In a recent discussion on ‘The Rich Dad Channel’ podcast, the well-known author of the book “Rich Dad Poor Dad,” Robert Kiyosaki, spoke about the benefits of investing in cryptocurrencies, particularly Ethereum and Bitcoin. Kiyosaki highlighted the decreasing value of the United States Dollar (USD) and warned of a potential market downturn.
Ethereum as a Safeguard Against Currency Depreciation
During the podcast conversation with Andy Schectman, the President of Miles Franklin, a precious metals company, Kiyosaki stressed the importance of diversifying investments into digital currencies. He suggested that cryptocurrencies could serve as a protective measure against risks associated with fiat currencies, especially the US dollar.
Acting as a long-time advocate of digital assets, Kiyosaki consistently advises investors to allocate a portion of their funds into cryptocurrencies to shield their wealth from inflation and economic challenges.
While admitting his limited knowledge of Bitcoin, the primary cryptocurrency, Kiyosaki also expressed his support for Ethereum and other tangible assets like gold and silver. He predicted that the declining value of the US dollar would worsen over time due to the growing debt crisis.
Additionally, Kiyosaki mentioned that he avoids holding his wealth in fiat currency, stating that he began storing Bitcoin approximately a decade ago and has more recently expanded his portfolio to include Ethereum.
The financial expert emphasized his lack of confidence in the US dollar, labeling it as “fake,” and encouraged individuals to diversify their assets into physical resources such as gold and silver, as well as digital currencies like Ethereum and Bitcoin.
Kiyosaki underlined that there is no need for the crypto community to debate the value of Bitcoin versus gold or silver. He stressed the importance of diversifying into assets that hold their value, unlike the US dollar.
“Don’t save money in fiat currencies; save in assets like gold, silver, Bitcoin, which appreciate in value, especially during a market crash,” Kiyosaki stated in a post on X (formerly Twitter).
Kiyosaki’s Loss of Confidence in the US Dollar
During the podcast, Kiyosaki expressed his loss of faith in the US dollar, citing vulnerabilities in the market and the massive trillions of dollars in debts. He mentioned in a recent X post that the American economy is currently facing a depression.
He revealed that the economy has shown weak growth, with rates of only 3.4% in Q4 of 2023 and 1.6% in Q1 of 2024. Kiyosaki also warned that a significant market downturn has already begun, highlighting that “crashes provide the best opportunity to accumulate wealth,” urging investors to capitalize on such opportunities.
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