Bitcoin a scam? ‘Rich Dad Poor Dad’ author says US dollar is worse, disses Fed

“Rich Dad Poor Dad” author Robert Kiyosaki issued yet another warning against investing in exchange-traded funds (ETFs) for Bitcoin and precious metals.

He urged direct ownership as protection against what he describes as a corrupt banking system.

In a recent X post, Kiyosaki advised against gold, silver, or Bitcoin ( BTC ) ETFs, labeling them “banksters’ money.” He further highlighted distinctions between traditional financial instruments and direct asset ownership amid his predictions of financial system failure.

“Is BITCOIN a SCAM? It might be…. But not as big a scam as the US Dollar and the US Banking System…. Starting with the Fed,” Kiyosaki stated. He characterized central bankers as “BANKSTERS” who receive government bailouts after losing billions, arguing they “should go to jail” instead.

Kiyosaki says Bitcoin is on sale

The author’s commentary comes during a period of Bitcoin price volatility. On February 27, as cryptocurrency prices declined, Kiyosaki viewed the downturn as an opportunity, declaring “BITCOIN CRASHING. Bitcoin is on SALE. I AM BUYING.” He attributed the underlying issues not to Bitcoin itself but to America’s monetary system and banking sector.

Kiyosaki spoke about the U.S. financial situation, claiming the country faces bankruptcy with over $230 trillion in combined debt when including social programs and unfunded liabilities beyond the official $36 trillion national debt. He predicted that when major holders like Japan and China stop purchasing U.S. bonds, “inflation will go through the roof,” potentially causing economic collapse and dollar devaluation.

The financial author has consistently advocated for tangible assets during economic uncertainty. In a separate tweet focusing on silver, Kiyosaki suggested the metal is positioned for notable growth. He has predicted a rise from approximately $32 per ounce to $70 within a year once gold breaks through $3,000.

His perspective on asset prices shows his views on inflation and currency devaluation: “The price of gold, silver, and Bitcoin aren’t going up. Inflation is bringing the purchasing power…the value of their fake money down.”