In a recent episode of the popular podcast “The Rich Dad Channel,” Robert Kiyosakithe author of the famous book “Rich Dad Poor Dad”, advocated for crypto investments, especially Ethereum and Bitcoin. The financial expert highlighted the depreciation of the United States dollar (USD), highlighting the potential emergence of a stock market crash.
Ethereum will serve as a hedge against currency depreciation
During the podcast, speaking to Andy Schectman, 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 coverage against risks associated with fiat currencies, particularly the US dollar.
The financial expert, a long-time advocate of digital currencies, has always encouraged investors to allocate funds to crypto assets in order to safeguard their heritage against inflation and other economic conditions.
While acknowledging his limited understanding of Bitcoin, the world’s largest cryptocurrency, Kiyosaki also expressed support for Ethereum, as well as other precious metals like gold and silver during his podcast. He expressed his belief that the decline in the value of the US dollar will further deteriorate over time as the the debt crisis is worsening.
Furthermore, Kiyosaki revealed that he avoids saving his funds in fiat currency, emphasizing that “savers are losers.” Additionally, he revealed that he started save bitcoin about 10 years ago and more recently expanded to Ethereum.
The financial expert reiterated his skepticism about the credibility of the US dollarcalling it “fake” and pleaded for the broader financial community to diversify assets into tangible resources like gold and silver, as well as digital currencies like Ethereum and Bitcoin.
Additionally, Kiyosaki emphasized that there is no need for the crypto community debate the relative value of Bitcoin versus gold or money. He stressed that the crucial point was to diversify into a valuable asset that would not depreciate like the US dollar.
“Don’t save money, fake currency (US dollar, euro, yen, peso) loses value. Save gold, silver, Bitcoin, real money that increases in value, especially in a stock market crash,” Kiyosaki declared in an X post (formerly Twitter).
Kiyosaki loses confidence in the US dollar
In the podcast, Kiyosaki said he had lost confidence in the U.S. dollar, citing market vulnerabilities and crippling debts totaling billions of dollars. The financial author disclosed in an X post at the end of April, that the American economy was currently going through a depression.
It revealed that the economy had experienced lackluster growth in recent years, with growth rates of only 3.4% and 1.6% in the fourth quarter of 2023 and the first quarter of 2024, respectively. Kiyosaki too warned that the broader stock market crash had begunemphasizing that “crashes were the best time to get rich” and urging investors to take advantage of this opportunity by investing when prices hit their lowest levels.
ETH price makes its way above $3,000 | Source: ETHUSD on Tradingview.com
Featured image from Inside Bitcoins, chart from Tradingview.com
