Robert Kiyosaki Praises Bitcoin, Says Gold Has Lost To S&P

JAKARTA - Robert Kiyosaki, author of bestseller Rich Dad Poor Dad, expressed his admiration for Bitcoin (BTC) as a future investment asset. He also criticized financial planners who did not recommend Bitcoin to their clients, and predicted that the stock market would experience a massive crisis.

Kiyosaki, known as a financial expert and entrepreneur, often advises followers to invest in "hard assets" such as gold, silver, real estate, and Bitcoin. According to him, these assets can provide protection against currency inflation and devaluation.

However, he said that many financial planners ignore these assets, and only offer products that provide high commissions to them, such as mutual funds, bonds, and insurance. He considers this an irresponsible and detrimental act of clients.

"S&P will fall 70%. Don't be a loser. Choose your financial planner carefully," Kiyosaki wrote on X. Get ready for the biggest crash in history

Kiyosaki's prediction may sound exaggerated, but he has long warned of the dangers of loose monetary policy and swelling debt. He also highlighted that gold, which is considered a hedge asset, has lost its performance to the S&P 500 stock index in the long term.

According to data from Longtermtrends, since 1974, S&P 500 has risen 5200%, while gold has only risen 1306%. In the last 10 years period, S&P 500 rose 300%, while gold only rose 18%.

Kiyosaki said gold was still better than the US dollar, which continued to weaken due to money printing by the central bank. However, he said that there are assets that are better than gold, namely Bitcoin.

Bitcoin, often referred to as "digital gold", has several advantages over gold. First, the supply is limited to 21 million coins, so it cannot be printed carelessly. Second, its digital nature makes it easy to trade and store, without the need for storage or transportation costs. Third, Bitcoin is supported by blockchain technology, which makes it transparent, secure, and cannot be falsified.

Kiyosaki said that Bitcoin is the "best protection" against hyperinflation, which could occur due to excessive fiscal and monetary stimulus. He also said that Bitcoin is a "people's money", meaning the value of Bitcoin is determined by market demand and offers, not by government or central bank decisions.

"Bitcoin is people's money which means the people control the value of Bitcoin, not our leader," he said.

Kiyosaki is not alone in praising Bitcoin. Many well-known investors and entrepreneurs, such as Elon Musk, Michael Saylor, Jack Dorsey, and Paul Tudor Jones, have also expressed their support for the cryptocurrency. Several companies, such as MicroStrategy, Tesla, and Square, have also allocated part of their cash to Bitcoin.

In addition, Bitcoin also received recognition from the traditional financial industry, with the launch of several Bitcoin spot ETFs in Canada and Brazil last month. Bitcoin ETF is an investment product that tracks the price of Bitcoin, and allows investors to buy and sell Bitcoin through the stock exchange.

With the Bitcoin ETF, retail and institutional investors can access Bitcoin more easily, cheaply, and safely, without the need to have a private key or digital wallet. Bitcoin ETF can also increase Bitcoin's market liquidity and transparency, as well as attract interest from regulators and supervisors.

Since the launch of the Bitcoin ETF, Bitcoin has become Canada's second-largest ETF commodity, after gold. In terms of net inflow, Bitcoin ETF has absorbed $3 billion in BTC since last month. In comparison, the first gold ETF - GLD - has only reached this level after about 2 years.