Although Bitcoin has been observing a bit of a downfall for the past few weeks, there appears to be no shortage of personalities extolling its virtues. Robert Kiyosaki, the businessman and author of the well renowned financial self-help book, ‘Rich Dad, Poor Dad” spoke in favour of Bitcoin (BTC) while on the Sane Crypto podcast hosted by Kim Hughes. During the podcast, Kiyosaki described the fiat U.S Dollar as a “scam” and went as far as to say that the currency would be unable to outlive cryptocurrencies and the re-emergence of gold and silver.
“Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all. When it’s coming I don’t really know, but the foreshocks are sounding right now.”
Kiyosaki joined the league of individuals such as Bill Gates in echoing statements of the U.S economy heading towards an imminent financial collapse that would pale the recession observed in 2008. Kiyosaki then went on to describe metals such as gold and silver as God’s money and predicted that fiat currencies would be replaced by ‘cyber currency’.
“God’s money, which is gold and silver, will be here after the cockroaches go extinct, and people’s money, which is [crypto] currency…I think the dollar is toast because gold and silver and cyber currency are going to take it out.”
Although Kiyosaki had a very bullish attitude towards crypto, some Reddit users seemed sceptical at Kiyosaki support for crypto and contemplated whether his endorsement really helps the quality of the community. Even though Robert Kiyosaki seems bullish in his stance towards Bitcoin, the past few weeks has observed BTC trading for under 7,000. This has led many people to speculate over whether to sell or hold it. But if Kiyosaki is to be believed, ‘people’s money’ will eventually triumph over fiat currency.