Robert Kiyosaki. Source: RichDad
Robert Kiyosaki – founder of Rich Global LLC and Rich Dad Company – recently told his followers to invest in Ethereum before “the biggest crash in history.” Thus, the author of the best-selling book Rich Dad Poor Dad added ETH to BTC, gold, and silver as his most-preferrable investment instruments.
The multi-millionaire businessman and author issued his warning earlier this week on Twitter. He made an extremely pessimistic forecast for global financial markets, given the current state of US politics and Evergrande’s debt.
“US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande– China’s biggest property developer with 800 projects in 200 cities– out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history. Take care.”
Kiyosaki is known for his aversion to fiat currencies due to their rampant inflation and his preference for stocks, real estate, and metals as a store of value. He welcomed Bitcoin among these a while ago and even considered buying more BTC during its most bearish point this year.
However, this marks one of the first times Kiyosaki has mentioned Ethereum as one of these safe-haven assets. Ethereum’s price tends to move more erratically than Bitcoin in the short term. However, it has generally followed the primary cryptocurrency’s movements across time.
For Kiyosaki, the particular asset class he invests in is almost irrelevant. His wish is simply to avoid the collapse of fiat and the traditional monetary system, which he sees as inevitable.
He aired his feelings on this matter in March, during a Defi-focused episode of his podcast. He also said that he was personally invested in Ethereum.
“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’
Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”