Robert Kiyosaki Weighs in on Bitcoin vs. U.S. Dollar: Which is the Real Scam?

Key Points

• Robert Kiyosaki, author of “Rich Dad Poor Dad,” criticizes the U.S. dollar and the banking system, referring to them as bigger scams than Bitcoin.
• Kiyosaki warns against Bitcoin ETFs and advises direct investment in tangible assets like gold, silver, and Bitcoin.

Robert Kiyosaki, renowned for his book “Rich Dad Poor Dad,” has once again expressed his distrust of the U.S. financial system. He labeled the dollar as a bigger scam than Bitcoin (BTC).

In a recent social media post, he castigated the Federal Reserve and major banks. He accused them of corruption and reckless mismanagement.

Robert Kiyosaki’s View on Bitcoin

Kiyosaki, a long-time advocate for alternative assets like Bitcoin and gold, referred to central bankers as “banksters.” He claimed that despite massive financial losses, they continue to receive government bailouts.

He further criticized the Federal Reserve and the banking sector for manipulating the financial system for their own benefit. He suggested that ordinary citizens are the ones who suffer the consequences.

Bitcoin ETFs: A Potential Scam?

Kiyosaki also expressed skepticism towards Bitcoin ETFs. He warned that these are controlled by the same financial institutions he distrusts.

He suggested that these ETFs could allow banks to manipulate Bitcoin’s value. This could limit investors’ control over their assets.

Instead, he recommended investing directly in tangible assets like gold, silver, and Bitcoin. He advised against relying on financial products managed by traditional institutions.

Kiyosaki’s comments were made as Bitcoin experienced a downturn. It briefly dropped to $78,000 before rebounding to $85,975.16. This marked a modest 0.96% gain in the past 24 hours, according to CoinMarketCap.

Meanwhile, the BTC ETF market, which had been struggling with outflows since the 18th of February, saw a significant turnaround on the 28th of February. It recorded $94.3 million in inflows, as reported by Farside Investors.

Despite the market trends, Kiyosaki has remained steadfast in his confidence in Bitcoin. He has previously reinforced his stance on Bitcoin during economic downturns.