Although no one has a perfect track record, following the cues of renowned investors can help make sense of an often chaotic and confusing financial landscape.
Robert Kiyosaki, author of ‘Rich Dad Poor Dad’ is a dominant voice in the space — if controversial at times. The longtime real estate and gold bull was an early proponent of Bitcoin (BTC) — and still maintains that it is the asset to own on account of its growth potential and role as a store of value.
However, Kiyosaki’s track record, whether we’re talking about predictions or success, is murky at best. The investor has often been labeled as an alarmist, and has a tendency of making bold forecasts — only to radically change his tune in short order.
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In a recent January 1 post made on social media platform X, Kiyosaki took aim at two of the arguably most respected investors of all time — Warren Buffett and Charlie Munger, criticizing the duo’s oft-repeated negative stance toward the pioneering cryptocurrency.
Kiyosaki doubles down on bullish bets
Having previously set a $350,000 price target for Bitcoin in 2025, just weeks after he predicted that the cryptocurrency would see prices crash down to $60,000, the author derisively referred to Buffett and Munger as ‘very old, very rich men’, asking ‘Why should I care what they think about Bitcoin?’.
The fact that Munger had passed away in 2023 seems to have slipped Kiyosaki’s mind — in addition, he misquoted Buffett, who referred to Bitcoin as ‘rat poison squared’ in 2018, not ‘rat droppings’ as stated by Kiyosaki.
While he agreed with the Berkshire Hathaway (NYSE: BRK.A) duo’s assessment that investors should ‘know, study, and understand’ what they invest in, Kiyosaki added that the likes to study and listen to people smarter than him…at least those smarter than him when it comes to Bitcoin.
Finally, the investor restated his intention to get richer by investing in BTC, real estate, gold, and silver, before wishing readers a happy new year. Bitcoin was trading at $96,580 at press time, having secured 125.54% in returns over the last twelve months.
Ultimately, it’s hard to see Kiyosaki’s statements as anything other than a publicity stunt. While his stances (if not his predictions) are justified by Bitcoin’s price appreciation, the digital asset simply doesn’t have a place in Buffett’s value investing philosophy — a fact that won’t be shocking to anyone even remotely familiar with his work and approach to financial markets.
Featured image via Shutterstock
