'Rich Dad Poor Dad' Author Trusts Bitcoin, Names Big 'Sins' of Fed Reserve
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Robert Kiyosaki, prominent entrepreneur and investor, famous for his classic book on dealing with personal wealth, “Rich Dad Poor Dad,” has published a tweet about Bitcoin and the U.S. Federal Reserve, saying that he trusts the former and explaining why he does not trust the latter.
This happened after he touched on the subject of Bitcoin and the fast growing U.S. national debt in his recent tweet.
Kiyosaki trusts Bitcoin over Federal Reserve
Robert Kiyosaki has described why he dislikes the Fed, accusing it of being a big issue-maker for the U.S. economy. The prominent investor wrote that “the Fed is the problem.” He accused the Federal Reserve of destroying the U.S. economy, making the low and middle class poorer than they already were and slammed the Fed for bailing out “their rich banking friends.”
He urged his two million Twitter followers to pay less attention to what the Fed is saying and doing. Instead of the Fed, Kiyosaki wrote that he trusts Bitcoin, gold and silver.
Yuri MolchanUS debt continues to grow, Bitcoin will take off: Kiyosaki
On Feb. 14, Kiyosaki also tweeted a prediction about Bitcoin and gold. He believes that the world’s flagship cryptocurrency will take off in the future, and gold will crash below the $1,200 level.
He expects gold to go down despite the fact that American banks are absorbing it now, as they prefer gold to U.S. bonds issued by the U.S. Treasury to support the country’s national debt. Referring to a recent interview with the president of Miles Franklin Ltd. Andy Schectman, Kiyosaki agrees with him that fewer and fewer banks want to buy Treasuries now as they prefer gold as a more stable asset to invest in.
Thus, Kyosaki reminded his Twitter audience that the U.S. national debt continues to grow, having surged at an alarming rate from $31 trillion in 2023 (when the ceiling for it was removed by the government) to $34 trillion this year.
In January, the author of “Rich Dad Poor Dad” confessed that he had bought more Bitcoin – 5 BTC, namely, after the Securities and Exchange Commission regulator finally issued approval for spot Bitcoin ETFs.
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