In a recent post on X, author and investor Robert Kiyosaki publicly dismissed the longstanding criticisms of Bitcoin by Warren Buffett and Charlie Munger, two influential figures on Wall Street. Kiyosaki said that the weight of their opinions shouldn’t matter to the crypto community. The Rich Dad Poor Dad author’s remarks came in response to Buffett and Munger’s longstanding anti-Bitcoin stance. Buffett, in particular, has consistently derided Bitcoin as a speculative asset, famously calling it a “rat dropping.” Warren Buffett and Charlie Munger call Bitcoin “rat droppings.” What do I think? Buffett and Munger are very old, very rich men. Why should I care what they think about Bitcoin? Most importantly I’d “What do you think about Bitcoin?” I agree with Buffett and Munger when… — Robert Kiyosaki (@theRealKiyosaki) January 1, 2025 In a 2018 Yahoo Finance interview , the Berkshire Hathaway chair questioned the utility of Bitcoin, arguing that its value is purely driven by the hope that others will pay more for it. At the 2022 annual meeting, Buffett reiterated his rejection of Bitcoin, stating that even if he were offered all the Bitcoin in the world for $25, he would not take it. “ I’d have to sell it back to you one way or another,” he explained. “It isn’t going to do anything .” Munger and Buffet remain strong critiques of Bitcoin Charlie Munger, Buffett’s longtime business partner, shares similar sentiments about Bitcoin. He has previously referred to the cryptocurrency as “evil” for its potential to destabilize the US financial system and harm its standing in comparison to nations like China, which has cracked down on Bitcoin trading. Munger’s criticism escalated in 2023 when he referred to crypto assets as “crypto shit” during the Daily Journal Corporation annual meeting. Kiyosaki believes that even though the two businessmen’s personal views on Bitcoin are flawed, they carry the principle of understanding what crypto investments mean, which he termed as “to know, study, and understand what you invest in.” However, the prominent author, who has reportedly accumulated wealth through a diversified portfolio that includes Bitcoin, real estate, gold, and silver, reiterated that their age and wealth make their perspectives on Bitcoin less relevant. He questioned, “ Why should I care what they think about Bitcoin? ” asserting that Bitcoin has been instrumental in his financial success. Kiyosaki’s Bitcoin forecast: $350,000 by 2025 Meanwhile, the American businessman and author recently made a bold price forecast for Bitcoin, predicting that the cryptocurrency will reach an extraordinary $350,000 by 2025, driven by what he sees as strong institutional interest in the asset. In particular, Kiyosaki pointed to recent Bitcoin outflows from investment giants like BlackRock, which he interprets as a sign of upcoming growth. According to the business mogul, BlackRock’s attempts to suppress Bitcoin’s price below $100,000 are part of a larger strategy designed to allow institutional investors to accumulate Bitcoin before its price surges. This belief is in sharp contrast to the views of other Wall Street leaders, such as Jamie Dimon, the CEO of JPMorgan Chase, who has repeatedly criticized Bitcoin. Dimon has called Bitcoin a “fraud” and referred to it as a “pet rock,” dismissing it as a worthless investment. His skepticism extends to the broader cryptocurrency market, which he has labeled a “decentralized Ponzi scheme.” Despite the CEO’s personal disapproval, JPMorgan has facilitated Bitcoin ETF trading, showing that Dimon’s firm, like many others on Wall Street, is willing to profit from the cryptocurrency market despite its leader’s reservations. However, Kiyosaki has made it clear that he prefers holding the cryptocurrency directly in a digital wallet rather than investing in Bitcoin exchange-traded funds (ETFs). This stance sets him apart from some institutional investors who have chosen to gain exposure to Bitcoin via products like BlackRock’s Bitcoin ETF. He insists that investing in Bitcoin as a direct, decentralized asset is much more viable than something “mediated by traditional financial instruments.” From Zero to Web3 Pro: Your 90-Day Career Launch Plan
