Rich Dad Poor Dad’s Author Now Invests in ETH After BTC and Gold

Robert Kiyosaki – founder of Rich Global LLC and Rich Dad Company – recently told his followers to invest in Ethereum before “the biggest crash in history.” Thus, the author of the best-selling book Rich Dad Poor Dad added ETH to BTC, gold, and silver as his most-preferrable investment instruments.

Kiyosaki’s Plea: Invest in Crypto

The multi-millionaire businessman and author issued his warning earlier this week on Twitter. He made an extremely pessimistic forecast for global financial markets, given the current state of US politics and Evergrande’s debt.

“US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande– China’s biggest property developer with 800 projects in 200 cities– out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history.  Take care.”

Kiyosaki is known for his aversion to fiat currencies due to their rampant inflation and his preference for stocks, real estate, and metals as a store of value. He welcomed Bitcoin among these a while ago and even considered buying more BTC during its most bearish point this year.

However, this marks one of the first times Kiyosaki has mentioned Ethereum as one of these safe-haven assets. Ethereum’s price tends to move more erratically than Bitcoin in the short term. However, it has generally followed the primary cryptocurrency’s movements across time.

Stop Arguing, Start Buying, says Kiyosaki

For Kiyosaki, the particular asset class he invests in is almost irrelevant. His wish is simply to avoid the collapse of fiat and the traditional monetary system, which he sees as inevitable.


He aired his feelings on this matter in March, during a Defi-focused episode of his podcast. He also said that he was personally invested in Ethereum.

“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’

Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”


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A third of Salvadorans ‘actively’ using Chivo wallet, President Bukele claims

Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit. 

The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s only a matter of time before Chivo adoption eclipses all banks in El Salvador combined.

The state-issued Chivo wallet launched in early September as El Salvador officially recognized Bitcoin as legal tender — a landmark move that could offer an important case study for other countries in the region. Chivo enables individuals and businesses to send and receive payments in Bitcoin or dollars from anywhere in the world. The wallet is available on both Android and Apple devices. As Cointelegraph reported, Mexican cryptocurrency exchange Bitso has signed on as the core service provider for Chivo.

Related: El Salvador’s credit rating could take a hit amid Bitcoin adoption, warns S&P Global

Bukele’s latest update suggests that the Bitcoin Law is being received favorably across the country, even as hundreds of anti-government protestors took the streets to voice their opposition. On Sept. 15, those protests culminated in the burning down of a crypto kiosk in the nation’s capital city.

To be sure, mass adoption of Chivo is due in part to the government airdropping $30 worth of BTC to every Salvadoran account holder. According to a recent survey from São Paulo-based agency Sherlock Communications, slightly more than half of Salvadorans have no familiarity with Bitcoin.

In the meantime, Bukele’s government has been filling its coffers with BTC following a series of volatile price swings for the digital asset. El Salvador “bought the dip” on at least two recent price drops — Sept. 7 and Sept. 20 — bringing its total holdings to 700 BTC.