The outbreak of the Coronavirus pandemic has wreaked havoc on global economies, which has left the less privileged in most affected nations exposed to series of hardships and has made many experts provide insights on possible ways to avoid such reoccurrence in the future.
Robert Kiyosaki, a bestselling author of popular financial literacy book, Rich Dad Poor Dad, is the latest to weigh in on the topic as he encouraged his followers on Twitter to save their money via Bitcoin instead of fiats currencies.
Kiyosaki who recently started a series of financial lessons on how people can stay free from a financial crisis made this known today while describing Bitcoin, the most valuable cryptocurrency as the “People’s money.”
He urged his followers to adopt the digital currency due to the many benefits it offers.
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.
— therealkiyosaki (@theRealKiyosaki) April 1, 2020
Bitcoin, the people’s money
Since the inception of Bitcoin, it has been adopted by both individuals and major organizations globally as a medium of settlement and a store of value.
Even though the cryptocurrency is yet to get the massive popularity it deserves, BTC is gradually becoming a household name as more people keep adopting, using, and holding the coin due to the potential of a possible price soar.
Since Bitcoin’s creation, it has served as a perfect means of exchange, store of wealth, and provide anonymity; however, critics still believe its anonymous feature has done more harm than good as they think it could be used to facilitate fraudulent activities such as money laundering, terrorist financing, among others.
However, global financial regulators have come up with measures to curb these fears by prompting all crypto-related businesses to comply with the KYC and AML regulations.
This is not the first time Kiyosaki will be speaking about Bitcoin. Back in October 2019, he noted that the leading cryptocurrency is giving financial institutions a run for their money and that there is no limit to what the coin can achieve.