Robert Kiyosaki, author of the famous book “Rich Dad Poor Dad,” has advocated for a so-called “Bitcoin standard.” He advocates for a system in which everyone, not just the rich, has access to an affordable life.
Kiyosaki praises Bitcoin for its limited supply and criticizes the US Federal Reserve, which he says is printing “counterfeit dollars.”
“I vote for the Bitcoin standard”
Kiyosaki explains that the amount of money available has a direct impact on the prices and availability of products and food. When money becomes abundant through excessive printing, it loses value. This leads to rising prices for basic needs and makes life more expensive, especially for lower-income people.
In contrast, money retains its value when supply is limited, as is the case with Bitcoin, which has a maximum cap of 21 million coins. According to Kiyosaki, this ensures long-term stability and affordability. Therefore, he supports the “Bitcoin Standard,” which he believes can contribute to a fairer distribution of resources and a more stable economic system.
“I support the Bitcoin standard because I believe in a life of abundance and affordability for all, not just the rich,” Kiyosaki wrote in a recent tweet. This idea contrasts with fiat currencies, which can be printed indefinitely by central banks, reducing purchasing power.
When money is abundant….then products of life …. Become plentiful and inexpensive.
That is why I love Bitcoin and life.
When money becomes scarce and expensive….so does the price of life and the abundances of life.
I support the Bitcoin Standard of life…. Because I…
— Robert Kiyosaki (@theRealKiyosaki) November 2, 2024
Criticism of the Federal Reserve and the “false dollar”
Kiyosaki has repeatedly voiced sharp criticism of the Federal Reserve, which he says is undermining the value of the U.S. dollar by constantly printing new dollars. He calls these dollars “counterfeit” because he believes they have no intrinsic value.
Unlike fiat currencies, he praises Bitcoin for its limited supply of 21 million coins and its deflationary properties, such as the halving mechanics. The most recent halving, which took place in April, reduced the reward for miners from 6.25 to 3,125 BTC, further increasing Bitcoin’s scarcity.
Bitcoin as an alternative to fiat and ETFs
Despite his enthusiasm for Bitcoin, Kiyosaki emphasizes that he has no interest in Bitcoin ETFs; he prefers to buy the coin himself. In his opinion, direct ownership is the only way to fully realize the benefits of Bitcoin as a scarce commodity. The crypto community responded enthusiastically to his news, with various supporters advocating for a “Bitcoin standard” as an alternative to the current monetary system. for a “Bitcoin Standard” as an alternative for the high monetary system.
