‘Rich Dad Poor Dad’ author Robert Kiyosaki on Monday called Bitcoin (CRYPTO: BTC) the "best protection” against what he fears could be an impending bout of hyperinflation, similar to historical economic catastrophes.
What Happened: In a tweet shared on X, Kiyosaki said, “..Are we about to celebrate hyperinflation too? I hope not. "
Pointing out the decentralized nature of Bitcoin, Kiyosaki highlights its value as “People’s money."
He added, "Food will always be valuable as will guns, gold, and silver. Yet I believe Bitcoin is your best protection because Bitcoin is People's money which means people control the value of Bitcoin not our leaders."
Why It Matters: Kiyosaki in September contemplated the future of Bitcoin and the U.S. Dollar and was seemingly not so bullish on the apex coin at the time.
“Citibank announced today it is offering bank blockchain technology to turn institutional savings into Citibank tokens which can be used for instantaneous 24/7 cross-border transactions. Bye bye BC & US $?” Kiyosaki posted on X.
Kiyosaki has expressed his admiration for gold, silver, and Bitcoin several times. He believes these assets are of utmost importance. In fact, in April he predicted that Bitcoin would soon reach $100,000, attributing this to Bitcoin being the “people’s money” and gold and silver being “God’s money.”
Price Action: At the time of writing, Bitcoin was trading at $37,600, up 1% in the last 24 hours according to Benzinga Pro.
Photo Courtesy: Wikimedia Commons