‘Rich Dad Poor Dad’ Author Urges Investors to Switch to Bitcoin

Financial educator and author of the bestselling book “Rich Dad Poor Dad,” Robert Kiyosaki, recently spoke to X (formerly Twitter) to share his thoughts on inflation and its effects on different economic classes.

In his article, Kiyosaki highlighted the disparity between the impact of inflation on the poor and middle class compared to the rich.

He believes that the first group is becoming poorer due to their dependence on the dollar, while the rich, who prioritize assets like gold, silver and gold. Bitcoin become richer.

Recent Inflation Updates

American inflation showed signs a slight decrease, with consumer price increases slowly declining. As of October 12, consumer prices in September increased by 0.4% compared to the 0.6% increase in August. However, the year-on-year inflation rate remained stable at 3.7%. If we focus on core prices, which exclude volatile costs like food and energy, there was an increase of 4.1% compared to the previous year, a decrease compared to the pace of 4.3% observed in August. This is the lowest increase observed in two years.

Despite these changes, monthly price increases still exceed the Federal Reserve’s 2% target. Experts believe that these inflation figures will not significantly influence the Federal Reserve’s outlook, given that a gradual decline in inflation was already expected.

Additionally, Austan Goolsbee, president of the Chicago Fed, expressed confidence in the downward trend in inflation, suggesting that the current situation is not just a passing anomaly.

The ongoing debate among Federal Reserve officials is whether further adjustments to the policy rate will be necessary this year.

Kiyosaki’s Recent Bitcoin Holds

This isn’t the first time Kiyosaki has used his platform to shine a spotlight on Bitcoin in the past month. In a series of articles throughout September, he provided an overview of hyperinflation, emphasizing that it leads to a decline in the purchasing power of money. He urged his followers to invest in assets like gold, silver and Bitcoin.

In another message, Kiyosaki warned of the imminent arrival of central bank digital currencies (CBDC) and the potential privacy issues associated with it. He suggested that traditional assets and liquidity could become invaluable once CBDCs dominate the market.

Not all of his Bitcoin takes are bullish. As reported by U.Today Kiyosaki commented on Citibank’s announcement to offer blockchain technology to turn institutional savings into tokens for rapid cross-border transactions, raising questions about the future of Bitcoin and the US dollar.

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