Bitcoin’s latest critic is none other than Warren Buffett, one of the world’s most famous investors, calling Bitcoin “gambling,” warning that a major crash could wipe out millions of investors.
But Robert Kiyosaki, author of Rich Dad Poor Dad, has fired back, defending Bitcoin as “people’s money” and accusing Wall Street of selling “fake assets.”
Buffett Calls Bitcoin Gambling,” Not Investing
In a recent discussion, Warren Buffett repeated his long-held criticism, saying Bitcoin is “not investing,” but simply speculation, even comparing it to gambling.
He warned that a blow-off top could wipe out millions of Bitcoin holders, urging investors to stay with traditional assets like stocks and bonds.
For many years, Buffett has trusted Wall Street and the U.S. financial system. He sees them as the safest and most stable ways to grow wealth. His view is simple, trust official institutions, trust the U.S. dollar, and trust markets that have strong rules and long histories.
From Buffett’s point of view, anything outside these traditional systems, especially crypto, looks too risky and unpredictable.
Kiyosaki says Bitcoin – a People’s Money
Responding to the Buffett criticism, Robert Kiyosaki quickly responded online, strongly disagreeing with Buffett’s position. Kiyosaki argues that even the assets Buffett promotes, stocks, bonds, and Wall Street products, crash too, and sometimes far worse.
According to him, the difference is not about risk, but about trust.
Kiyosaki explains that he invests in Bitcoin, Ethereum, gold, and silver because he does not trust the Federal Reserve, the U.S. Treasury, or Wall Street. He believes these institutions maintain a system built on money that can be printed endlessly, which he calls “fake money.”
In contrast, he refers to real gold and silver as “God’s money” and bitcoin as “people’s money,” because no government or bank can create more of it.
Kiyosaki Challenge to Buffett’s Worldview
Kiyosaki makes a strong point by saying you can’t live in a paper house, drive with paper fuel, or eat paper food. So why trust paper assets created by institutions that profit from inflation?
He adds that the U.S. can print endless dollars, while Bitcoin will always be limited to 21 million.
However, Kiyosaki recently predicted that Bitcoin will reach $250,000 in 2026. If this turns out to be true, it would mean a massive 160% jump from today’s price of around $95,600.
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