Gold and bitcoin both hit new all-time highs on Monday: gold surpassed $4,000 an ounce for the first time, while bitcoin crossed the $126,000 mark. Against this backdrop of record highs, Rich Dad Poor Dad author Robert Kiyosaki renewed his long-standing criticism of the U.S. dollar, warning that traditional economies may no longer be safe in the current financial climate.
In brief
- Robert Kiyosaki warned that the US dollar was losing value and urged investors to turn to tangible assets like gold, silver, bitcoin and Ethereum.
- The Kobeissi Letter has reported a growing loss of confidence in fiat currencies, as inflation persists and most asset classes reach all-time highs.
Kiyosaki urges focus on tangible assets
A long-time proponent of real assets, Kiyosaki has stressed the importance of protecting one's wealth amid concerns over the U.S. dollar. In a recent post on X, he asked: “END of the US dollar? ”, while indicating that he was increasing his holdings in gold, silver, Bitcoin and Ethereum. The investor reaffirmed his belief that “US dollar savers are losers”, emphasizing the need to hold tangible assets rather than holding on to a depreciating fiat currency.
The financial educator's recent comments continue his previous stances on Bitcoin, gold and silver, as well as his consistent criticism of the Federal Reserve's monetary policies — including its reliance on money printing to manage economic downturns. According to him, these measures weaken the dollar and maintain an economy based on excessive debt.
He believes investors should avoid holding on to cash and favor tangible assets, which he sees as more resilient in times of financial instability.
In June, he warned that the world could experience what he described as the biggest financial crash in historylikely to wipe out many investors. However, he believed that such a collapse would likely push capital towards alternative assets and safe havens, as confidence in traditional markets erodes.
More recently, Kiyosaki highlighted Warren Buffett's unexpected endorsement of gold and silver as a possible harbinger of coming tensions in the stock and bond markets.
Market Volatility and a Weakening Dollar
Market analysts have also noted increasing weakness in fiat currencies. According to The Kobeissi Letterconfidence in traditional money continues to crumble in the face of persistent inflation. The report notes that most asset classes, real estate, cryptocurrencies or global bonds, are reaching new heights, while trust in fiat currencies falling to levels not seen in several decades.
The Kobeissi Letter also cites data from Goldman Sachs that the U.S. dollar has recently been more volatile than the S&P 500, a third occurrence in seven years. The greenback is heading towards its worst annual performance since 1973, down 10% since the start of the year, while the S&P 500 has gained 14% and recorded 32 new all-time highs.
Kiyosaki's bold predictions
In May, Kiyosaki predicted that gold could reach $25,000 an ouncesilver $70, and Bitcoin between $500,000 and $1 million. If these levels remain distant, the current strength of these assets reinforces the attention paid to its forecasts.
Currently, Bitcoin is trading around $122,000, less than 3% below its all-time high, while Ethereum, now among Kiyosaki's favored assets, is trading above $4,450, up slightly by around 1% over 24 hours. This performance reflects investors' continued interest in alternatives to traditional fiat currencies.
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