Robert Kiyosaki, author of the best-selling book “Rich Dad, Poor Dad,” has pointed to declining financial health as the reason behind the recent surge in cryptocurrencies such as Bitcoin and precious metals.
He believes that the poor financial health of the US, which has affected the poor and impoverished the middle class, is driving demand for alternative investments such as Bitcoin.
Kiyosaki has been advocating for investments in Bitcoin and gold, saying they offer a cushion in case of a financial crash.
He thinks Bitcoin will be the only cryptocurrency to survive due to regulatory backing and classifying it as a commodity.
The author believes that the global economy is already in a recession and points to the Federal Reserve’s inability to handle the inflationary situation. He advises investors to avoid paper money and invest in gold.