As the BRICS (Brazil, Russia, India, China, and South Africa) nations gear up for their upcoming summit, Robert Kiyosaki, the renowned author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ reaffirms his grave prediction for the United States dollar and extols Bitcoin (BTC) as a viable alternative.
The Devaluation of USD and Bitcoin’s Role
In a recent episode of his podcast streamed on August 2, Robert Kiyosaki engaged in a discussion with Miguel Munoz and Charlie Engler, co-founders of educational platforms Cultivate Crypto and Doghouse Crypto. The primary topics of conversation were the devaluation of the USD and the significance of Bitcoin in today’s financial landscape.
According to Kiyosaki, “the reason why poor people are poor is that they don’t recognize real money from fake money (…), and the biggest fake thing is the US dollar.” He candidly confessed that he was not always keen on Bitcoin, but now he regrets not purchasing more. As he explains:
“I own 60 BTC. I know nothing beyond that; I bought them at $6,000 each (…), and the reason I bought them is not that I’m a crypto expert. I’m a trader (…). When Bitcoin first hit a high of about $20,000 and retraced back down to $100, I said, ‘ah, it’s gone,’ but when it kept coming back and hit $6,000, I said, ‘I think it’s here to stay.’”
Bitcoin: The Hedge Against Criminal Money
Kiyosaki goes on to commend Bitcoin, as the “biggest hedge against criminal money,” emphasizing its critical role following what he believes will be “one of the biggest changes in world history” during the next BRICS meeting scheduled for August 22 in Johannesburg.
In his view, the BRICS nations, along with Saudi Arabia and potentially Mexico and Japan, are likely to rally behind a cryptocurrency backed by gold, leading him to assert that the “US dollar is toast.”
De-dollarization and Safe Investments
He has been vocal that the August BRICS summit will mark the beginning of the “de-dollarization” of the world, with approximately 41 nations, possibly including France, “ganging up” against the US fiat currency.
As a finance educator, Kiyosaki has advised investors to consider safeguarding their assets by investing in gold, silver, and the flagship decentralized finance (DeFi) asset to shield themselves from the repercussions of the impending giant crash, which he believes will deal a fatal blow to fiat money.
Bitcoin: Insurance Against Corruption and Economic Tsunami
Furthermore, Kiyosaki contends that Bitcoin serves as the “best insurance against high corruption and incompetence” in the government, which he believes is escalating in the US as the country hurtles toward a “crash landing” and an “economic tsunami” due to the diminishing status of the USD as the global reserve currency.
Simultaneously, he projects that Bitcoin will reach a price of $120,000 in 2024 as the US dollar “dies” following the BRICS summit in August. This, in turn, will cause “trillions of US dollars to rush home,” leading to soaring inflation.
Source: Finbold
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