Robert Kiyosaki, the renowned author of the personal finance book, “Rich Dad Poor Dad,” recently announced a bold investment move on Twitter: he is betting on Bitcoin (BTC).
Kiyosaki claimed that the world’s largest cryptocurrency by market capitalization is “up over 100% a year,” and he thinks that this trend will continue. However, it’s worth noting that Bitcoin is currently trading at $29,889, which is down by 28.09% over the last year, although it has increased by 80% since the beginning of 2023.
Kiyosaki’s decision to invest in Bitcoin is based on his mistrust of the Fed, Treasury, and the Biden administration, which he views as “liars” whose policies could lead to economic instability in the future. He believes that investing in Bitcoin, gold, and silver is a way to protect against inflation and safeguard one’s wealth.
“Bitcoin up over 100% in a year. Will Bitcoin keep going UP? I’m betting on it. I am buying more gold and silver. Why buy more Gold, Silver, BC? Because Fed, Treasury, and Biden are liars,” Kiyosaki tweeted on April 17.
The author’s comments about Bitcoin have generated a lot of buzz in the financial community. While some experts believe that Bitcoin is a sound investment, others warn that it is a highly volatile asset that carries significant risks.
Kiyosaki wars of an ‘economic tsunami
In April, Kiyosaki alerted his viewers of the strong chance of an ‘economic tsunami’ coming to sweep the United States and the rest of the world after stating ‘inflation is going through the roof’ and will have deadly consequences.
The ‘Rich Dad’ author said:
“The biggest in the world because it’s global. I mean, it’s going – Credit Suisse, Deutsche Bank, Bank of Japan – doesn’t get much bigger than that. And China’s having trouble too.”
Kiyosaki’s mistrust of government institutions and their policies seems to be a recurring theme in his investment decisions, including his decision to invest in Bitcoin, gold, and silver. Last year he expressed concern about President Joe Biden’s executive order on crypto, “Ensuring Responsible Development of Digital Assets.” He likened it to the dystopian vision of the future depicted in George Orwell’s “1984.”