A few days ago, the famous author of “Rich Dad Poor Dad”, Robert Kiyosaki, published a tweet on his official profile in which he seems to indicate Bitcoin as the way to the “financial heaven”.
WOW:Words of Wisdom: “There are a million paths to financial heaven and a billion paths to financial hell.”Fed and Treasury destroying the dollar sending billions of $ savers & uninformed to financial Hell. Go to financial heaven. Save gold, silver, & Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) February 2, 2022
Summary
Kiyosaki’s tweets about Bitcoin
From time to time Kiyosaki publishes on Twitter his reflections within a column called “WOW: Words of Wisdom”. The latest tweet in this column is about financial hell and heaven.
After saying that he believes there are millions of roads to financial heaven, but billions to financial hell, he blamed the US central bank (Fed) and the government (Treasury) for destroying the dollar by creating and distributing billions of dollars to uninformed savers. This would be the road to financial hell.
Whereas the way to financial heaven is to accumulate gold, silver and Bitcoin.
So for Kiyosaki, expansionary monetary policies that generate inflation would be evil, while accumulating assets to hedge against inflation would be good.
It is worth noting that gold is a risk-off hedge, as is silver more or less, while Bitcoin is a risk-on hedge, so it is hardly surprising that he recommended accumulating both.
Profits according to Kiyosaki
During the January crypto market drop he had posted another tweet in which he said that real profits in financial markets are generated when you buy, not when you sell. That’s why he considered the Bitcoin price drop to be good news.
In fact that day the price fell as low as $33,500, while in the last few days it has risen back above $42,000, which is a 26% gain in two weeks.
Kiyosaki has already expressed many times in the past his aversion to the expansive monetary policies of central banks, and inflation, and has in fact been a long-time supporter of Bitcoin as a risk-on hedge against inflation.
For example in December 2021, the loss of purchasing power of the US dollar compared to 12 months earlier was 7%, while the value of BTC in US dollars increased by 64%. Its current value for example is also 8% higher than it was 12 months ago.
In such a perspective, Bitcoin is not an alternative to gold, but a complementary asset to the precious metal because it can generate greater profits, even if it means running the risk of generating greater losses.
