Robert Kiyosaki, the financial guru behind the bestselling book “Rich Dad Poor Dad,” has issued a new warning to his followers, urging them to prioritize the leading cryptocurrency Bitcoin and other tangible assets in the face of rising inflation. Kiyosaki’s message comes on the heels of a recent statement from US Federal Reserve Chairman Jerome Powell, who acknowledged that inflation continues at elevated levels and that easing is unlikely anytime soon.

Kiyosaki reveals he’s hoarding Bitcoin, the leading cryptocurrency

Kiyosaki, known for his outspoken views on conventional finance, analyzed Powell’s statement on his social media platform. He argues that Powell’s admission effectively negates previous reassurances about “temporary inflation,” a concept that Kiyosaki believes most people do not understand the true implications of. In his distinctive style, Kiyosaki argues that Powell’s words essentially mean “we’re screwed”.

Kiyosaki emphasizes his long-held belief that “savers are losers” because of inflation. He points out that since the Fed’s inception in 1913, the US dollar has lost a staggering 95% of its purchasing power. According to Kiyosaki, this stark reality underscores the importance of alternative assets as potential hedges against inflation. Following Powell’s statement, Kiyosaki reiterated his strong advocacy for “real gold, silver and Bitcoin”. He positions these assets as a means of “saving real money” and urges his 2.1 million followers to “wake up and take control of your money and information.”

Kiyosaki’s predictions spark controversy

This is not the first time Kiyosaki has expressed bullish expectations about Bitcoin. Cryptocoin.com as we reported earlier in the week, cited the predictions of financial analyst Harry Dent, who predicted a significant economic downturn. Specifically, Dent predicts an 80% drop in the S&P 500 index and a dramatic drop for Bitcoin, potentially as low as $200 per cryptocurrency. Interestingly, Kiyosaki seems unimpressed by this possibility. He stated that a major price collapse in Bitcoin would only present a golden buying opportunity and that he intends to accumulate more money if the price drops significantly.

Kiyosaki’s stance has sparked controversy in the financial community. Critics point to Bitcoin’s inherent volatility, questioning its reliability as a store of value. But Kiyosaki’s supporters see him as a forward-thinking investor who recognized Bitcoin’s potential early on. They believe his latest message serves as an important reminder to prepare for potential economic turbulence by diversifying investments beyond traditional assets.

It is worth noting that Kiyosaki has a history of making bold predictions. Although not always accurate, some believe he foreshadowed the 2008 financial crisis with warnings about the housing market bubble. Whether his current predictions about inflation and Bitcoin will come true remains to be seen. But his unwavering belief in Bitcoin and his emphasis on hedging against inflation has undoubtedly resonated with a significant portion of the investment community.