Renowned author Robert Kiyosaki, best known for his personal finance book ‘Rich Dad, Poor Dad,’ has once again expressed his conviction that traditional fiat currencies are on the path to obsolescence, while cryptocurrencies are poised to become the future of money. During the TOKEN2049 conference in Singapore, Kiyosaki took to the social media platform X to share his thoughts, declaring “Crypto is the future” and referring to fiat currency as “FAKE money” and “toast.” He has openly admitted to owning Bitcoin (BTC) and views cryptocurrencies as a crucial hedge against the devaluation of traditional currencies due to factors such as inflation and government monetary policies. The crypto market is currently facing its own set of challenges, with pressure stemming from the liquidation of FTX, a major cryptocurrency exchange, which has announced its plans to divest its crypto assets totaling a staggering $3.4 billion by the end of 2023. To mitigate potential negative impacts on crypto prices, FTX has imposed a weekly cap of $100 million on its asset sales. Kiyosaki’s unwavering support for cryptocurrencies as the future of money continues to make waves in the financial world. However, the crypto market’s current challenges highlight the need for a cautious and balanced approach to navigating this rapidly evolving landscape.

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Information	Details
Geography	Asia
Countries	🇸🇬
Sentiment	positive
Relevance Score	9
People	Robert Kiyosaki, Solana, FTX
Companies	Solana, Bitcoin, Ether, TOKEN2049, TradingView.com, FTX
Currencies	Solana, Bitcoin, Ethereum, US Dollar, Singapore Dollar
Securities	None