Renowned Author Robert Kiyosaki Reiterates Belief in Cryptocurrencies as the Future of Money
Robert Kiyosaki, the well-known author of the personal finance book ‘Rich Dad, Poor Dad,’ has once again expressed his conviction that traditional fiat currencies are becoming obsolete, while cryptocurrencies are poised to become the future of money.
Kiyosaki’s endorsement of cryptocurrencies has been a recurring theme in his public statements, and his recent comments on social media have reignited the debate on the future of money.
During the TOKEN2049 conference, one of the largest annual gatherings for crypto enthusiasts and experts, Kiyosaki took to the social media platform X to share his thoughts. He tweeted, “In Singapore at the same time massive crypto conference is on. Very exciting. Crypto is the future. Fiat…a.k.a. FAKE money is toast.”
In Singapore at same time massive crypto conference is on. Very exciting. Crypto is the future. Fiat…a.k.a. FAKE money is toast.
— Robert Kiyosaki (@theRealKiyosaki) September 17, 2023
Robert Kiyosaki’s Unwavering Support for Crypto
In his post, Kiyosaki declared, “Crypto is the future,” and referred to fiat currency as “FAKE money” that is destined to become obsolete. This strong language underscores his belief in the imminent shift towards cryptocurrencies as the primary medium of exchange.
Kiyosaki has openly admitted to owning Bitcoin (BTC) and views cryptocurrencies as a crucial hedge against the devaluation of traditional currencies caused by factors such as inflation and government monetary policies. He points to Bitcoin’s resilience and its ability to bounce back after market downturns as evidence of its enduring presence in the financial landscape.
Total crypto market cap at $1.04 trillion today: TradingView.com
State of the Crypto Market
While Kiyosaki’s proclamations on cryptocurrencies may resonate with many, the crypto market is currently facing its own set of challenges. The liquidation of FTX, a major cryptocurrency exchange, has put pressure on the market. FTX has announced plans to divest its crypto assets totaling a staggering $3.4 billion by the end of 2023.
FTX’s crypto holdings primarily consist of Solana, Bitcoin, and Ether, among others. To mitigate potential negative impacts on crypto prices, FTX has imposed a weekly cap of $100 million on its asset sales. However, the exchange has left the door open for this limit to increase to $200 million, pending approval from two committees representing FTX customers.
This development in the crypto market highlights the inherent volatility and uncertainties associated with cryptocurrencies. While enthusiasts like Robert Kiyosaki see them as the future of money, the market’s evolution remains a subject of ongoing debate, influenced by factors such as regulatory changes, market sentiment, and technological advancements.
Kiyosaki’s unwavering support for cryptocurrencies as the future of money continues to make waves in the financial world. However, the current challenges faced by the crypto market emphasize the need for a cautious and balanced approach to navigating this rapidly evolving landscape.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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