Robert Kiyosaki Challenges Warren Buffett's View on Crypto, Declares Bitcoin as People's Money

In an X post this week, Rich Dad Poor Dad author Robert Kiyosaki openly challenged Berkshire Hathaway chairman Warren Buffett's scepticism about Bitcoin.

Buffett has previously described Bitcoin as 'rat poison squared', asserting it is a speculative asset that does not 'produce anything'. Despite acknowledging Buffett's status as arguably the smartest and wealthiest investor globally, Kiyosaki pointed out that Buffett continues to sell stocks, bonds, and other 'Wall Street-manufactured' assets.

Questioning Traditional Assets

Kiyosaki questioned the safety of the traditional assets Buffett invests in. 'He [Buffett] is saying a blow-off top will wipe out Bitcoiners... Doesn't WB know that stocks crash, real estate crashes, and US government bonds — the "safest" investments in the world — are at present being "dumped" by the Japanese and Chinese central banks?' Kiyosaki wrote on social media.

Bitcoin as People's Money

The author argued that his investments in Bitcoin and precious metals like gold and silver stem from a fundamental reason: distrust.

'I do not trust the Federal Reserve Bank, US Treasury, or Wall Street. Apparently, Buffett does. I think they're tight,' Kiyosaki stated. 'I invest in Bitcoin and Ethereum knowing they can boom and bust because the Fed, the US Treasury, nor Buffett can produce Bitcoin or crypto.'

He explained that he owns crypto because he trusts blockchain technology rather than top accounting firms auditing Wall Street money. Kiyosaki also classified precious metals as 'God's money' and Bitcoin as 'people's money', contrasting both with what he calls 'fake money' — Wall Street's financial mechanisms.

Critique of the US Financial System

Kiyosaki further explained that the US Federal Reserve is not a true federal bank, nor does it hold reserves. He expressed distrust in the US Treasury's ability to manage tax dollars wisely, emphasising that this is a primary reason the US is the biggest debtor in history.

'Fake government money is unlimited — infinite. The government cannot keep printing money to pay its bills... just as you or I cannot use a credit card to pay for what we cannot afford,' he warned.

He warned that the US will soon be forced to print trillions in Treasuries, which 'Buffett and Wall Street love,' but at the expense of the average person through inflation and higher taxes.

Moving Away from Paper Assets

Kiyosaki believes that people should avoid paper-based investments such as real estate investment trusts (REITs). He describes them as 'fake, paper real estate.'

REITs allow investors to buy units of a property for income and avoid managing real estate, but they do not own part of the property — only a unit of the firm that owns it.

He criticised ETFs, stocks, bonds, and mutual funds as 'printed money' or 'counterfeit money'.

'I do not live in a paper house, put paper gas in my car, or eat paper apples. Why would I invest in paper assets when real assets are available?' Kiyosaki questioned.

He emphasised that one does not need an elite education to understand that saving 'infinitely printed' fake money is 'stupid'.

'I own real gold, silver, and Bitcoin... I will never invest in Wall Street or Buffett's money,' he concluded.

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