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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Rich Dad, Poor Dad Author Says ‘Major Banking Crisis Coming,’ Praises Bitcoin and Gold

Rich Dad, Poor Dad Author Says 'Major Banking Crisis Coming,' Praises Bitcoin and Gold

Robert Kiyosaki, the author of the best-selling book “Rich Dad, Poor Dad,” explained this week that time is running out as a “major banking crisis is coming fast.” The best selling author says now is “not a time to think about it” and said people should start considering leveraging precious metals and bitcoin.

Robert Kiyosaki wrote the popular book “Rich Dad, Poor Dad,” and he also offers personal finance education to people interested in learning about real estate, investing, cash flow, and how to start a business. During the last few years, Kiyosaki has been an advocate for cryptocurrencies like bitcoin and he’s predicted an economic collapse for years now.

In 2018, during an interview with the Sane Crypto Podcast, Kiyosaki called bitcoin “the people’s money” and said he expects digital currencies to outlast fiat. Following the Covid-19 outbreak and the beleaguered global economy, Kiyosaki has continued to praise precious metals and bitcoin.

On August 21, the best selling author tweeted about Warren Buffet’s recent decisions to invest in gold.

“Why Buffet is out of banks?” the author said. “Banks bankrupt. Major banking crisis coming fast. [The] Fed [and] Treasury to take over the banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting?”

Kiyosaki continued:

Not a time to ‘Think about it.’ How much gold, silver, [and] Bitcoin do you have?

A number of Kiyosaki’s 1.4 million followers questioned his statements about bitcoin and some recommended other investments.

One individual replied to Kiyosaki’s tweet and said that it was “highly irresponsible not to own any bitcoin.”

“Some say they can’t afford one whole Bitcoin-just like gold, [but] you can buy a portion of it,” the Twitter account Stack Satoshi’s said responding to Kiyosaki’s statement.

“[One] bitcoin has 100 million units called Satoshis. Start buying Satoshis and in no time, you will have one whole Bitcoin and many more,” he added. Kiyosaki’s tweet got a number of responses from his followers and most people didn’t seem to appreciate his recommendations.

The author of “Rich Dad, Poor Dad” said similar statements last April when the U.S. government started distributing stimulus. At the time, Kiyosaki said the “death of the dollar” was imminent.

“Death of dollar,” Kiyosaki told his Twitter followers at the time. “People desperate for money. Very sad. If [the] government gives you free money, take it yet spend it wisely. Do not save. Buy gold, silver, bitcoin. Dollar is dying.”

What do you think about Robert Kiyosaki warning about a major banking crisis? Let us know what you think in the comments section below.

The post Rich Dad, Poor Dad Author Says ‘Major Banking Crisis Coming,’ Praises Bitcoin and Gold appeared first on Bitcoin News.

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