In a recent episode of the popular podcast “The Rich Dad Channel,” Robert Kiyosakiauthor of the popular book “Rich Dad Poor Dad,” specifically defended cryptocurrency investments Ethereum And Bitcoin. The financial expert highlighted the declining value of the US Dollar (USD), highlighting the possibility of a crisis emerging Market crash.
Ethereum acts as a hedge against currency depreciation
During the podcast, he spoke with Andy Schechtman, President and Owner of Miles Franklin Precious Metals, Kiyosaki discussion The importance of investing and saving in digital currencies, which suggests that cryptocurrencies can be a way Potential hedging against risks Associated with paper currencies, especially the US dollar.
The financial expert, who has been a long-time advocate of cryptocurrencies, has consistently encouraged investors to allocate funds to cryptocurrency assets in order to… Protect their wealth Against inflation and other economic conditions.
While admitting his limited understanding of Bitcoin, the world's largest cryptocurrency, Kiyosaki also expressed his support for it. EthereumIn addition to other precious metals such as gold and silver during his podcast. He believed that the decline in the value of the US dollar would deteriorate further over time The debt crisis worsened.
Furthermore, Kiyosaki revealed that he avoids saving his money in fiat currency, stressing that “the savers were losers.” In addition, he revealed that he started Bitcoin Rescue About 10 years ago and recently expanded to include Ethereum.
The financial expert reiterated his skepticism regarding this matter The credibility of the US dollarHe called it “fake” and called on the wider financial community to do so – Diversification of assets into tangible resources Such as gold and silver, in addition to digital currencies such as Ethereum and Bitcoin.
Furthermore, Kiyosaki stressed that there is no need for the cryptocurrency community to do so debate The relative value of Bitcoin on gold Or silver. He stressed that the crucial point is diversification into valuable assets that do not decline in value, such as the US dollar.
“Don't save money, counterfeit money (USD, Euro, Yen, Peso) depreciates in value. “Save gold, silver, Bitcoin and real money that increases in value, especially in case of a market crash.” advertiser In X's post (formerly Twitter).
Kiyosaki loses confidence in the US dollar
In the podcast, Kiyosaki announced that he had lost confidence in the US dollar, citing market weaknesses and crippling debt totaling trillions of dollars. Financial writer a statement In X's post in late April, the US economy was currently in a recession.
He revealed that the economy has witnessed substandard growth in recent years, with growth rates reaching only 3.4% and 1.6% in the fourth quarter of 2023 and the first quarter of 2024, respectively. Kiyosaki too He warned that the broader market collapse had begunHe stressed that “crashes are the best time to get rich,” and urged investors to take advantage of the opportunity by investing when prices reach their lowest levels.
ETH price makes its way above $3,000 | Source: ETHUSD on Tradingview.com
Featured image from Inside Bitcoins, chart from Tradingview.com