Best-selling author Robert Kiyosaki has responded to Berkshire Hathaway’s Charlie Munger’s comments and criticisms of cryptocurrency.
In a new interview with Daniela Cambone of Stansberry Research, Kiyosaki addresses Munger’s comments that there was no good argument in favor of crypto, and that trying to replace the national currency was like “trying to replace the national air.”
[adinserter block="1"]Munger also said that those who oppose his view are “idiots” and that he is “ashamed of his country” for allowing the industry to continue operating.
In response, Kiyosaki says,
“Charlie Munger’s an old man like me. We’re about the same age… We’re in the same category.
When I wrote this book here ‘Who Stole My Pension?,’ my concern here was that the Boomers are the biggest generation in history. And when their pensions go, it’s going to suck cash out of the stock market. So Charlie will still probably say ‘Buy stocks.’ But the reason I like crypto, is not because of Bitcoin, it’s because of blockchain, and blockchain is an accounting system. It’s more legitimate than the Fed or the Treasury or Wall Street. So Charlie Munger is in the Fed/Treasury/Wall Street crowd, and the younger generations, millennials and below, are in the iPhone crowd.
[The iPhone] is the most powerful tool I’ve ever seen. I still don’t know how to use it because I’m an old guy. But this thing here is the most powerful tool I’ve ever seen in history. There are more tools coming, but this thing here, this iPhone, I can call anybody in the world, like that. It’s amazing what can be done. So the younger generation is on this thing, while Charlie Munger is on the Fed, Treasury and Wall Street.”
Kiyosaki recently predicted that by 2025, the economy will be in a depression that sends gold, silver and Bitcoin (BTC) flying. He gave a price target for BTC of $500,000.
“Giant crash coming. Depression possible. Fed forced to print billions in fake money.
By 2025, gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold and Silver god’s money. Bitcoin [is the] people’s money. Take care.”
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