Amid warnings of a major financial crash, famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his views on why the United States dollar, in particular, might suffer as a new currency threatens its global domination.
Specifically, Kiyosaki was visiting South Africa, “watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold,” as he told his followers in an X post published on May 12.
Hyperinflation on horizon
Indeed, according to the renowned finance educator, if the rumors are true, this would mean a loss of value to the US dollar and a hyperinflation in the US, and he recommended investing money in alternative assets instead, including gold, silver, and Bitcoin (BTC) to protect oneself against this crash:
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“If BRICS gold crypto happens, trillions in fake money, fiat US dollars will come rushing back to home to America causing hyperinflation in America, ultimately destroying US dollar. Best buy real gold, silver, and Bitcoin now, and protect yourself from the crash of US dollar.”
As a reminder, Kiyosaki has lately intensified his doomsday warnings, stressing the crash has already started, signaling the end of the US dollar, and that the dire situation is only worsening “because our debt keeps going up,” with the dollar’s demise the primary reason to accumulate the above assets.
More recently, he said that most people were living in “Disneyland” instead of preparing for the crisis using a strategy he considers the best – starting their own business, using debt as money to buy cash-flowing assets like rental properties, and saving gold, silver, and the maiden cryptocurrency.
Robert Kiyosaki and Bitcoin
Interestingly, the ‘Rich Dad Poor Dad’ author has also admitted to being a latecomer to the crypto industry and not knowing much about the flagship decentralized finance (DeFi) asset, but he has been a fan nonetheless, including Bitcoin in most of his recommendations.
On top of that, he has agreed with the founder and CEO of ARK Invest, Cathie Wood, and her extremely bullish prediction that Bitcoin price in USD could hit $2.3 million. For now, Bitcoin is trading at $61,639, gaining 1.55% on the day, but declining 4.57% in the past week, and losing 8.58% on its monthly chart.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
