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BTC 
ETH Robert Kiyosaki: Consider Bitcoin and gold as "financial insurance"
Robert Kiyosaki has long placed Bitcoin (BTC), Ethereum (ETH), silver and gold in the same investment hierarchy. He likened holding some assets to buying "insurance" to deal with financial crises. The author of best-selling books such as Rich Dad Poor Dad said preparing for currency instability is not the same as predicting disaster. In addition, he took the opportunity to lash out at government-issued fiat tender.
The concept of a "financial prepper"
In his latest post, the famous writer calls himself a "financial prepper." He believes that owning gold, silver and bitcoin is like buying insurance: people don't buy insurance in the hope of a car accident, but to be protected in the event of an accident.
This argument stems from a conversation he had with a woman who reportedly questioned whether preparing for economic difficulties was too pessimistic. Kiyosaki asked: "Do you own gold, silver or Bitcoin?" He then reiterated one of the core themes of his investment philosophy: "I just want to hold money that the government cannot print."
His long-standing concerns include inflation and the loss of purchasing power caused by monetary expansion. In his view, holding scarce assets that are not controlled by government fiat currencies can protect against these risks to a certain extent. Bitcoin particularly fits this theory because of its supply limit of 21 million; however, scarcity alone does not guarantee that the asset will preserve its value during any given period of time.
Reasons for Kiyosaki to be optimistic about Bitcoin
It is worth noting that Kiyosaki's recent remarks seem less doomsday than some previous warnings, but its underlying strategy has hardly changed. As previously reported, the prominent investor has warned that rising debt, inflation, energy-related geopolitical tensions and weaknesses in traditional retirement systems could converge into a larger financial crisis. As usual, he recommends holding Bitcoin, gold and silver and viewing them as alternatives to traditional fiat savings.
He continued to buy during periods of weak markets. A few months ago, when he signaled that the financial meltdown was "accelerating", he said he was accumulating assets including Bitcoin and Ethereum rather than retreating into cash. However, his public position on this topic has changed many times. For example, in June this year, he explained why he had not bought Bitcoin and Ethereum declines even though prices bottomed out in about a week.
