Author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki has stated that the first cryptocurrency could turn out to be a fraud and crash to zero. According to him, Bitcoin is no more than a scam or a Ponzi scheme, just like the US dollar, euro, yen, or any other “fake” or fiat currency. He believes that the US is going bankrupt by printing $1 trillion every 90 days just to pay bills. The investor once again advised against hoarding “fake fiat dollars” and instead suggested buying gold, silver, or Bitcoin. He noted that he himself follows his own advice. Kiyosaki acknowledged that the price of Bitcoin could drop to zero, but this also threatens the US dollar, Australian dollar, British pound sterling, Japanese yen, and fiat currency of any country. History proves that thousands of “fake” currencies have already ended up in the fiat money graveyard, he added.
On March 25, Kiyosaki revealed his intention to acquire another 10 BTC by April – this month the first cryptocurrency network is expecting a halving. He also forecasted Bitcoin to rise to $100,000 by September 2024.
In January, amid the approval of spot Bitcoin ETFs in the US, Kiyosaki predicted a soon-to-come price increase to $150,000. The entrepreneur urged people to exchange “fake dollars” for gold, silver, and the first cryptocurrency.
Later, he explained that he sees Bitcoin as “protection against the theft of savings” by governments and bankers through inflation, taxes, and stock price manipulation. For this reason, he prefers to invest in digital gold and encourages others to do so.
In September 2022, Kiyosaki recommended buying Bitcoin and other cryptocurrencies ahead of the “largest economic crash in history.” In November, he reaffirmed his commitment to digital gold despite the FTX collapse.
In March 2023, the entrepreneur urged investing in Bitcoin and precious metals amid problems at regional American banks. He reiterated his recommendations in April and May.
In September, Kiyosaki stated that investing in Bitcoin is necessary before the launch of the digital dollar in the US. Prior to this, he criticized the idea of CBDC.