Bitcoin

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Believes Bitcoin Will Replace Fake Currency

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Believes Bitcoin Will Replace Fake Currency

The well renowned author and writer, Robert Kiyosaki has released the most promising statement of the year in favor of cryptocurrency. He had very confidently said that ‘the cryptocurrency is very soon going to replace the US Dollar or the Fake money from the market.’ The entire global market is astonished and amazed at the same time hearing this statement from such an epic figure.

Robert Kiyosaki is known for his amazing works and writings and the most appreciated work he has done till date is ‘Rich Dad, Poor Dad’. He received an overwhelming response from the audience for this book. The book is written in the ‘Finance’ niche and was unexpectedly appreciated by a lot of readers and people from this particular industry. Not only this, more than 32 million copies of his book has been sold all around the world. This huge number ultimately turned this book into a multinational sensation. The book basically covers the overall need and importance of financial literacy.

Mr. Kiyosaki, in an interview, had recently disclosed his concern for the fake money and expressed that seeing the current scenario and craze for cryptocurrency among the people around the world, he can easily predict the near future. He is worried about the fact that someday cryptocurrency is going to take the place of US Dollar, and in his opinion, that day is not that far from now. Point to be noted, he is concerned for the failure of Dollar and not for the success of Bitcoins!

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Robert Kiyosaki conveyed his fear by saying that the current situation of the US economy and its currency which obviously is Dollar, has not been backed by gold since 1971. This was the time when President Nixon conclusively blew off the gold standard. And according to him, this is actually what that has turned the US Dollar into Fake Money.

Following is the actual statement that he has given in context to the same: “I have always been a gold bug. The latest book of mine which is soon coming out is called Fake. And the best part is there is so much fake money in our country as well. Nixon in 1971, took the dollar off the gold standard leaving the US dollar and making it a fake money.”

Mr. Kiyosaki also expressed his concern about the country’s economy which according to him is soon going to be the next massive crash. He supported this fear by saying that the country, unfortunately, had a big economic crash in 2000, and then in 2008. But no one can see the biggest of all which is arriving very quickly and will spoil everything. The author further said that it is very unfortunate for our country that our currency is coming to an indefinite end.

In an interview during the month of April 2018, he once shared his views on cryptocurrencies by calling it as people’s money, much like the ‘people’s champion’. After making that statement, he didn’t go further ahead to explain the exact reason but strongly believed that cryptocurrencies, gold and silver will eventually replace the Fiat currency.  

The sources even confirm that Mr. Kiyosaki might be having the right vision, as UBS in its recent report mentioned that Bitcoin needs to have a value of $213,000 in order to replace the US dollar. And this value is definitely not impossible to reach as we see the current market scenario of bitcoin and other cryptocurrencies. So, we can say that the author is going on the right track and his fear and concern is something that should be given a thought in order to maintain the economic balance in the country.

Image Source: “Flickr”

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