Robert Kiyosaki, author of best-selling motivational literature "Rich Dad, Poor Dad," continues to advocate Bitcoin (BTC) as an important part of a diversified financial strategy. In a latest post, Kiyosaki outlined the importance of preparing for economic uncertainty by investing in assets outside the traditional financial system.
Kiyosaki's insights draw attention to the different nature of panics in capital markets versus those in banking. According to him, while market crashes in stocks, bonds, or real estate are obvious to most, banking crises can occur without public awareness. This hidden risk is only partially mitigated by FDIC insurance, which covers deposits up to $250,000.
However, Kiyosaki questions the safety of relying solely on this protection and urges individuals to consider alternatives such as gold, silver and Bitcoin.
Robert Kiyosaki and Bitcoin
The author's view on cryptocurrency has changed a lot over the years. He used to see cryptocurrency as nothing more than a gamble, but now he sees it as a store of value, up there with gold and silver.
Kiyosaki thinks the current financial system is "corrupt" and getting more vulnerable. That's why it is a good idea to hold tangible assets that are less likely to fail, the writer is convinced.
The bestselling author also thinks that Bitcoin could be worth a lot in the future — even up to $1,000,000. By promoting BTC, gold and silver, Kiyosaki encourages people to protect their wealth from the risks of traditional banking and to prepare for possible economic downturns.