- For financial defense against inflation of the US dollar and unstable economies, Robert Kiyosaki suggests Bitcoin.
- Possible BRICS-backed cryptocurrency launch could cause hyperinflation and destabilize the US dollar.
Renowned author of “Rich Dad, Poor Dad,” financial guru Robert Kiyosaki, has lately pushed Bitcoin as an essential asset for financial security. His support emphasizes Bitcoin and other assets as defenses against the expected demise of the US dollar.
Amidst the uncertainty of the world economy, Kiyosaki brought attention to the possible introduction of a cryptocurrency supported by BRICS countries, perhaps linked to gold reserves, which might have a big effect on the US economy.
Currently in South Africa a country I love. Watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold. If BRICS gold crypto happens trillions in fake money, fiat US dollars…
— Robert Kiyosaki (@theRealKiyosaki) May 12, 2024
New Gold Standard and the BRICS
A gold-backed cryptocurrency may be shortly introduced by the BRICS coalition, which consists of Brazil, Russia, India, China, South Africa, the UAE, Egypt, Iran, and Ethiopia.
Speculated to occur in 2024, this introduction may result in a significant repatriation of American dollars, resulting in extreme hyperinflation—a situation that Kiyosaki cautions might destroy the value of the dollar.
According to CoinMarketCap, the price of Bitcoin as of right now is about $62,940.62, up 3.23% over the previous 24 hours but down 3.62% over the previous week.
In order to protect personal financial stability, Kiyosaki suggests investing in Bitcoin in addition to gold and silver. The economic hardships brought on by the epidemic are evidence that he has consistently advocated for these assets.
Investment Methodology of Robert Kiyosaki
In earlier comments cited by ETHNews, Kiyosaki reiterated a scenario that newsletter writer Harry Shuler Dent had predicted would occur: he would increase his Bitcoin investments even if its value fell to $200.
This audacious move highlights Kiyosaki’s faith in Bitcoin as a hedge against depreciation of currencies and economic turmoil.
Kiyosaki attacks the American government’s pandemic response, which included printing more than $6 trillion in 2020 alone to boost the economy. Given these acts, he refers to the US dollar as “fake money,” implying that these budgetary policies have only made financial catastrophe more likely.