- Kiyosaki emphasized the significance of Coinbase Inc. going public.
- This is the first time Kiyosaki mentions Ethereum as a safe-haven asset.
Private equity firms are buying precious metals mining companies like American businessman and billionaire Warren E. Buffett. He allegedly sold JP Morgan Chase and other Wall Street stocks. And it wasn’t the first. A significant stakeholder at Goldman Sachs, he sold his shares in May.
After selling the stock, Berkshire Hathaway purchased almost $564 million worth of Barrick Gold stock, a mining company. So investors sense the catastrophe coming.
Robert Kiyosaki, author of “Rich Dad Poor Dad,” now buys cryptocurrency instead of gold and advises his email subscribers to do so.
Moreover, Kiyosaki, who owns BTC and ETH, has long backed Bitcoin. He regularly urges young people to invest in cryptocurrencies and precious metals, citing the US dollar’s demise. Furthermore, he thinks the dollar is a fraud.
He argues that Bitcoin makes individuals wealthier, wiser and allows Americans to combat corruption. Finally, cryptocurrencies teach millennials. Kiyosaki emphasized the significance of Coinbase Inc. going public earlier this year. He said he won’t purchase the company’s shares in the future, but the IPO indicates “cryptocurrency is entering the mainstream.”
Dire Prediction for Global Financial Markets
He also said that he thinks there is still time to learn about cryptocurrency. According to him, novices may still invest as educated investors rather than gamble with digital assets. This week, the multi-millionaire businessman and novelist warned on Twitter. Given the condition of US politics and Evergrande’s debt, he issued a dire prediction for global financial markets.
Kiyosaki is well-known for his dislike of fiat currencies and preference for equities, real estate, and metals as a store of wealth. He included Bitcoin on this list a while back and considered purchasing more during this year’s down market.
But this is the first time Kiyosaki mentions Ethereum as a safe-haven asset. In the near run, Ethereum’s price is more volatile than Bitcoin’s. But it has generally tracked the main cryptocurrency’s fluctuations.