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Inflation has become a major of concern for most investors these days and experts have offered various strategies of wealth preservation. Among these is “Rich Dad, Poor Dad” author Robert Kiyosaki who offered his own strategy which involves buying the cryptos Bitcoin (BTC) and Ethereum (ETH).
Robert Kiyosaki is preparing himself for higher inflation, which is described as like a tax on the poor and middle class. The author is making adjustments in his portfolio and plans to acquire more crypto and precious metals urging everyone to do the same.
“Dollar Tree becomes $1.25 Tree,” Kiyosaki wrote on Twitter on November 24. “Inflation is a tax on the poor and middle class. Inflation makes the rich richer. Get smart. Get richer.”
Aside from his recommendations on Bitcoin and Ether, Kiyosaki also wants to get his hands on the precious metals gold and silver. The author recommended investment in real estate as well, which is not surprising since he wrote extensively on real estate in his books.
“I am buying more gold, silver, Bitcoin, ethereum, rental real estate, and oil,” he added. “What are you buying?”
If his followers had followed Kiyosaki’s crypto recommendation, they would have made some profits by now. Bitcoin was just trading at $56,267 and Ether at $4,238 at the time of his tweet last week, according to Bitcoin.com.
Both cryptos have made some gains since then. At the time of writing, BTC traded at $57,597.83 while ETH traded at $4,359.51 according to Coindesk data.
Kiyosaki has previously aired his concerns about inflation in the past and has been recommending Bitcoin as well. In October, he said that President Biden and the Federal Reserve “need inflation to prevent new depression” and warned of a giant crash coming while recommending Bitcoin, gold, and silver as a hedge.
“Fed wants inflation to pay debt with cheaper dollars,” Kiyosaki also tweeted in May this year. “Fed will raise interest rates causing stock, bond, real estate & gold crash.”
