Robert Kiyosaki, millionaire and author of the Rich Dad, Poor Dad series of books, has reaffirmed his pro-Bitcoin stance in a YouTube video on why the dollar is dying. In the video, Kiyosaki decries the action of the Federal Reserve, who he says are “destroying our money”, and praises Bitcoin and Ethereum, which he says can help investors “bypass the system”.
The Dollar is Dying
Kiyosaki, who made his fortune in real estate, first began discussing Bitcoin in earnest in 2014 after ignoring it when he first came across it in 2009 due to his lack of understanding. He has since continuously talked it up as a potential answer to the devaluation of the dollar by the Federal Reserve, along with silver and gold, and recently released a 15-minute YouTube video to explain why he thinks the dollar is dying.
In the video he describes how cash is “a figment of your imagination” and that the entire monetary system is created by and for ‘Grunch’, a term coined by R. Buckminester Fuller in 1983 to describe the governments and corporate titans of the world that control the flow of money, adding why holding Bitcoin is a better option than holding cash:
Bitcoin is people’s money. It’s an open source system. And the reason I recommend Bitcoin is because it gets me out of Grunch. So I don’t have to go through the Fed – Bitcoin just bypasses all those guys […] Bitcoin, Ethereum, blockchain and all that – they bypass the system.
Kiyosaki Lays in the Fed
Kiyosaki has been a longtime advocate of storing wealth in non-currency formats, often harking back to the removal of the US dollar from the gold standard in 1971 as the beginning of the end for the dollar. He refers to this pivotal moment again in the video, giving a scathing critique of the Federal Reserve:
The Fed is 900 PhDs who have no idea what they’re talking about, they don’t know what they’re doing, because they work for GRUNCH. But they’re destroying our money.
Kiyosaki’s opinion makes a nice change from his generational contemporaries, who often slate Bitcoin using outdated or just plain inaccurate reasons. His informed opinion illustrates that Kiyosaki is one of the few of the baby boomer generation who has taken the opportunity to actually learn about Bitcoin and realize it’s potential.