Robert Kiyosaki, the famous author of Rich Dad Poor Dad, took to X (Twitter) on January 1st to respond to criticism of Bitcoin made by legendary investors Warren Buffett and Charlie Munger. Buffett and Munger, long-time critics of Bitcoin, have dismissed the cryptocurrency as “rat droppings.”
However, Kiyosaki, known for his bold investment advice, responded by questioning why he should care about the opinions of two wealthy, elderly men about Bitcoin.
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Bitcoin Made Me Rich, Says Kiyosaki
In his post, Kiyosaki acknowledges Buffett and Munger’s experience and wealth but asserts that Bitcoin is an asset he believes in, stating, “I agree with Buffett and Munger when they advise all investors ‘To know, study, and understand what you invest in.”
Kiyosaki highlights that he too values learning from those smarter than him, especially when it comes to Bitcoin. He also reveals that Bitcoin, along with real estate, gold, and silver, has played a significant role in building his wealth. Kiyosaki ended his post with a question to his followers: “What’s your plan?” reinforcing his belief in Bitcoin’s potential.
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This latest post from Kiyosaki follows his previous advice to his followers, urging them to “Buy one Satoshi, Get rich.” This statement came during a time when Bitcoin had been holding steady in its trading but had not shown the explosive growth that some had anticipated.
Kiyosaki’s endorsement of Bitcoin is not new, as he has been a vocal supporter of the cryptocurrency for some time. His advice resonates with those who see Bitcoin as a hedge against inflation and a store of value, especially in the face of uncertain economic conditions.
Kiyosaki also took the opportunity to praise Michael Saylor, the CEO of MicroStrategy, for his bold strategy of using the company’s treasury and credit facilities to invest in Bitcoin.
Kiyosaki endorsed Saylor’s decision, asserting that the strategy has generated substantial returns for MicroStrategy, further solidifying Bitcoin’s legitimacy in the investment world.
Bitcoin’s Price Actions
As of the latest market data, Bitcoin is trading at $95,872.26, up by 2.75% in the last 24 hours. The global cryptocurrency market cap stands at $1.89 trillion, showing the continued importance of digital assets in the financial landscape.
However, Bitcoin’s 24-hour trading volume has seen a decline of more than 16%, indicating a slowdown in short-term trading activity. Despite this, Kiyosaki’s continued bullish stance on Bitcoin suggests that he believes the cryptocurrency’s long-term potential remains strong.
While Buffett and Munger continue to dismiss Bitcoin as a speculative asset, Kiyosaki and other prominent investors, like Saylor, see it as a key component of a diversified investment strategy. Kiyosaki’s message to his followers is clear: Bitcoin is here to stay, and its role in wealth-building is only beginning to gain recognition.
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