KEY POINTS

  • 'Rich Dad Poor Dad' author reveals he is buying more Bitcoin, Ether
  • Kiyosaki has touted his preference for Bitcoin repeatedly
  • He has also tweeted about rising inflation regularly

The author of the New York Times bestseller 'Rich Dad Poor Dad' has revealed plans to buy more Bitcoin and Ethereum, among other assets, amid rising inflation.

In a tweet last week, Robert Kiyosaki said, "Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer. Get smart. Get richer. I am buying more gold, silver, bitcoin, ethereum, rental real estate, and oil."

At the time of the tweet, Bitcoin was trading at about $56,267, while Ether was hovering around $4,200 based on data from Bitcoin.com Markets. The price of Bitcoin was $56,637 at 2:10 a.m. ET on Tuesday and Ether was trading at $4,410.

Inflation in the U.S. has risen to a 30-year high, pushing up prices and straining the wallets of the citizens. The annual rate of inflation from October 2020 to October 2021 touched 6.2%.

This is not the first time that Kiyosaki has warned about inflation. He has previously done the same on several occasions and has also been recommending Bitcoin for quite some time.

Last month, the best-selling author tweeted that President Joe Biden and the Federal Reserve are “ripping off poor people,” predicting that the U.S. is sliding into a depression. He added that Biden and the Fed “need inflation to prevent new depression,” and claimed that the two are “corrupt.” He recommended that people should buy gold, silver and Bitcoin.

In September, he touted his preference for crypto investments in a series of tweets — one of them saying, “Get gold, silver, Bitcoin, ethereum before the biggest crash in history.”

'Rich Dad Poor Dad' is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has ranked on the New York Times Best Seller List for over six years.

Bitcoin prices Bitcoin prices have risen ahead of the launch of a new investment vehicle on the New York Stock Exchange linked to futures of the cryptocurrency Photo: AFP / Ozan KOSE