Tag: Robert Kiyosaki

Rich Dad Recommends Bitcoin Instead of Real Estate

by Blockchain News

Robert Kiyosaki, the financial educationist, popularly known as Rich Dad, has come out openly to denounce real estate as an investment alternative, but now he has changed his mind.

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Taking on Twitter over the weekend, Kiyosaki noted that he described, in his new book for 2022, dubbed the Capitalist Manifesto, how a Marxist is now governing the United States.

As described by Kiyosaki, under Marxist rulership, property taxes will be raised, rent controls will be imposed, and interest rates will also be hiked. According to him, all of these events will continue to impact the value of property taxes. 

Coming from the COVID-19 pandemic period that was ushered in in the first quarter of 2020, the government has taken two distinctly different directions as it concerns the interest rates in the country. At first, the interest rate was lowered to zero as the government attempted to help cushion the economy adversely impacted by lockdowns and layoffs affecting businesses.

Afterwards, the government reversed course when it discovered the economy had somewhat recovered from the pangs of the COVID-19 pandemic. The government started raising interest rates this year, and by general statistics, the real estate industry has been seeing generally low listings as prices are not favourable to buyers.

Despite the current economic conditions affecting every asset class, Robert Kiyosaki revealed that he is recommending Bitcoin as a reliable investment asset. Unusually, the financial guru also noted that he is classifying Gold and Silver alongside the asset classes that can serve as a good hedge against current inflation.

It has been a rollercoaster for the United States Federal Reserve as its interest rate hikes, targeted to tame inflation, have not really helped, with the last inflation figure pegged at about 8.2% for September.

While the price of Bitcoin is not particularly encouraging considering its deviation from its All-Time High (ATH) value back in November last year, the coin is tapped as one backed with solid fundamentals that can drive its growth in both the mid-to-long-term.

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Robert Kiyosaki: I will Buy More If Bitcoin Retest $20k

by NEWSBTC

Bitcoin has dropped to a low of $33,064 and could go further due to the negative sentiment that is permeating the markets.

Robert Kiyosaki, an American businessman and author, is unconcerned with the recent price dip in the Bitcoin market. He called bitcoin’s drop “great news” and promised to increase his exposure to the commodity if its USD value fell below $20,000.

Kiyosaki Sees Price Fall As Buying Point

The 74-year-old Kiyosaki, best known for his Rich Dad Poor Dad book series, is one of the experts who believe bitcoin is an hedge against financial crisis and inflation. He also believes that the pioneer cryptocurrency can be used for educational purposes. He stated in the summer of 2020 that BTC, along with gold and silver, “make people smarter, richer, and stronger against the Fed.”

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The popular author, who is a vocal proponent of cryptocurrency, stated this on Monday as bulls fought to keep prices over $34,000.

However, Bitcoin has dropped to intraday lows of $33,600, capping up a dismal week in which the flagship cryptocurrency’s value fell below crucial support levels of $40,000 and $37,300.

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According to Kiyosaki, a new slump that exacerbates the losses will be “great news.” According to him, this presents a buy-the-dip opportunity, which he intends to take advantage of.

The US businessman and founder of Rich Global LLC claimed that he purchased Bitcoin twice in the past, once when it was around $6,000 and again when it was around $9,000.

Robert kiyosaki bitcoin

BTC/USD at $33k. Source: TradingView

Kiyosaki predicted in May 2020 that Bitcoin would reach $75,000, however the aim was missed when prices peaked at roughly $69,000.

The author recently linked Bitcoin to “people’s money,” while gold was dubbed “God’s money.”

The investor has already expressed his skepticism for the traditional banking system, forecasting a US dollar meltdown. According to him, the monetary troubles generated by the Fed’s COVID-19 countermeasures have rendered the American national currency “fake dollars.” He urged individuals not to store money since their savings would be devalued during a recession. Instead, they should concentrate on bitcoin and gold in order to protect their wealth.

He also forecasted the 2008 Financial Crisis and questioned the US government’s countermeasures.

Related article |“Buy Bitcoin”: Robert Kiyosaki Foresees A New Depression

Not Only Kiyosaki Shares This Sentiment

Bitcoin’s price has dropped by more than half from its all-time high in November, prompting some to speculate that the crypto bubble has burst. However, according to Perianne Boring, creator of Digital Chamber, “volatility is not always a bad thing.”

She went on to say on CNBC’s “Squawk Box”:

“It’s normal to see 30-50% volatility in the crypto markets in any given month. The markets are behaving just as expected.”

In her view, Bitcoin price will likely rebound higher given the cryptocurrency’s fundamentals “are as strong as ever.”

This is not the first time Kiyosaki has taken aim at fiat currencies, particularly the US dollar. He mentioned a few years ago that the financial sector would undergo significant changes by the year 2040.

He predicted that gold will continue to play an active role because it has been present “for eternity.” He, on the other hand, had a different take on the dollar:

“Will the dollar be here? I don’t think so. The dollar is toast because gold, silver, and cyber currency are going to take it out.

The U.S. dollar is a scam. I think we are watching the end of the dollar. That’s what I’m saying.”

Related article | Rich Dad Poor Dad’s Kiyosaki is Buying More Bitcoin Today, But Why?

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Rich Dad Poor Dad Author to Buy More Bitcoin if BTC Dips to $20K

by CryptoPotato

The American businessman and author – Robert Kiyosaki – is not concerned about the recent price drop in the cryptocurrency market. He described bitcoin’s plunge as “great news” and vowed to increase his exposure to the asset should its USD value dip to $20,000.

‘Profits Are Made When You Buy’

The 74-year-old Kiyosaki, best known for his series of books called Rich Dad Poor Dad, is among the experts who consider bitcoin the right investment tool in times of financial crisis and inflation. He also believes that the primary cryptocurrency has educational functions. In the summer of 2020, he stated that BTC, as well as gold and silver, “make people smarter, richer, and stronger against the Fed.”

Having such a high opinion on the leading digital asset, it is no wonder that Kiyosaki is a bitcoin HODLer. In a recent tweet, he admitted buying BTC when its price was hovering around $6,000 and $9,000. True to his financial beliefs, he said profits are accumulated when one buys and not sells and vowed to purchase more BTC if its USD value dumps to $20K.

Not long ago, the author compared the cryptocurrency to “people’s money,” while gold was nicknamed “God’s money.”

In his view, the monetary problems caused by Fed with its COVID-19 countermeasures have turned the American national currency into “fake dollars.” He warned people not to save cash as their funds will get devaluated in times of recession. Instead, they should focus on bitcoin and gold to preserve their wealth.

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Who Shares The Same Viewpoint?

Earlier this month, the bitcoin-loving mayor of New York City – Eric Adams – opined that BTC’s price drop could provide good buying opportunities for investors. A few days ago, he even received his first paycheck as a leader of the Big Apple in cryptocurrencies instead of dollars.

The government of the small Latin American nation, which became a symbol of bitcoin’s adoption – El Salvador – is also not worried about the crypto decline. Recently, it bought 410 more BTC worth $15 million.

With its purchase, the country increased its holdings to a total of 1,801 BTC. Converted in US dollars (at the time of writing these lines), the amount is worth more than $62 million.

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Rich Dad Poor Dad Author Says Market Meltdown ‘Good News’ for Hard Assets Like Bitcoin, Dismisses Crypto Volatility

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki says an impending market meltdown would be “good news” for Bitcoin (BTC) despite the leading crypto asset’s recent price volatility.

In an interview with Danielle Cambone of Stanberry Research, Kiyosaki doubles down on his predictions of a major market crash from which holders of crypto and precious metals will benefit.

“… I’m hardcore silver and you know I’m [in support of] Bitcoin and all this, I’m a hard asset guy.

So [a market meltdown is] good news for us, but it’s bad news for the boomers. Very bad news.”

The best-selling author goes on to say that those with early entry points to hard assets won’t have to worry about extreme volatility triggered by a financial cataclysm.

“So as my rich dad said to me, ‘A profit is not made when you sell but when you buy,’ 

And so you always want to be early into the market.

So Bitcoin going up and down – I don’t really care because my entry point [was] $6,000. It’s always your entry point and how many… coins do you have.”

Kiyosaki says that he favors precious metals for having zero counterparty risk, and Bitcoin and Ethereum for being the networks outside of the purview of the Federal Reserve and the financial system.

“Gold and silver are ‘God’s money.’ There’s no counterparty risk to gold and silver. They’re elements of the periodic table. So God is the counterparty to gold and silver. Bitcoin is a network system, the same as Ethereum, it’s a network outside of the control of the Fed. 

So when people say that the Fed is going to shut down Bitcoin and all that, it’s possible, they did that in China, [but] anything’s possible today. So I would just listen to idiots like me.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Rich Dad Poor Dad Author Issues Dire Warning on Inflation, Says He’s Buying Bitcoin, Ethereum and Two Additional Assets

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki is concerned that working-class Americans will be wiped out by rising inflation unless they invest in several key assets.

In a YouTube video on The Rich Dad Channel, the widely known author says that true capitalism has been abandoned, and the government instead intervenes on behalf of banks.

“The reason they’re talking about inflation or deflation is because, way back when, in the 70s, a true capitalist would let a business fail. According to [Austrian political economist Joseph] Schumpeter, capitalism destroys inefficient companies.

If you look at one example, not too long ago there was Blockbuster Video. Then Netflix came along and they’re toast. They’re just gone. A true capitalist wipes out the inefficient or the obsolete.

But for the last so many years, since 1907 really, they’ve been saving the banks. The banks are so corrupt, and the reason the Federal Reserve had to come in was to protect the rich bankers.

And what they did was, back in 2008 there was quantitative easing, which is a very complex subject, but basically the Fed just prints money and gives it to banks to prevent them from failing. That’s not capitalism, that’s Marxism. That’s socialism, that’s communism. It’s called central banks.”

Kiyosaki warns that unlimited money printing as part of official government policy will eliminate the working class.

“The reason inflation is going to wipe out people is because the average person is a consumer. Everybody talks about, ‘T-bone steak [costs] this now, and gasoline’s this and toilet paper is that.’

That’s because… Everything’s to protect the bankers. And that’s why I feel for the working-class people. I think it’s criminal that our school system is part of Marxism. There’s no financial education in the schools and it’s not a mistake.

To the people who are complaining about inflation, just know it’s because the Federal Reserve Bank, the U.S. Treasury… they’re as corrupt as they come.”

The author tells his 1.8 million followers on Twitter that the recent 25% price increase at discount retail chain Dollar General is a bellwether event signaling that investors should protect themselves by picking up some cryptos like Bitcoin (BTC) and Ethereum (ETH), as well as gold and silver.

“Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer.

Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil. What are you buying?”

CNN Business reported this week that Dollar Tree cited rising inflation and the ongoing supply chain crisis as reasons why it planned to permanently abandon its longstanding $1 price point on all products.

At time of writing, Bitcoin is valued at $55,190, Ethereum is exchanging hands for $4,367, gold is going for $1,781, and silver is worth $22.44. Kiyosaki also issued a warning in September that a major stock market crash would occur in October of this year.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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‘Rich Dad Poor Dad’ Author Says Biggest Crash in World History Is Coming – Here’s His Outlook for Bitcoin, Silver, and Gold

by Dailyhodl

Rich Dad Poor Dad author Robert Kiyosaki is expecting the biggest crash in history to take Bitcoin (BTC) down along with other financial markets, but does think that this impending crisis will provide investors the “best time to get rich.”

In a new interview on Kitco News, the widely known author explains his take on the future of financial markets.

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Kiyosaki believes that the massive amount of debt accumulated by countries around the world will trigger an unprecedented market crash that even hard assets like gold, silver, and Bitcoin won’t be able to avoid.

“This is gonna be the biggest crash in world history. We’ve never had this much debt pumped up. Debt is the biggest problem of all, but that’s called ‘M2,’ money supply, and the debt-to-GDP ratio is out of sight.

So when it comes down [and] brings everything down with it, that’s when I’m going to be buying more gold, silver, and Bitcoin.”

If his prediction plays out, Kiyosaki says that in the long run, the downturn will offer a lot of upside to those who are willing and able to invest.

“When markets crash, it’s the best time to get rich. So I’m getting very excited about a crash coming because the better stocks will come available…

Unfortunately, there will be massive social unrest. That’s what I’m more concerned about because we have not reinvested. The [Federal Reserve] and the Treasury have only invested in the investor class, [and not] the working class.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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

by CryptoPotato

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.

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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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Rich Dad Poor Dad Author Says Bitcoin To Hit $1,200,000 As Working Class Is Getting Screwed

by Dailyhodl

Renowned personal finance author Robert Kiyosaki says Bitcoin will hit a price tag well into the seven figures within half a decade.

In a new interview with Kitco NEWS, the author of the best-selling Rich Dad Poor Dad reveals that he expects Bitcoin to surge by nearly 2,000% in the coming years.

“I bought Bitcoin at $9,000. I wish I bought it at 10 cents like a lot of people did. But now I look like a genius because today it’s around $55,000… and I think it’s going to go to $1.2 million in five more years.”

Kiyosaki says he intends to hold Bitcoin forever, as he quotes Gresham’s Law which states that money that is stable in value or undervalued (good money) replaces money that loses value fast or is overvalued (bad money) in the long run.

“The problem is too big… you know our pensions are going bust, baby boomers have no money. They shut down the economy, they’re going to print another $1.9 trillion. So it has never worked. It’s Gresham’s Law – bad money drives out good money. So when a guy like me gets my hand on a Bitcoin, I’ll never spend it…

Bitcoin is untested yet, but that’s why I was happy to get some at $9,000, and I may buy some again today or tomorrow just because I’m more bullish on it.”

The crypto and metals investor blames much of the political and financial establishment for making decisions that he says are hurting the people at the bottom of the economic ladder.

“I really don’t like how they screw everybody. It makes me rich because you know all the CEOs take all this fake money and drive up the stock price…But the working-class guy is getting screwed. You know the person working for money trying to pay the rent, trying this… they can’t afford to buy a house. They don’t buy stocks. They’re just surviving day-to-day and the price of food keeps going up and all this. That’s what happens when you print money.”

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Rich Dad Poor Dad’s Kiyosaki is Buying More Bitcoin Today, But Why?

by NEWSBTC

People usually buy Bitcoin in hopes that they would be able to sell it to others for higher profits. But for a celebrated financial expert like Robert Kiyosaki, Bitcoin is an opportunity to break away from government surveillance.

The ‘Rich Dad Poor Dad’ author delivered a tweet Wednesday morning in which he said that he would buy Bitcoin because of his anxieties over “digital yuan,” a federally-controlled version of Bitcoin, put to trial by the People’s Bank of China on Tuesday after taking years for developing it.

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Bitcoin versus Digital Yuan Battle Heats Up

In retrospect, Digital Yuan falls in the category of central bank digital currencies, or CBDC, whose sole purpose is to put a national currency atop a private blockchain ledger. Bitcoin serves in contrast as a decentralized cryptocurrency, managed by not one but hundreds of thousands of entities — aka miners.

As usual, no government or central bank gains control over Bitcoin’s source code, making it more independent than a regular CBDC.

But with China’s involvement in the CBDC space, things have become more about gaining virtual control over people’s financial lives. In his statements to the Financial Times, a Wall Street banker noted that President Xi Jinping’s authoritative regime would use digital yuan or digital renminbi to bring people’s everyday transactions under its radar — a thing it is already doing via its strict internet policies.

“The [digital renminbi] is heavily about the [Chinese Communist] party’s ability to exercise control,” also said Samantha Hoffman, senior analyst at the Australian Strategic Policy Institute.

Such fears alone have prompted people to opt for Bitcoin. While every transaction on Bitcoin’s blockchain is traceable, its backers tend to hide behind gibberish alphanumeric identities, thus gaining a thin layer of security from regulatory watchdogs.

Snapshot of a live transaction on the Bitcoin network. Source: BTC.com

Nevertheless, they risk being traced if even one entity in their long chain of bitcoin transactions reveals itself either by using a wallet that has gone through a know-your-customer process or just by practicing human negligence.

But…

…despite its limitation, Bitcoin appears better than a digital yuan to many. Mr. Kiyosaki is one among them.

“I would rather have Bitcoin than government fake surveillance crypto,” he said Wednesday. “Buying more [of the cryptocurrency].”

Shark Tank investor and software entrepreneur Kevin O’Leary also said in an interview with CNBC that he would rather buy Bitcoin than China’s “blood money,” citing carbon issues related to the cryptocurrency mining process in the country.

Many also see Bitcoin as a de-facto Chinese currency. More than 65 percent of the cryptocurrency’s mining pools/companies operate from China, according to Statista, giving the Jinping regime unprecedented — and potential — access to its supply to the rest of the world.

According to Mr. O’Leary himself, investors remain concerned about China’s excessive control of Bitcoin. They remain put off by the cryptocurrency, he noted.

The cost of one Bitcoin has increased twofold in 2021 due to institutional interest. The cryptocurrency was trading shy of $57,000 at the time of this writing.

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Bitcoin (BTC) $ 26,171.01 0.68%
Ethereum (ETH) $ 1,585.84 0.42%
Litecoin (LTC) $ 63.86 1.28%
Bitcoin Cash (BCH) $ 213.65 1.06%