Renowned investor Robert Kiyosaki has dismissed Warren Buffett’s long-standing criticisms of Bitcoin, arguing the cryptocurrency shares the exact same speculative characteristics as the mainstream assets Buffett champions.
Renowned investor Robert Kiyosaki has dismissed Warren Buffett’s long-standing criticisms of Bitcoin, arguing the cryptocurrency shares the exact same speculative characteristics as the mainstream assets Buffett champions.
In his latest post on X, Kiyosaki effectively turned Buffett’s critique back on him, noting that Buffett’s own preferred assets are not immune to the same risks.
Kiyosaki referenced Buffett’s well-known position that Bitcoin is a speculative gambling tool rather than a productive investment instrument. The veteran Berkshire Hathaway CEO has long claimed that a blow-off top will eventually wipe out Bitcoin investors.
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To push his argument, Kiyosaki stated that stocks are not immune to crashes, real estate crashes, and US government bonds, which most people consider the safest asset to invest in, are currently under pressure, following an ongoing dump by the Japanese and Chinese central banks.
Meanwhile, Kiyosaki compared Bitcoin to gold and silver coins, all of which he owns. According to him, he holds gold, silver, Bitcoin, and Ethereum for the same reason—He does not trust the Federal Reserve Bank, US Treasury, or Wall Street.
Kiyosaki further noted that one of the major reasons behind his investing in Bitcoin and Ethereum is that he knows the cryptocurrencies can boom or bust. He believes the digital asset class can do so because none of the Fed, the Treasury, or a top investor like Buffet can produce Bitcoin or crypto.
Meanwhile, Kiyosaki is renowned for his classification of top digital assets, including gold, silver, and crypto. According to him, gold and silver are God’s money, while Bitcoin, Ethereum, and other crypto assets are the people’s money. However, he sees assets backed by the Fed, the US government, and Wall Street as “Fake Money.”
