Warren Buffett has once again been held up as crypto’s ultimate skeptic after Rich Dad Poor Dad author Robert Kiyosaki used a lengthy post on Nov. 17 to challenge the Berkshire Hathaway chair’s view that Bitcoin (BTC) is mere speculation rather than real investing -a stance he has held since at least 2018, when he called Bitcoin “probably rat poison squared” and later said he “wouldn’t buy all of the bitcoin in the world” for $25.
“WARREN BUFFET trashes BITCOIN,” Kiyosaki wrote, adding that Buffett “trashes Bitcoin saying it is not investing….it is speculation….. ie gambling.He is saying a blow off top will wipe out Bitcoiners. And from his worldly view he may be right.”
Buffett has repeatedly argued that Bitcoin “doesn’t produce anything,” contrasting it with productive assets such as businesses and farms that generate cash flow.
Kiyosaki contrasted Buffett’s stance with the risks in traditional markets, asking:
“Doesn’t WB know that stocks crash, real estate crashes, and US govt Bonds the ‘safest’ investments in the world are at present being ‘dumped’ by the Japanese and Chinese Central Banks?”
Kiyosaki also pointed out what he views as a contradiction: that Berkshire Hathaway has indirectly gained crypto exposure through investments in companies such as Nu Holdings and Jefferies – firms operating in or adjacent to the digital asset space.
He said he owns “gold mines, gold and silver coins for the same reason I own Bitcoin and Ethereum,” arguing: “My reason is: I do not trust the Federal Reserve Bank, US Treasury, or Wall Street. Apparently Buffet does. I think they’re tight.”
Reiterating his long-time framework, Kiyosaki wrote: “I classify real gold and silver as ‘God’s Money’. I classify Bitcoin, Ethereum and crypto as ‘People’s Money’. I classify Fed, US Government, and Wall Street money as ‘Fake Money.’”
Related: ‘Rich Dad Poor Dad’ author warns of ‘The Big Print’ as ‘fake money crashes’
He added that he invests in Bitcoin and Ether “knowing they can boom and bust, because the Fed, the US Treasury, nor Buffet can produce Bitcoin or crypto.”
Kiyosaki also took aim at ETFs and real estate investment trusts (REITs), saying: “I will never invest in gold, silver, or Bitcoin ETFs…. Fake gold, silver, and Bitcoin…. Wall Street or Buffer’s money.”
“ETFs and REITS are along with stocks, bonds, mutual funds….printed money….aka ‘counterfeit money,’” he wrote, arguing that “Marxist school systems” fail to teach people real financial literacy and repeating his earlier line that “savers are losers” in “fake ‘infinitly printed’ money.”