Renowned author Robert Kiyosaki has expressed a strong belief in Bitcoin as a robust defence against wealth erosion caused by inflationary policies and financial mismanagement by government authorities.
Kiyosaki made this claim while explaining why he owns Bitcoin in a recent post on X. He attributed the devaluation of the U.S. dollar to policies implemented by key figures like Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers. He noted that these policies result in inflation, taxes, and manipulation of the stock market.
Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024
In 2020, Kiyosaki raised alarm about the potential manipulation in the stock market. At the time, he argued that sudden swings in stock prices are not natural but result from deliberate market manipulation. According to him, these market movements defy rational explanations based on normal market dynamics.
Kiyosaki, best known for his bestselling book ‘Rich Dad Poor Dad, has previously questioned the cryptocurrency’s intrinsic value. However, he now considers it an integral component of a well-diversified portfolio. In a 2022 post, he emphasized Bitcoin’s significance, especially in the face of a potential major economic crisis that could trigger a substantial surge in its price.
The author has also consistently raised concerns about systemic inflation, which he characterizes as an involuntary tax. Kiyosaki recommends investments in inflation-resistant assets such as Bitcoin, silver, and gold because inflation not only drives up prices but also diminishes the value of money.
In his famous book, ‘Rich Dad Poor Dad,’ Kiyosaki explained that corporations have a tax advantage over individuals because they can deduct expenses before paying taxes. Individuals, on the other hand, pay taxes first and then use the remaining income to pay for their expenses. This would lead to them having less money to survive even if their income is the same as big corporations.
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