The set -set with -set dad Robert Kiyosaki, a strong advocate for Bitcoin, said “criminal” that children were taught from a young age to work for an inflationary currency while debating Bitcoin’s virtues.
“Poor people are poor because they have no idea what the real money is. And so our academic system, you know, my poor dad, professor, indoctrinate and they train children, young people even today to work for fake money.”
“Go to school, get a job, work hard, save money, and invest in a 401 (k) filled with garbage,” Kiyosaki said during a Podcast Hosted by Bitcoin Collective co-founder Jordan Walker on Wednesday.
Kiyosaki has no blows as he is comparing to the central banks, equivalent to them in “criminal organizations” and even calling them “Marxists,” as he says that every time central banks print money, it makes it rich, while other economic classes suffer.
“So every time you print money, you print this fake thing here. People like me are richer, but the middle class is more difficult.”
According to the US Bureau of Labor Statistics’ Headline Inflation CalculatorA person holding $ 1,000 from August, 2000 to August, 2005 lost nearly 47% of their purchase power due to headline inflation.
The Federal Reserve sets a target of 2% inflation per year; However, since 2021, the agency has not managed to get inflation at that mark. August’s head inflation came at 2.9%, while the main inflation stood at 3.2%.
Meanwhile, BTC has rallied more than 900% in the last five years, from around $ 11.670 to approximately $ 117,200 at the time of writing, According to This coingecko.
Robert Kiyosaki wants him to have more than 60 bitcoin
The American May -set said he had long been to understand Bitcoin, but he started buying Bitcoin at $ 6,000 mark and currently holding 60 BTC, worth $ 7 million.
“And Bitcoin, when it came out, it took me a long time to know it. As I bought it $ 6,000, and I still say, ‘Why don’t you buy more, asshole?’ But now, I don’t have much.
Kiyosaki said he is now using the proceeds from his leases to accumulate oil, gold, silver, bitcoin and Ethereum.
In April, Kiyosaki predicted that bitcoin will reach $ 1 million milestone In the next decade.
Despite being bullish with BTC, Kiyosaki has Previously took a controversial view Over, it is said that “the odds are gold, silver, and the bitcoin will also go,” and that is when he starts gathering more of these possessions.
She is more Advised investors to be careful with ETFsbecause they are “paper -owned” and thus weak in a run run; However, the American -set admitted that ETFs are the easiest way for investors to invest in assets.
Countries suffering from inflation
Kiyosaki’s claims to the podcast have some merits. Inflation, especially hyperinflation, eliminates the power of buying ordinary people.
Interestingly, people in countries where inflation eat their hard-working money that turns to crypto to protect themselves with finance.
Related: Bitcoin’s role as an inflation hedge depends on where a person lives – analyst
Venezuela’s people started using stablecoins, especially tether (USDT), as part of their day -to -day life, as The annual inflation rate touched 229%.
At the start of the year, a US dollar can be exchanged for 51.95 Venezuelan Bolívar. Today, the same dollar can buy 161.74 Venezuelan Bolívar, According to In the foreign exchange processor xe.
Meanwhile, the Bitcoin -set standard said Saifean ammous that investors are Flock towards the US dollar and bitcoinAs he hopes that lowering Argentine peso will cause people to throw away the country’s money and bonds.
Vision and CEO’s real co-founder Raoul Pal also call investors to hold more crypto and NFTs in Protect themselves from exponential currency debasement.
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