Bitcoin has been subject to many views and opinions lately, and the latest well-known figure to share his views on that cryptocoin is Robert Kiyosaki. Kiyosaki, who gained fame after the publication of his book titled Rich Dad, Poor Dad, claimed that the US Dollar is fake money and that this fiat currency will soon be replaced by cryptocurrencies, with a particular focus on Bitcoin.
Author Of Rich Dad, Poor Dad Says Bitcoin Is Going To Replace The Dollar
In a recent podcast interview, Robert Kiyosaki called the US Dollar “fake money.” He explained that the moment the gold standard was taken off the dollar, the fiat currency that has become “default” in the United States became what he refers to as “fake.”
When we look at the facts that Robert brought up during his interview, as well as what he wrote in his book Rich Dad, Poor Dad, things really come together. Robert explains that the reason why the dollar is not considered a legit currency anymore is that it was taken off the gold standard. This move was made in 1971, by the president of the United States at the time: Nixon.
Kiyosaki continued to explain that the United States is continuously printing new money. While they are classifying this as “quantitative easing,” Robert is claiming that the printing of money by the United States is causing a large bubble to be constantly inflated.
In his interview, Robert suggested that people should invest in gold. He explained that when the dollar falls in value, gold rises in value in return. According to Kiyosaki, this could be a better way than relying on US Dollars for savings and “making money” through investments.
Robert’s Three Types Of Money
In the “Sane Crypto Podcast” from the Micky.com.au news site, Robert explained that there are three types of money or currencies in the world at the moment. He based his categorization of currencies current economic statistics.
These are the categories he has named:
- Fiat currency is what he refers to as government money. This includes the US Dollar as well as Euro, British Pound and all the other local currencies throughout the world.
- He referred to silver and gold as “God’s money.” He explained that these valuable metals, which hold monetary value, will be present on Earth for eternity, or as he put it, these metals will be here even after cockroaches.
- The last category was cryptocurrency, which he categorized as “people’s money.”
Bitcoin’s Current State
While Robert seems optimistic about the future of Bitcoin and other cryptocurrencies, we have seen the value of Bitcoin decline over the last few weeks. In fact, for a couple of weeks now, the currency has been trading for under $7,000. This has caused many people interested in the coin to wonder whether they should start considering selling their Bitcoin.
Many experts shared their opinions on the subject and explained that people should not be afraid of the current Bitcoin value. Instead, people are advised to consider this the perfect opportunity to invest in the coin. As for the US dollar, Robert Kiyosaki believes that the currency will not uphold its current status. He even referred to the dollar as “fake” money in his most recent interview, and dubbed Bitcoin and other cryptocurrencies as “the people’s money.”