Robert Kiyosaki criticizes Warren Buffett for ignoring Bitcoin as a speculation and for propagating fake money investments like stocks and bonds.
The writer of Rich Dad Poor Dad, Robert Kiyosaki, sharply criticized recent statements by Buffett, according to which Bitcoin is just speculation.
Buffett, who is considered among the smartest investors in the world, had warned that Bitcoin may spiral to the ground, sweeping away most investors.
On X, Kiyosaki responded decisively, noting that Buffett has a blind spot as far as traditional financial assets are concerned.
Source – X
He emphasized how stocks, government bonds, and real estate, which Buffett is a passionate proponent of, are also associated with big risks, pointing to recent selloffs by the Japanese and Chinese central banks.
Kiyosaki clarified that Buffett thinks Bitcoin is gambling, but he still promotes what Kiyosaki describes as fake money, printed by the Federal Reserve, U.S. Treasury, and Wall Street.
Related reading: Bitcoin Price Prediction: Kiyosaki Stays Bullish on Bitcoin Despite Market Crash Fears
Why Kiyosaki Calls Bitcoin ‘People’s Money’
Kiyosaki does not trust government-supported assets and financial institutions. In contrast to Buffett, he puts his money into Bitcoin, Ethereum, gold, and silver since they cannot be printed or controlled by the government.
He refers to actual gold and silver as the money of God and cryptocurrencies such as Bitcoin as the money of people.
On the other hand, he refers to the Fed, government bonds, and Wall Street assets as fake money that drives inflation and rewards people of wealth at the cost of ordinary people.
He rejected investment vehicles like ETFs and REITs as fake paper money, and warned that putting money in these assets is the same as believing in printed, deflated money.
Kiyosaki claimed that people can no longer depend on paper houses or paper apples, but instead, encourage real or blockchain investments.
Kiyosaki’s Take on Financial Education and Trust
Kiyosaki identifies the lack of financial education in schools as the root cause of why most people blindly trust imperfect systems.
He related how he created the Cashflow Boardgame and authored *Rich Dad Poor Dad* to address this gap.
The main argument that he makes is that it is no point to save endless printed money, traditional fiat money, as it will lose its purchasing power against finite resources such as Bitcoin, which has a limited number of coins, 21 million.
The author pointed out his rejection of such fake ETFs in the short favor of real assets that cannot be manipulated or devalued by central banks or governments.
Kiyosaki stands against the wisdom of the day and demands a reassessment of what is true value in the economy today, the traditionalist outlook of Buffett being a stark contrast.