In a recent episode of the popular podcast 'The Rich Dad Channel', Robert KiyosakiAuthor of the renowned book “Rich Dad, Poor Dad”, advocated for cryptocurrency investments, specifically eth/ethereum-price-increase-3080/” rel=”nofollow noopener” target=”_blank”>ethereum and bitcoin. The financial expert has shed light on the fall in the value of the US dollar (USD), highlighting the possible emergence of a market crash.
ethereum will serve as a hedge against currency depreciation
During the podcast, speaking with 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 risk coverage associated with fiat currencies, particularly the US dollar.
The financial expert, who has been a long-time proponent of digital currencies, has consistently encouraged investors to allocate funds to crypto assets to safeguard your wealth against inflation and other economic conditions.
While acknowledging his limited understanding of bitcoin, the world's largest cryptocurrency, Kiyosaki also expressed support for eth/ethereum-price-bullish-3000/” rel=”nofollow noopener” target=”_blank”>ethereum, as well as other precious metals such as gold and silver during his podcast. He conveyed his belief that the falling value of the US dollar will deteriorate further over time as the The debt crisis worsens.
Furthermore, Kiyosaki revealed that he avoids saving his funds in fiat currency and emphasized that “savers were losers.” Furthermore, he revealed that he started saving bitcoins about 10 years ago and more recently expanded to ethereum.
The financial expert reiterated his skepticism regarding the credibility of the US dollarcalling it “false” and advocated that the financial community in general diversify assets into tangible resources such as gold and silver, as well as digital currencies such as ethereum and bitcoin.
Furthermore, Kiyosaki emphasized that there was no need for the crypto community bitcoin/peter-schiff-warns-investors-from-bitcoin-says-they-should-buy-this-instead/” rel=”nofollow noopener” target=”_blank”>debate the relative value of bitcoin over gold or silver. He stressed that the crucial point was to diversify into a valuable non-depreciating asset like the US dollar.
“Don't save money, fake money (US dollar, euro, yen, peso) loses value. Save gold, silver, bitcoin, real money that increases in value, especially in a market crash”, Kiyosaki x.com/therealkiyosaki/status/1786227254168629296?s=46″ rel=”nofollow” target=”_blank”>fixed in a post from x (formerly twitter).
Kiyosaki loses faith in the US dollar
In the podcast, Kiyosaki stated that he had lost faith in the US dollar, citing market vulnerabilities and crippling debts totaling trillions of dollars. The financial author x.com/therealkiyosaki/status/1783602546235318453?s=46″ rel=”nofollow” target=”_blank”>revealed in an x publication in late April that the American economy was currently experiencing a depression.
It revealed that the economy had experienced poor 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 market decline had begunemphasizing that “crises were the best time to get rich” and urging investors to take advantage of the opportunity by investing when prices have hit bottom.
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eth price makes its way above $3,000 | Source: ETHUSD on Tradingview.com
Featured image from Inside Bitcoins, chart from Tradingview.com
