“Rich Dad” R. Kiyosaki

Robert Kiyosaki, the best-selling author of the personal finance book “Rich Dad Poor Dad,” has reiterated his prediction of doom for the United States dollar and praised Bitcoin (BTC) as a substitute for the next summit of the BRICS (Brazil, Russia, India, China, and South Africa) nations approaches.

In a podcast episode that was broadcast on August 2, the renowned investor specifically discussed the depreciation of the USD and the function of Bitcoin in today’s financial environment with co-founders of the educational platforms Cultivate Crypto and Doghouse Crypto, Miguel Munoz and Charlie Engler.

Bitcoin vs. fake currency

The biggest fake thing is the US dollar, says Kiyosaki (Rich Dad), and that is why “poor people are poor because they don’t know real money from fake money.” He also acknowledged that he wasn’t always enthused about Bitcoin and that, looking back, he wished he had purchased more. As he clarified:

“I own 60 BTC. I know nothing beyond that, I bought them at $6,000 each (….), and the reason I bought them is not because I’m a crypto expert. I’m a trader (….), and when Bitcoin first hit a high of about $20,000 and retraced back down to $100, I said, ‘ah, it’s gone,’ but when it kept coming back and hit $6,000, I said, ‘I think it’s here to stay.’”

Additionally, he praised the cryptocurrency sector and Bitcoin in particular as the “biggest hedge against criminal money,” highlighting its significance in light of “one of the biggest changes in world history” that he predicts will occur on August 22 in Johannesburg, i.e., the next BRICS meeting.

He believes that during this summit, the BRICS countries will “get behind the cryptocurrency backed by gold,” in which case the “US dollar is toast.” He also believes that Saudi Arabia, Mexico, and Japan may join them in this.

De-dollarization

As a matter of fact, Kiyosaki recently expressed his belief that the BRICS summit in August will herald the start of the “de-dollarization” of the world as “approximately 41 nations, possibly even France,” would “gang up” against the US fiat currency.

As the finance educator previously stated, one way to safeguard oneself from the effects of the impending massive crash that will, in his opinion, “put (the) nail in (the) coffin of fiat money,” is to invest in gold, silver, and the flagship decentralised finance (DeFi) asset, according to Finbold.

As the US prepares for a “crash landing” and an “economic tsunami” as the USD loses its status as the world’s reserve currency, he has also stated his belief that Bitcoin is the “best insurance against high corruption and incompetence” in the government, which he believes is rising in the US.

He also predicted that the first digital asset would cost $120,000 in 2024 as the US dollar “dies” following the BRICS summit and “trillions of US $ rush home, bringing [inflation] through the roof,” as Finbold reported on July 11.

Watch the entire video below:

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