Following the outbreak of Coronavirus pandemic and its effect on global economies, which has left the poor households in most affected nations exposed to series of hardships, many experts have provided insights on possible ways to control the incident and prevent future reoccurence.
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Robert Kiyosaki, a bestselling author of the popular financial book, Rich Dad Poor Dad, has encouraged his twitter followers to save their money on Bitcoin instead of fiat currencies.
The best selling author of Rich Dad Poor Dad started a series on financial lesson where he described Bitcoin, the most valuable cryptocurrency as the “People’s money.”
“Lesson 5. SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money.”
Just this morning, still on the series of his Financial Lesson for his twitter followers, he said;
“Lesson 5. DEBT. 1971 Dollar became DEBT. Debt makes RICH richer. Debt makes POOR & MC poorer. IF US Debt to GDP ratio 60% world sound. Today US Debt to GDP 110% and climbing. US bankrupt. Debt, dollar, greed destroying lives & world economy VERY SAD. Save gold, silver & Bitcoin.”
Moreover, a French cryptocurrency hardware wallet service provider, Ledger in response to the tweet said; “There are two types of dads, a #Bitcoin dad, and a #fiat dad. One can never be debased and the other… let’s leave it at that.”
Alasdair Macleod, head of research for Goldmoney.com explained that “the increase in instability at the financial markets is a sign to the end of fiat currency.”
Going further, he explained that the US Federal Reserve is looking to maintain a false level of value in government securities but these false level of value in financial assets is not working.
Diutocoinnews previously reported that the coronavirus effect has accelerated the printing of US dollar. The US Federal Reserve announced the printing of around $2 trillion which will be channeled into the economy in the next two to three months causing inflation.
Meanwhile, this is not the first time he has talked about Bitcoin. Kiyosaki previously talked about it around October 2019, saying that bitcoin, is the digital currency that will affect financial institutions and that there is no limit to what the it can achieve.