In a recent episode on the popular podcast ‘The Rich Dad Channel,’ Robert Kiyosaki, the author of the renowned book “Rich Dad Poor Dad,” advocated for crypto investments, specifically Ethereum and Bitcoin. The financial expert has shed light on the diminishing value of the United States Dollar (USD), emphasizing the potential onset of a market crash.
Ethereum To Serve As Hedge Against Currency Depreciation
During the podcast, speaking with Andy Schectman, the President and owner of Miles Franklin, precious metals, Kiyosaki discussed the importance of investing and saving in digital currencies, suggesting that cryptocurrencies could be a possible hedge against risks associated with the fiat currencies, particularly the US dollar.
The financial expert, who has been a long-time advocate of digital currencies, has consistently encouraged investors to allocate funds to crypto assets in order to safeguard their wealth against inflation and other economic conditions.
While acknowledging his limited understanding of Bitcoin, the world’s largest cryptocurrency, Kiyosaki also expressed his support of Ethereum, as well as other precious metals like gold and silver during his podcast. He relayed his belief that the declining value of the US dollar will further deteriorate over time as the debt crisis worsens.
Furthermore, Kiyosaki disclosed that he avoids saving his funds in fiat currency, emphasizing that “savers were losers.” Additionally, he revealed that he started saving Bitcoin approximately 10 years ago and has more recently expanded into Ethereum.
The financial expert reiterated his skepticism regarding the credibility of the US dollar, branding it as “fake,” and advocated for the broader financial community to diversify assets into tangible resources such as gold and silver, as well as digital currencies like Ethereum and Bitcoin.
Moreover, Kiyosaki stressed that there was no need for the crypto community to debate the relative value of Bitcoin over gold or silver. He emphasized that the crucial point was diversifying into a valuable asset that would not depreciate like the US dollar.
“Don’t save money, fake money (US dollar, Euro, Yen, Peso) goes down in value. Save gold, silver, Bitcoin, real money that goes up in value, especially in a market crash,” Kiyosaki stated in an X (formerly Twitter) post.
Kiyosaki Loses Faith In The US Dollar
In the podcast, Kiyosaki declared that he had lost faith in the US dollar, citing market vulnerabilities and crippling debts totalling trillions of dollars. The financial author disclosed in an X post in late April that the American economy was currently experiencing a depression.
He revealed that the economy had witnessed subpar growth in recent years, with growth rates of only 3.4% and 1.6% in Q4 of 2023 and Q1 of 2024, respectively. Kiyosaki also cautioned that the broader market crash had commenced, emphasizing that “crashes were the best time to get rich,” and urging investors to capitalize on the opportunity by investing when prices have bottomed.
ETH price makes its way above $3,000 | Source: ETHUSD on Tradingview.com
Featured image from Inside Bitcoins, chart from Tradingview.com
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