Every once in a while, there appears a self-help book that a lot of people seem to resonate with. In this regard, the author of the famous financial guide ‘Rich Dad, Poor Dad’ has described the US dollar as being a “complete and utter scam”.
In addition to this, he also referred to as bitcoin and other altcoins as being “currencies for the masses”.
“Cryptocurrencies are assets for the future”
While being interviewed by Kim Hughes for the Sane Crypto Podcast, Kiyosaki referred to the dollar as being “virtually worthless”. He then went a step further and predicted a stock market crash in the coming few months.
Expounding upon his stance towards the fiat and crypto domain, he said:
“The US Dollar is a scam…I think the dollar is toast because gold and silver and cyber currency are going to take it out…The US Dollar is gone…In the year 2000 there was one currency, the US Dollar. It was called the reserve currency of the world…and then came bitcoin or cybercurrency.”
Kiyosaki Supports Bitcoin
While promoting his latest book, ‘Fake: Fake Money, Fake Teachers, Fake Assets’, Kiyosaki made it abundantly clear that Bitcoin, Ethereum and other major digital assets were economically more viable moving forward, and that these digital currencies would outlast traditional assets after the impending collapse of the financial market.
In this regard, he added:
“In my new book… I talk about the three types of money today: God’s money, which is gold and silver, government’s money which is fiat currency, which is done by government decree which is the dollar… Then there’s the people’s money, which is cybercurrency on the blockchain technology. Gold is a hedge and I am expecting a collapse on the system…[and] which is why you are into cybercurrencies now… bitcoin and ethereum.”
Is All of This Plain Fear Mongering?
Kiyosaki has never been one to shy away from making bold assertions. For example, he has time and again said that the coming financial crash will be much more severe than the ones that took place in the late 90’s and all through 2008.
Additionally, he is not the only one to share these beliefs, as Apply executive Steve Wozniak too has echoed Kiyosaki’s sentiment in the past.
While nothing that Kiyosaki says should be taken at face value, his opinions do carry some weight, especially since he has been correct about quite a few financial matters in the past.