The author of the popular book “Rich Dad Poor Dad,” Robert Kiyosaki, recently stated that he believes the U.S. dollar is failing, and as such, people should buy Bitcoin and other assets like gold and silver.
Dollar is Failing
Robert Kiyosaki, popularly known for his book, Rich Dad Poor Dad, recently discussed the death of the U.S. dollar (USD) after the government shared free money with the people. According to Kiyosaki, this is an excellent time to buy assets like gold, silver, Bitcoin or other cryptocurrencies.
He made his views known on his Twitter account, which has over 1.3 million followers. He tweeted, “DEATH OF DOLLAR. People desperate for money. Very sad. If the government gives you free money, take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money.”
Kiyosaki went on to advise his followers regarding their investment. According to the financial expert, investing in the long-term in the stock market is a wrong move due to the recent policies by the Federal Reserve and the U.S. government. He stated that people are crazy if they plan to invest in the stock market for the long-term. He went on to say that those people who do invest in the stock market during 2020, will come out as big losers. He went on to confirm that he believes the US dollar is dying and that 401k investors who do invest long-term are simply handcuffing themselves to the Titanic. According to Kiyosaki, the right move is investing in cryptocurrencies or commodities like gold or silver
Instead of investing in the stock market, Kiyosaki believes it is best to invest long-term in asset classes such as cryptocurrencies, gold, silver, and other precious metals. According to Kiyosaki, these asset classes provide long-term returns to investors unlike the stock market that gives the rich enough time to sell their shares without losing,
Kiyosaki is a Supporter of Bitcoin
Robert Kiyosaki is the author of the popular book Rich Dad Poor Dad. The book, which was published in 1997, and has sold over 32 million copies in over 51 languages across 109 countries globally. It is also a unique book that has been on the New York Times Best Seller List for over six years. The popularity of the book, Rich Dad Poor Dad, stems from its vast teaching on the importance of financial literacy, financial independence, and generating wealth through numerous means such as owning your business and investing in real estate.
This isn’t the first time Kiyosaki spoke positive things and advocated for Bitcoin and other cryptocurrencies. In 2018, he mentioned that the U.S. Dollar is a scam, adding that the currency is toast because gold, silver, and cryptocurrencies are going to eliminate it from the market. He stated that the US dollar is gone. For many years, the major currency in the world has been the US dollar as it is regarded as the reserve currency of the world. However, Kiyosaki strongly believes that the entry of Bitcoin and other cryptocurrencies has changed the situation.
Kiyosaki’s latest comments were based on the U.S. government’s Paycheck Protection Program (PPP) to cushion the effects of the Coronavirus outbreak to businesses in the country. The Donald Trump administration is working on releasing $350 billion to small businesses affected by the COVID-19 pandemic. However, Kiyosaki believes that the free money comes with a cost to the economy of the country and ultimately, the value of the U.S. dollar.