- Personal-finance guru Robert Kiyosaki thinks cash is trash, while touting bitcoin, silver and gold as "real money" instead.
- "To me, Gold, Silver, &Bitcoin are real money. To me Cash is trash," the "Rich Dad Poor Dad" author tweeted.
Robert Kiyosaki touted the catchphrase "cash is trash" – and endorsed bitcoin, silver and gold as "real money" instead.
"GOLD to CRASH. Steve Van Meter whom I respect predicts gold to crash to $1000. He states markets are tired of waiting for gold to go higher. If gold drops to $1000 I will buy more. I am an investor not a trader. To me, Gold, Silver, &Bitcoin are real money. To me Cash is trash," the personal-finance guru said in a Monday tweet.
The famed "Rich Dad Poor Dad" author has flip-flopped in his views toward bitcoin, silver and gold, once slamming the world's largest cryptocurrency as speculative play. Now, he "loves" the token because of its decentralized qualities, meaning it's not controlled by an external body compared to the US financial system – currently in turmoil, Kiyosaki said in an earlier tweet.
He previously even promoted tuna as a better investment than gold, silver and bitcoin as US inflation hit 40-year highs last year.
Kiyosaki's "cash is trash" statement clashes with recent views from other market experts including Ray Dalio and Wall Street analyst Jim Bianco, who have warmed up to the greenback's high yields following the Federal Reserve's aggressive interest-rate increases over the past year aimed at taming inflation.
Rising rates encourage saving over spending as they boost returns from bank accounts an dn other interest-bearing financial instruments such as money-market funds. But elevated borrowing costs can also lead to a slump in demand for goods and services, slowing the economy and dragging down stocks and other assets.