Source: a video screenshot, Youtube/The Rich Dad Channel
Renowned author and financial educator Robert Kiyosaki believes Bitcoin (BTC) is the “best protection” against hyperinflation because it is people’s money.
The investor, best known for his book ‘Rich Dad Poor Dad,’ has been issuing continuous warnings about an impending financial collapse, particularly in the United States.
In a recent post on X (formerly Twitter), Kiyosaki drew a historical comparison and urged his followers to consider Bitcoin as a means of protection against hyperinflation.
Highlighting the events in Germany a century ago, where hyperinflation contributed to Adolf Hitler’s rise to power, Kiyosaki expressed concerns that the US might be on the verge of experiencing a similar situation.
He described the government as the “most incompetent ever” and advised his readers to study hyperinflation in Germany and Zimbabwe, while also praising Bitcoin as the “best defense” due to its decentralized nature.
“Food will always be valuable as will guns, gold, and silver. Yet I believe Bitcoin is your best protection because Bitcoin is People’s money which means people control the value of Bitcoin not our leaders.”
Just in Germany to celebrate 100 years since 1923, the hyperinflation that brought Adolf Hitler to power. Are we about to celebrate hyperinflation too? I hope not. Yet our government leaders are the most incompetent ever. Study Germany and Zimbabawe’s Hyperinflation and prepare.…
— Robert Kiyosaki (@theRealKiyosaki) November 19, 2023
Kiyosaki Says Hyperinflation Means a Decline in Purchasing Power
Kiyosaki’s recent remarks echo his earlier statements in October, where he emphasized that hyperinflation does not simply mean rising prices but rather a decline in the purchasing power of money.
At the time, he advised his followers to invest in gold, silver, and Bitcoin, positioning themselves as winners amidst the potential collapse of the “American Empire” as more countries rejected the US dollar as the global reserve currency.
As of now, Bitcoin is trading at around $37,200, up by around 1.6% over the past day.
The leading cryptocurrency has gained more than 24% over the past month, and is up more than 120% year-to-data (YTD).
Kiyosaki has long been an advocate of Bitcoin, preferring the leading cryptocurrency over other altcoins.
Earlier this year, he revealed that he is acquiring more BTC because it is classified as a commodity much like gold and silver while other altcoins are classified as securities “and SEC regulations will crush most of them.”
The best-seller author also continues to make wild predictions about the price of Bitcoin, forecasting in February that Bitcoin price will skyrocket to $500,000 by 2025.
On the other hand, he contends that fiat currencies, including the US dollar, are headed for depreciation due to extensive monetary injections into the economy, resulting in rampant inflation.
In Singapore at same time massive crypto conference is on. Very exciting. Crypto is the future. Fiat…a.k.a. FAKE money is toast.
— Robert Kiyosaki (@theRealKiyosaki) September 17, 2023
Kiyosaki’s Rich Dad Poor Dad is a 1997 book that advocates the importance of financial literacy, financial independence, and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence.
It has been on the New York Times Best Seller List for over six years.