Rich Dad Poor Dad author sends harsh warning to Warren Buffett

Warren Buffett has erstwhile again been held up arsenic crypto’s eventual skeptic aft Rich Dad Poor Dad writer Robert Kiyosaki utilized a lengthy station connected Nov. 17 to situation the Berkshire Hathaway chair’s presumption that Bitcoin (BTC) is specified speculation alternatively than existent investing - a stance helium has held since astatine slightest 2018, erstwhile helium called Bitcoin “probably rat poison squared” and aboriginal said helium “wouldn’t bargain each of the bitcoin successful the world” for $25.

“WARREN BUFFET trashes BITCOIN,” Kiyosaki wrote, adding that Buffett “trashes Bitcoin saying it is not investing….it is speculation….. i.e. gambling. He is saying a stroke disconnected apical volition hitch retired Bitcoiners. And from his worldly presumption helium whitethorn beryllium right.”

Buffett has repeatedly argued that Bitcoin “doesn’t nutrient anything,” contrasting it with productive assets specified arsenic businesses and farms that make currency flow.

Kiyosaki contrasted Buffett’s stance with the risks successful accepted markets, asking:

“Doesn’t WB cognize that stocks crash, existent property crashes, and US govt Bonds the ‘safest’ investments successful the satellite are astatine contiguous being ‘dumped’ by the Japanese and Chinese Central Banks?”

Kiyosaki besides pointed retired what helium views arsenic a contradiction: that Berkshire Hathaway has indirectly gained crypto vulnerability done investments successful companies specified arsenic Nu Holdings and Jefferies - firms operating successful oregon adjacent to the integer plus space.

He said helium owns “gold mines, golden and metallic coins for the aforesaid crushed I ain Bitcoin and Ethereum,” arguing: “My crushed is: I bash not spot the Federal Reserve Bank, US Treasury, oregon Wall Street. Apparently Buffet does. I deliberation they’re tight.”

Reiterating his long-time framework, Kiyosaki wrote: “I classify existent golden and metallic arsenic ‘God’s Money’. I classify Bitcoin, Ethereum and crypto arsenic ‘People’s Money’. I classify Fed, US Government, and Wall Street wealth arsenic ‘Fake Money.’”

Related: 'Rich Dad Poor Dad' writer warns of ‘The Big Print’ arsenic ‘fake wealth crashes’

He added that helium invests successful Bitcoin and Ether “knowing they tin roar and bust, due to the fact that the Fed, the US Treasury, nor Buffet tin nutrient Bitcoin oregon crypto.”

Kiyosaki besides took purpose astatine ETFs and existent property concern trusts (REITs), saying: “I volition ne'er put successful gold, silver, oregon Bitcoin ETFs…. Fake gold, silver, and Bitcoin…. Wall Street oregon Buffer’s money.”

“ETFs and REITS are on with stocks, bonds, communal funds….printed money….aka ‘counterfeit money,’” helium wrote, arguing that “Marxist schoolhouse systems” neglect to thatch radical existent fiscal literacy and repeating his earlier enactment that “savers are losers” successful “fake ‘infinitly printed’ money.”