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Robert Kiyosaki, an investor, entrepreneur, and author of “Rich Dad Poor Dad” has recently endorsed Bitcoin. He highlighted the value of Bitcoin over what he called the fake money systems.
Kiyosaki shared his views on the X platform regarding the current situation of the U.S. dollar. He argues that the country left the gold standard in 1971. Saying that after that, the US Federal Reserve and Treasury started “counterfeiting money.”
He illustrates his view on value creation and what money is by sharing how as a child he was able to make coins from toothpaste tubes. His commentary comes at a time when financial literacy is virtually ignored in the conventional structures of learning institutions. He stated,
“The problem is, due to our schools not teaching anything about money or taxes….90% of the people today work for and save counterfeit money.”
Additionally, the “Rich Dad Poor Dad” author claimed that one of the main reasons for the widening wealth gap is that people are earning “fake money.”
MONEY is an interesting subject. Everyone in the modern world uses money…regardless if they earn the money or not.
— Robert Kiyosaki (@theRealKiyosaki) July 28, 2024
If you are born into a rich family…you may be lucky….yet history shows many family fortunes are gone by the third generation.
I began studying money when I…
Bitcoin’s Potential Amid Economic Shifts
Following his endorsement of Bitcoin, Kiyosaki is confident that the cryptocurrency will skyrocket. He believes that BTC could even rise to $105,000 by August. Kiyosaki suggests that the economic measures taken by Trump can positively affect the asset classes including Bitcoin, Gold, and Silver.
He notes that Donald Trump’s plan to devalue the dollar would increase the value of exports, improving the economy. This could potentially increase the value of these assets as hedges against inflation.
His advocacy for Bitcoin and other valuable assets is presented as insurance against what he perceives as the diminishing trustworthiness of fiat currencies.
At the time of writing, Bitcoin has experienced a relatively minor 1% loss and is being traded at $67,297 close to the $70,000 resistance level. This is, however, an 11% rise within the month attributed to the general market trends following major political and market developments.
TRON Founder’s Bitcoin Appeal to Elon Musk
In related news, TRON founder Justin Sun has recently gained attention as he requested Elon Musk to bring back the Bitcoin emoji on X to emphasize the platform’s importance in crypto discussions.
Sun’s request points to Musk’s influential status within the crypto community and his previous endorsements of various digital currencies.
The #Bitcoin emoji has disappeared on @X , a tradition for the Bitcoin community. @elonmusk, yesterday, President Trump mentioned Bitcoin's market value could surpass gold. We humbly request restoring this tradition and are willing to accommodate any requirements.🙏
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 28, 2024
Justin also elaborated on how this symbol remains relevant to Bitcoin advocacy and participation in the X platform. He stated confidence with the restoration mentioning that Elon is well familiar with the Bitcoin community.
The current debates concerning Bitcoin and its possibility to become a currency of the future show that the world is gradually turning to digital currencies. More investors and political figures are exploring cryptocurrencies as both investments and alternatives to traditional money.