'Rich Dad Poor Dad' Author Brings New Smashing Reason for Buying Bitcoin (BTC)

Robert Kiyosaki, author of a popular book on financial self-education “Rich Dad Poor Dad” and a financial educator, has taken to the Twitter/X social media network to issue an important statement on Bitcoin and a call to the community to start buying it.

Recently, Kiyosaki shared that he also purchased more BTC after the U.S. chief regulator issued approval of a spot-based Bitcoin ETF.

Here’s Kiyosaki’s Bitcoin statement to community

The financial guru tweeted that over the past five months — since the latest NFL season began in early September — the U.S. national debt increased drastically, adding another $1,000,000,000,000.

“Please buy more gold, silver and Bitcoin,” he tweeted. In his earlier social media posts, Kiyosaki criticized the Fed Reserve and U.S. Treasury and stated that he expects the worst scenario to occur and the U.S. dollar to fall into hyperinflation.

Many economists and financiers sounded the alarm last year as the U.S. government removed the “ceiling” for the U.S. national debt, allowing it to grow higher than $31.4 trillion. Since then, the country’s national debt started increasing rapidly, adding trillion after trillion USD and now standing at $34 trillion.

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Kiyosaki buys more Bitcoin after ETF approval

Earlier this week, the “Rich Dad Poor Dad” author tweeted that he had acquired five more Bitcoins to add to his BTC stash for fear of hyperinflation coming soon. This aligned with the U.S. Securities and Exchange Commission (the SEC) finally giving the green light to spot Bitcoin exchange-traded fund applications filed by a dozen Wall Street companies last year.

This list included BlackRock, Ark Invest and Grayscale. However, on the very first day of Bitcoin ETF trading, the new assets managed to attract only $400 million of investor funds in total.

As for the Bitcoin price, in line with analysts’ predictions, it has pulled back from above $49,000. By now, the world’s flagship cryptocurrency lost 15.15% (dropping to $41,590) and then recovered a little, now changing hands at $43,043. Recent analytics reports stated that traders have been selling part of their Bitcoin to lock in profits and also to release some cash in order to buy the newly launched spot-based Bitcoin ETFs.

Analyst Ali Martinez believes that Bitcoin can dive even lower.