Robert Kiyosaki, the American businessman and author of the best-selling personal finance book series “Rich Dad Poor Dad,” says that bitcoin (BTC) is a path toward what he described as “financial heaven”.
Earlier this week, Robert Kiyosaki, the author of the best-selling personal finance book series “Rich Dad Poor Dad” spoke about the impact of cryptocurrencies as Bitcoin has for today’s generation when it comes to financial intelligence.
Kiyosaki, 74, placed gold and silver in this same heavenly realm, in a social media post earlier this week:
“There are a million ways to financial heaven and a billion ways to financial hell,” he said. Recount his 1.8 million Twitter followers.
Are Our Financial Institutions Destroying the U.S. Dollar?
Speaking to the Federal Reserve, Kiyosaki described the current nature of our financial system as “financial hell.”
He added that because of the US Central Bank, Federal Reserve and US Treasury Department “destroying the dollar”, they are sending “billions of savers and misinformed people to financial hell”.
While Kiyosaki did not explain how the dollar was destroyed, he did point to an instance that investors would be better suited towards – encouraging investors save bitcoin, along with gold and silver so they can “go to financial heaven.”
Both BTC and gold are seen as a hedge against currency inflation, which hit 7% in the US in December, the highest level in decades. The Federal Reserve is now preparing to raise interest rates to fight inflation and has signaled it could raise rates three times in 2022, possibly as early as March.
Is Bitcoin a Veritable Hedge Against Inflation?
It is against this background of diminishing purchasing power that Kiyosaki spoke. However, back in January, Kiyosaki shared that he plans to buy more BTC once the price drops back down to $20,000.
According to earlier tweets from Kiyosaki, he bought bitcoin at $6,000 and $9,000, and believes “the time to get rich is coming,” also stating that BTC itself provides educational opportunities to better understand what is is happening with the US financial system.
In the last few months, Kiyosaki, whose 1997 book “Rich Dad Poor Dad” sold over 32 million copies worldwide, predicted that “the biggest stock market crash in world history [is] coming,” which could affect crypto assets like BTC.
But not everyone agrees with his predictions. A Twitter user responded to Kiyosaki’s latest article with a chart of eight of the author’s past predictions, all of which failed, warning, “Don’t follow Robert Kiyosaki’s investment advice.”
Bitcoin Hitting $40K
On Friday, Bitcoin topped $40,000 for the first time in two weeks, after continuously showing signs of investor hesitancy following the U.S. Department of Labor’s recently issued report of the U.S. adding 467,000 new jobs in the month of January.
In the past 24 hours, the price of bitcoin jumped 8.9% to just over $40,219, breaking above the $40,000 mark for the first time since Jan. 22. approach is not surprising, especially since interest rates are expected to rise in March.
