Robert Kiyosaki, the author behind the bestseller ‘Rich Dad Poor Dad’ on Tuesday explained the reason why he owns Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency.

What Happened: Kiyosaki took to X, formerly Twitter, to explain his reasons for investing in the cryptocurrency. 

He tweeted, “Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save and invest in Bitcoin, not stocks, bonds, and fake dollars.”

His statement comes as investors awaited the Federal Reserve’s upcoming rate decision scheduled for Wednesday. Although it is predicted that the Fed will maintain unchanged rates at this time, there are strong expectations that the US central bank will convey indications about its intentions to begin reducing rates. 

Kiyosaki, is a staunch supporter of the inclusion of Bitcoin, gold and silver in investment portfolios. 

Last week, in a conversation with Andy Schectman, CEO of Miles Franklin Precious Metals Investments, and Charles Goyette, radio host and writer of ‘Red and Blue and Broke All Over,’ Kiyosaki confessed his limited knowledge about Bitcoin.

“I always say ‘gold, silver, and Bitcoin,” he noted, adding, “I know nothing about Bitcoin. I just know some very smart people are in it, and thank God I bought early.”

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Why It Matters: He also emphasized the importance of the forthcoming Bitcoin halving event, urging the public to pay close attention: “A Bitcoin halving is fast approaching. Please pay attention to Bitcoin halving,” he said earlier in the month.

Kiyosaki shared in an Instagram Reel that he is carrying a debt of $1.2 billion. “If I go bust, the bank goes bust. Not my problem.”

Photo Courtesy: Wikimedia Commons

Price Action: At the time of writing, BTC was trading at $42,906.56, down 1.42% in the last 24 hours, according to Benzinga Pro. 

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