Rich Dad Poor Dad Author: Bitcoin Is 'Taking on' the Federal Reserve

Michael LaVere
  • Robert Kiyosaki is impressed by bitcoin's ability to take on the Fed and other regulatory bodies.
  • Predicts a global economic downturn between 2022 - 2025. 

Rich Dad Poor Dad author Robert Kiyosaki believes that bitcoin has entered a David-versus-Goliath scenario with the US Fed and regulatory bodies around the globe. 

Kiyosaki, who has sold more than 32 million copies of his financial advice book, told Bloomberg in an interview  that bitcoin and cryptoassets are “taking on the FED,” and challenging powerful regulatory bodies. 

According to Kiyosaki, 

I think it’s so interesting. they’re taking on the FED, one of the most powerful banks ever created. And they’re messing into their territory. That’s like me taking on McDonald’s. So I think they’re gonna step on them. I think it’s a very exciting time.

While Kiyosaki refrained from outright endorsing bitcoin, he admitted to being less informed on cryptoassets and encouraged traders to invest in industries they support. 

He said, 

Personally, I’m a technosaurus rex. I can barely use a cellphone. So I’d best stay out of cryptocurrencies. So if you’re a young person and you like crypto, it might be your place. Again, everything is ‘just do what you love.’ I love businesses, I love gold [...] I love using debt as money — because in 1971 the dollar became debt — and I love paying no taxes legally.

In addition to commenting on bitcoin, Kiyosaki also predicted a global economic downturn within the next three to five years, driven by a crisis in the pension market. 

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