Category: Forex News

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Takes Direct Swipe at Peter Schiff

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Robert Kiyosaki, the well-known author of “Rich Dad Poor Dad,” has sparked a public dispute with Bitcoin critic Peter Schiff, suggesting that Schiff lacks comprehensive knowledge about finance and the real estate sector.

In a post on social media platform X, Kiyosaki’s post, structured in a Q&A format, seeks to challenge Schiff’s stance on Bitcoin while shedding light on the broader financial expertise that includes trading in gold, silver and real estate.

Kiyosaki’s critique

Kiyosaki, in the post, posed a rhetorical question: “Why do so many MONEY EXPERTS like Peter Schiff live in Puerto Rico?”

He follows up with his answer, suggesting that these experts, including Schiff, may possess specialized knowledge in certain areas but lack a comprehensive understanding of others.

Specifically, Kiyosaki asserts that Schiff may be well-versed in gold and silver but lacks expertise in debt management and real estate. The author argues that if Schiff understood how to leverage debt to invest in real estate effectively, he could live anywhere in the world and legally minimize his tax obligations, without the need to reside in Puerto Rico.

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In a recent exchange on X earlier this month, Peter Schiff strongly advised billionaire investor Bill Ackman about his possible involvement with Bitcoin. He countered the suggestions put forward by MicroStrategy CEO Michael Saylor advocating for Ackman to invest in Bitcoin. This shows that related spat among these top market experts.

Kiyosaki recommends financial literacy

Kiyosaki also proceeded to recommend educational resources for those interested in optimizing their financial strategies, including the book “Tax-Free Wealth” by his tax advisor, Tom Wheelwright, and the real estate investment series authored by his partner Ken McElroy.

The author maintained that it was important for people to gain financial education, particularly in understanding turbulent economic times, suggesting that the impending economic challenges present opportunities for wealth accumulation for those who are prepared. Kiyosaki has always favored digital assets and even predicted in February last year that the Bitcoin price could hit $500,000 by 2025.

While the post by Kiyosaki is gaining traction with different reactions, Peter Schiff is yet to give a rebuttal. However, just a few days ago, Schiff posted about a prediction of a major Bitcoin (BTC) price crash.

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