‘Rich Dad’ R. Kiyosaki lauds Bitcoin for ‘kicking the fake US dollar’s butt’
One of the biggest and most vocal bulls for Bitcoin (BTC) and commodities like gold and silver, and one of the biggest and most vocal bears for other traditional investments and – even more notably – conventional money, has for years been Robert Kiyosaki, a prominent investor and author of the best-selling personal finance book “Rich Dad Poor Dad.”
This year, Bitcoin has given Kiyosaki many reasons to celebrate and at few points as much as on February 28 when the world’s foremost cryptocurrency continued its rapid surge – started only days earlier – and crossed the $60,000 threshold for the first time since 2021.
Indeed, the “Rich Dad Poor Dad” author took to X to celebrate the 5-day, $11,000 Bitcoin climb by thanking the coin for doing what he describes as its job – for ‘kicking the fake US dollar’s butt.’
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Kiyosaki praises Bitcoin for ‘bringing integrity back to money’
In the same post, Kiyosaki also expressed his happiness that Bitcoin is – in his opinion – returning integrity to money.
Along with many others, Kiyosaki is a harsh critic of the monetary system created by the abandoning of the Bretton Woods agreement in 1971 – an event that ended the long-standing practice of having national currencies be backed by hard assets like gold – and has been calling money arising from the current practices “fake.”
Bitcoin, on the other hand, is considered by the post-Bretton Woods world critics to be a better option as it has a finite supply and is, in some ways, backed by.
Still, it is noteworthy that not all economists believe that the Bretton Woods system was better, nor do all the current system’s critics believe a return to the gold standard would be the right move.
Bitcoin price chart
While the debate on Bitcoin’s use as a better form of money is ongoing and can, in earnest, only be proven upon broader adoption, it is indisputable that the cryptocurrency has been doing exceptionally well in recent months.
Already in the final quarter of 2023, BTC entered into a significant rally and the coin is 164.79% in the green in the last 52 weeks.
In 2024, Bitcoin has been doing equally well – barring a short yet significant drop that affected the entire crypto market in the wake of the approval of the U.S.’ first-ever spot BTC exchange-traded funds (ETFs) – and is up 41.66%.
Still, arguably, the most impressive and exciting development occurred in the period that started on February 26, as it saw Bitcoin surge more than $10,000 – 21.34% in a mere 5 days.
The last 24 hours of trading also offer no hint of a slowdown for the world’s foremost cryptocurrency as Bitcoin price today increased another 5.96% – $3,527 – in the time frame.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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