- Personal finance guru Robert Kiyosaki thinks money is trash, while touting bitcoin, silver and gold as “real money”.
- “To me gold, silver and bitcoin are real money. To me, silver is trash,” the “Rich Dad Poor Dad” author tweeted.
- His view contrasts with that of market pundits who no longer believe cash is a bad investment, given today’s high yields.
Robert Kiyosaki touted the slogan “money is trash” – and instead endorsed bitcoin, silver and gold as “real money”.
“GOLD to CRASH. Steve Van Meter, whom I respect, predicts gold will crash to $1,000. He says markets are tired of waiting for gold to go up. If gold falls to $1,000 $, I’ll buy more. I’m an investor, not a trader. To me, gold, silver and bitcoin are real money. To me, silver is trash,” said the personal finance guru in a monday tweet.
The famed ‘Rich Dad Poor Dad’ author has flip-flopped on his views on bitcoin, silver and gold, once slamming the world’s biggest cryptocurrency as speculative game. Now he “likes” the token because of its decentralized qualities, which means that it is not controlled by an external body compared to the American financial system – currently in turmoil, Kiyosaki said in a previous tweet.
He even promoted before tuna as a better investment than gold, silver and bitcoin as US inflation hit its highest level in 40 years last year.
Kiyosaki’s “cash is trash” statement clashes with recent views from other market pundits, including Ray Dalio and Wall Street analyst Jim Bianco, who have warmed to lofty greenback yields following aggressive increases Federal Reserve interest rates over the past year aimed at taming inflation.
Rising rates encourage saving relative to spending because it increases returns on bank accounts and other interest-bearing financial instruments such as money market funds. But high borrowing costs can also lead to a drop in demand for goods and services, which slows the economy and drives down stocks and other assets.