasing prices of precious metals, Kiyosaki advised his 2.4 million followers on social media to transition from fiat currencies, which he labeled part of a “fake money system,” to alternative assets like gold, silver, and Bitcoin. He characterized the average saver as a “loser” in the current economic climate, advocating for investments in these alternative assets.

Furthermore, Kiyosaki criticized government policies, attributing rising inflation and subsequent challenges to the actions of the “woke government.” He expressed his ongoing commitment to converting his fiat assets into Bitcoin and precious metals, arguing that government actions ultimately lead to war and poverty.