Robert Kiyosaki, the renowned author of personal financial books, has backed Bitcoin, the digital currency that has disrupted traditional finance.
Kiyosaki has recommended people to think about expanding their Bitcoin (BTC) holdings as a potential hedge against economic volatility in a cautionary story about government bailouts.
In response to concerns about the future of fiat currency, Kiyosaki, known for his book “Rich Dad Poor Dad,” has recommended his followers to invest in cryptocurrencies.
The crash landing
He has reiterated his earlier warnings of a coming “crash landing” and recommended everyone to acquire more Bitcoin, gold, and silver as an alternative in light of the recent failure of three significant U.S. banks: Signature Bank, Silicon Valley Bank, and Silvergate Bank.
To be more explicit, Kiyosaki warned in a Twitter post that “more bogus money” would “invade sick economy” as bailouts were begun in answer to the enormous crisis in the financial industry.
Bitcoin as an alternative to banks
Bitcoin, Ethereum, and Litecoin are three cryptocurrencies that the author has openly backed.
According to Kiyosaki, cryptocurrencies have the ability to upend established financial structures and offer a decentralized substitute for fiat money.
In numerous interviews and tweets, Kiyosaki has praised Bitcoin and other cryptocurrencies and encouraged his followers to buy them as a means to diversify their portfolios and protect against inflation.
Additionally, he has cautioned his followers about the risks of relying too much on fiat money and the importance of diversifying their investment portfolios.
About Kumo
Kumo, registered as Kumo Technologies Inc in Delaware, U.S. is a fiat and crypto social payment app which allows users to exchange fiat (NGN) to crypto, save and earn interest in dollar with as low as $5, utility payment such as DSTV subscription, airtime, data among others.
Kumo wallet is your all-in-one social payment app for seamless payment solutions.
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