The author of “Rich Dad, Poor Dad”, Robert Kiyosaki is seen again praising Bitcoin, the world’s number one cryptocurrency by market cap. He explained in an interview with Anthony Pompliano – a bitcoin enthusiast and investor who just persuaded comedian Bill to buy his first amount of BTC; Kiyosaki said in the interview that real estate and gold are no longer powerful stakes of investment in the United States and that bitcoin is the new way of investing in the future. He said:
“Real estate and gold guys are being phased out… the bitcoin world is coming into view right now… I think it’s important, especially for old guys like me, to understand the crypto world because that’s coming into view right now and us real estate and gold guys are being phased out”.
It is said that Robert Kiyosaki has been on a massive campaign for bitcoin since March when the Covid-19 pandemic hit the world economy and the US. economy hard. He went on a Twitter rant since when the U.S government issued stimulus checks. Since then, he told people that the rise of bitcoin was about happening and death of the U.S dollar was imminent and that people who do not want to be affected by hardcore inflation should get involved in bitcoin. He also said the bitcoin price would spike to $75,000 in the next three years; “There’s this battle on today between old guys and young guys. As an old guy, it’s taken me a while to get on to (bitcoin and crypto), but now I’m buying it.”
He stated that he originally tried to purchase his first set of bitcoins in the latter part of 2017 when the price almost struck $20,000 per bitcoin, but he never finalized the transaction. He also wrote further about how the decentralized nature of bitcoin is challenging the hegemony of fiat currencies –
“Bitcoin and other cryptocurrencies are now challenging the hegemony of the U.S dollar and other fiat currencies. In May 2020, a historic event cut the daily incoming supply of bitcoin from 1,800 bitcoin per day to 900 bitcoin per day, a sort of quantitative hardening, opposite of what the Fed is doing by printing trillion of dollars. Central banks, in simplest terms create money out of nothing. They create ‘fake money’ and loan it to governments. Bitcoin, on the other hand, is completely decentralized, meaning that nobody can manipulate the market and there is not any single point of failure… it will be interesting to see how long the central banks will tolerate the competition from cyber money before there is a showdown”.