Renowned Bitcoin advocate Robert Kiyosaki, the podcast host and investment expert celebrated for his iconic work “Rich Dad Poor Dad” addressing personal finance management, recently expressed his concerns about the escalating inflation in the United States via the X social media platform.
Kiyosaki conveyed his astonishment at the rapid and substantial surge in prices triggered by the prevailing inflation. Despite feeling financially secure with substantial resources for personal and business support, he empathizes with those unable to afford his suggested strategy of investing in Bitcoin due to financial constraints.
Attributing the current economic predicament to the U.S. government, Federal Reserve, and Treasury, Kiyosaki has been consistent in criticizing the Federal Reserve for excessive U.S. dollar printing, labeling it as “fake money.” He consistently hails Bitcoin as the “People’s money,” highlighting its scarcity compared to the continuously printed U.S. dollars.
Recently, Kiyosaki has also scrutinized financial authorities for the rapid increase in the U.S. national debt, especially after the removal of the debt ceiling, surpassing $31 trillion. Expressing concerns about potential hyperinflation in the United States, he draws parallels with historical instances such as Germany a century ago and Zimbabwe, urging vigilance and preparation for similar economic challenges.
Despite the official prediction at the beginning of the year anticipating a decline in U.S. inflation to 3.7% after last year’s peak of 6.2%, the inflation rate in October 2023 stood at 3.3%, a slight reduction from August and September’s 3.7%.
Kiyosaki remains steadfast in his belief that Bitcoin, gold, and silver stand out as the optimal investment assets regardless of the economic scenario. As of the latest update, Bitcoin is trading at $37,490. Looking ahead, with the scheduled Bitcoin halving in April-May next year, experts foresee a potential surge, with some predicting a sixfold increase, potentially reaching $220,000.