Rich Dad Poor Dad Author Addresses Charlie Munger’s Anti-Bitcoin Stance, Says Investing Legend Living in Past
Finest-selling creator Robert Kiyosaki has responded to Berkshire Hathaway’s Charlie Munger’s feedback and criticisms of cryptocurrency.
In a brand new interview with Daniela Cambone of Stansberry Analysis, Kiyosaki addresses Munger’s comments that there was no good argument in favor of crypto, and that making an attempt to interchange the nationwide foreign money was like “making an attempt to interchange the nationwide air.”
Munger additionally stated that those that oppose his view are “idiots” and that he’s “ashamed of his nation” for permitting the trade to proceed working.
In response, Kiyosaki says,
“Charlie Munger’s an previous man like me. We’re about the identical age… We’re in the identical class.
Once I wrote this e-book right here ‘Who Stole My Pension?,’ my concern right here was that the Boomers are the largest technology in historical past. And when their pensions go, it’s going to suck money out of the inventory market. So Charlie will nonetheless in all probability say ‘Purchase shares.’ However the motive I like crypto, shouldn’t be due to Bitcoin, it’s due to blockchain, and blockchain is an accounting system. It’s extra official than the Fed or the Treasury or Wall Road. So Charlie Munger is within the Fed/Treasury/Wall Road crowd, and the youthful generations, millennials and under, are within the iPhone crowd.
[The iPhone] is probably the most highly effective device I’ve ever seen. I nonetheless don’t know the best way to use it as a result of I’m an previous man. However this factor right here is probably the most highly effective device I’ve ever seen in historical past. There are extra instruments coming, however this factor right here, this iPhone, I can name anyone on this planet, like that. It’s superb what might be completed. So the youthful technology is on this factor, whereas Charlie Munger is on the Fed, Treasury and Wall Road.”
Kiyosaki lately predicted that by 2025, the financial system will likely be in a melancholy that sends gold, silver and Bitcoin (BTC) flying. He gave a worth goal for BTC of $500,000.
“Big crash coming. Despair attainable. Fed pressured to print billions in faux cash.
By 2025, gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? As a result of religion in US greenback, faux cash, will likely be destroyed. Gold and Silver god’s cash. Bitcoin [is the] folks’s cash. Take care.”
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