R. Kiyosaki reveals Gold vs. Bitcoin is a smokescreen 
Cryptocurrency Nov 29, 2024 Share
On Thanksgiving evening, the prominent investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki, shared his thoughts about why the debate between those favoring Bitcoin (BTC) and those favoring gold is little more than a smokescreen.
WHO CARES? I watch in amusement as so called “experts” debate Gold vs Bitcoin. I was fortunate enough to realized “We The People” were being “F’d” by our own government in 1965.
Specifically, he said he finds much amusement in high-level arguments on the merits – or lack thereof – among scholars and those at the helm of institutions such as the U.S. Treasury.
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Kiyosaki compared these individuals to his ‘Poor Dad’ and jokingly said he generally views the PhD abbreviation as standing for ‘Poor Helpless and Desperate,’ not ‘Doctor of Philosophy.’
WHO CARES? I watch in amusement as so called “experts” debate Gold vs Bitcoin. I was fortunate enough to realized “We The People” were being “F’d” by our own government in 1965.
In 1965, when I was 18 years old, I could see “copper” on the edge of our “silver” coins. Only 18…
— Robert Kiyosaki (@theRealKiyosaki) November 28, 2024
Robert Kiyosaki explains why Bitcoin vs Gold argument is a smokescreen
At its core, Robert Kiyosaki’s argument appears centered on the notion that actions speak louder than words and that ‘PhDs’ will stay poor – and perhaps even keep the masses poor – while taking action – investing and engaging in dollar-cost-averaging – will generate positive results.
You may not get rich quick… but I promise you this…regardless of what coin you choose….gold, silver, or Bitcoin….the first thing that will happen to you is you will get smarter and your financial wealth will grow as your financial wisdom grows.
The famous author also reflected on his life journey and explained that he started believing the government was misleading and sabotaging the people in 1965 when he noticed that silver coins were debased by the inclusion of copper.
In the same post, Kiyosaki also offered more context into his distinction between the fake and bad money – the US dollar – and the good, the ‘people’s,’ and ‘God’s’ money – gold and Bitcoin.
In 1965, when I was 18 years old, I could see “copper” on the edge of our “silver” coins. Only 18 at the time, I did not realize Gresham’s Law was talking to me. … In 1965 I began hiding real money…a little at the time. Today I literally own tons of gold and silver because I eventually began buying my gold and silver mines in 1985. And I save Bitcoin.
R. Kiyosaki reveals why USD is fake money
Specifically, he stated they are all expressions of Gresham’s Law, a principle he explained as ‘when fake money enters the system, real money goes into hiding.’
Sir Thomas Gresham (1519–1579) indeed believed that if multiple recognized currencies existed, the worse one would start pushing the better one out of circulation.
As the Elizabethan financier was interested in ending the debasement of the English currency, it is evident the ‘worse’ is the alloyed and impure one.
In a nutshell, he believed that good money should have a face value roughly equal to the underlying commodity value.
Neither Gresham nor Kiyosaki offered much insight, however, into where a currency that is almost exclusively a commodity or a commodity that, when applied for the making of a currency, tends to generate an object worth more than both the face and asset value falls on the ‘good money-bad money’ scale.
Rober Kiyosaki proposes a solution to the Bitcoin vs. Gold argument
The rest of the prominent investor’s post aligns with his earlier expressed stances. Indeed, he has repeatedly stated that he does not partake in the Bitcoin vs gold squabbles and favors both assets – unlike some prominent economists such as Peter Schiff.
Kiyosaki has also been an advocate of investing, urging his followers not to waste money by saving in ‘fake’ currencies like the U.S. dollar but to enter the markets and enjoy their fruits.
Furthermore, the famous author’s asset picks – Bitcoin, gold, silver, Ethereum (ETH), Solana (SOL), real estate, and wagyu cattle – have all been doing well and, as on November 29, 2024, listening to the finance guru’s advice would have been highly profitable.
Indeed, looking at Kiyosaki’s primary recommendations, BTC has risen 127.88% year-to-date even after its most recent volatility and is at press time priced at $96,620. Gold is in a similar situation and even with the November struggles, the precious metal stands at $2,664 after a 29.11% surge since the start of 2024.
BTC and Gold YTD price charts. Source: Finbold & TradingView
Finally, it is worth pointing out that following Kiyosaki’s advice on assets like Bitcoin would not have always been a good idea – for example, buying in 2021 would not have appeared savvy in late 2022, and the situation may become similar again in 2025 or 2026.
Featured image via The Rich Dad Channel YouTube