The Reason Behind Robert Kiyosaki's Bitcoin Holdings
Robert Kiyosaki, the renowned author of the best-selling book "Rich Dad Poor Dad," recently shared his rationale for owning bitcoin. In his book, co-authored with Sharon Lechter, Kiyosaki explores financial literacy and wealth-building strategies. The book has enjoyed tremendous success, with over 32 million copies sold in more than 109 countries and translated into 51 languages.
Kiyosaki took to social media platform X to express his thoughts:
"Why I own bitcoin. Bitcoin is protection against the theft of our wealth via our money."
He further explained that he believes the Federal Reserve, the government, and Wall Street bankers are responsible for stealing people's wealth through inflation, taxation, and stock price manipulation. To safeguard his wealth, Kiyosaki chooses to save and invest in bitcoin, considering it a better option than stocks, bonds, and what he calls "fake dollars."
Robert Kiyosaki's Warnings and Views on Money
Kiyosaki consistently voices his concerns about the negative impact of the Federal Reserve, the Biden administration, and Wall Street bankers on the U.S. economy, the U.S. dollar, and the American populace. He often refers to fiat money as "fake money" and warns about the impending demise of the U.S. dollar. In contrast, Kiyosaki considers bitcoin as "people's money," while he deems gold and silver as "God's money."
Last week, Kiyosaki criticized the U.S. court system, particularly expressing his disapproval of the judge presiding over former U.S. President Donald Trump's trial. He raised concerns about the judge's dual role as both a prosecutor and a judge, suggesting that it could lead to an unfair trial. Kiyosaki stated, "If the judge is prosecuting attorney and the presiding judge, then the judge presides over a Kangaroo Court. America is finished if our courts are for Kangaroos." In a subsequent post, after the judge awarded $83.3 million against Trump, the Rich Dad Poor Dad author reiterated his belief that the country is in a dire state.
Despite his strong advocacy for bitcoin, gold, and silver, Kiyosaki admitted during one of his Rich Dad podcast episodes that he has limited knowledge about bitcoin. However, he trusts the expertise of those involved in the industry and expressed gratitude for having made an early investment. Earlier this month, he even predicted that the price of bitcoin would reach $150,000 in the near future.
Share Your Thoughts
What are your thoughts on Robert Kiyosaki's statements regarding bitcoin? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
What does gold do as an investment?
The price of gold fluctuates based on supply and demand. Interest rates also have an impact on the price of gold.
Gold prices are volatile due to their limited supply. There is also a risk in owning gold, as you must store it somewhere.
What is a Precious Metal IRA and How Can You Benefit From It?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These precious metals are extremely rare and valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Precious metals often refer to themselves as “bullion.” Bullion refers only to the actual metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
A precious metal IRA lets you invest in bullion direct, instead of purchasing stock. This means you'll receive dividends every year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, you only pay a small percentage on your gains. Plus, you get free access to your funds whenever you want.
What Should Your IRA Include in Precious Metals?
You should remember that precious metals are not only for the wealthy. You don’t need to have a lot of money to invest. There are many methods to make money off of silver and gold investments.
You might also be interested in buying physical coins, such bullion rounds or bars. Stocks in companies that produce precious materials could be purchased. You might also want to use an IRA rollover program offered through your retirement plan provider.
You will still reap the benefits of owning precious metals, regardless of which option you choose. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
They also tend to appreciate over time, unlike traditional investments. If you decide to sell your investment, you will likely make more than with traditional investments.
What precious metals could you invest in to retire?
These precious metals are among the most attractive investments. They are both simple to purchase and sell, and they have been around for a long time. These are great options to diversify your portfolio.
Gold: One of the oldest forms of currency, gold, is one of mankind's most valuable. It's stable and safe. Because of this, it's considered a good way to preserve wealth during times of uncertainty.
Silver: Investors have always loved silver. It's a great option for those who want stability. Silver is more volatile than gold. It tends to rise rather than fall.
Platinum: A new form of precious metal, platinum is growing in popularity. It's durable and resists corrosion, just like gold and silver. It's however much more costly than any of its counterparts.
Rhodium: Rhodium can be used in catalytic convertors. It is also used in jewelry-making. It is also quite affordable compared with other types of precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also much more affordable. This is why it has become a favourite among investors looking for precious metals.
What precious metal should I invest in?
This question depends on how risky you are willing to take, and what return you want. Although gold has been considered a safe investment, it is not always the most lucrative. You might not want to invest in gold if you're looking for quick returns. If you have the patience to wait, then you might consider investing in silver.
If you're not looking to make quick money, gold is probably your best choice. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's Not Exactly Legal – WSJ
investopedia.com
bbb.org
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement plans
How To
Three Ways to Invest In Gold For Retirement
It's crucial to understand where gold fits in your retirement strategy. You have many options for investing in gold if there is a 401K account at your workplace. You might also be interested to invest in gold outside the workplace. You could, for example, open a custodial bank account at Fidelity Investments if your IRA (Individual Retirement Account) is open. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.
These are three easy rules to remember if you invest in gold.
- Buy Gold With Your Cash – Do not use credit cards to purchase gold. Instead, deposit cash into your accounts. This will protect your against inflation and increase your purchasing power.
- Own Physical Gold Coins – You should buy physical gold coins rather than just owning a paper certificate. Physical gold coins are easier to sell than certificates. You don't have to store physical gold coins.
- Diversify Your Portfolio. – Do not put all your eggs into one basket. This is how you spread your wealth. You can invest in different assets. This helps reduce risk and gives you more flexibility during market volatility.
—————————————————————————————————————————————————————————————–
By: Kevin Helms
Title: Robert Kiyosaki Reveals Why Bitcoin is His Choice for Wealth Protection
Sourced From: news.bitcoin.com/robert-kiyosaki-bitcoin-protects-against-theft-by-the-fed-government-and-wall-street-bankers/
Published Date: Thu, 01 Feb 2024 02:30:18 +0000
Leave a Reply