Greatest-selling writer Robert Kiyosaki has responded to Berkshire Hathaway’s Charlie Munger’s feedback and criticisms of cryptocurrency.
In a brand new interview with Daniela Cambone of Stansberry Analysis, Kiyosaki addresses Munger’s comments that there was no good argument in favor of crypto, and that attempting to exchange the nationwide forex was like “attempting to exchange the nationwide air.”
Munger additionally mentioned that those that oppose his view are “idiots” and that he’s “ashamed of his nation” for permitting the business to proceed working.
In response, Kiyosaki says,
“Charlie Munger’s an previous man like me. We’re about the identical age… We’re in the identical class.
After I wrote this guide right here ‘Who Stole My Pension?,’ my concern right here was that the Boomers are the largest technology in historical past. And when their pensions go, it’s going to suck money out of the inventory market. So Charlie will nonetheless most likely say ‘Purchase shares.’ However the motive I like crypto, just isn’t due to Bitcoin, it’s due to blockchain, and blockchain is an accounting system. It’s extra authentic than the Fed or the Treasury or Wall Avenue. So Charlie Munger is within the Fed/Treasury/Wall Avenue crowd, and the youthful generations, millennials and beneath, are within the iPhone crowd.
[The iPhone] is probably the most highly effective instrument I’ve ever seen. I nonetheless don’t know methods to use it as a result of I’m an previous man. However this factor right here is probably the most highly effective instrument I’ve ever seen in historical past. There are extra instruments coming, however this factor right here, this iPhone, I can name anyone on the earth, like that. It’s wonderful what may be completed. So the youthful technology is on this factor, whereas Charlie Munger is on the Fed, Treasury and Wall Avenue.”
Kiyosaki not too long ago predicted that by 2025, the economic system will likely be in a melancholy that sends gold, silver and Bitcoin (BTC) flying. He gave a value goal for BTC of $500,000.
“Large crash coming. Melancholy attainable. Fed compelled to print billions in pretend cash.
By 2025, gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? As a result of religion in US greenback, pretend cash, will likely be destroyed. Gold and Silver god’s cash. Bitcoin [is the] folks’s cash. Take care.”
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