Fiat money will lose its significance to precious metals and cryptocurrencies in the coming decades

Fiat money will lose its significance to precious metals and cryptocurrencies in the coming decades, said Robert Kiyosaki, best selling author of “Rich Dad Poor Dad” and his latest book “Why The Rich Are Getting Richer.”

A self-proclaimed gold bug, Kiyosaki is one of the few investors to be bullish on both Bitcoin and gold. In an exclusive interview with Kitco News, he said that Bitcoin will slowly erode fiat currencies’ relevance, while gold “has been there since eternity,” and will also be an important hedge instrument.

”I’m writing this new book called ‘Fake,’ Kiyosaki said, “It’s really about what’s real. When I talk to people, I say, what do you think will be here in 2040? Will gold still be here? Well, it’s been here since eternity. Will the dollar be here? I don’t think so. Will blockchain be here, I think so. That’s really the way I look at the world of money and currencies is what’s going to be here in 22 years.”

Talking the markets, Kiyosaki said that a crash is imminent. “There are two kinds of bubbles, equity bubbles, and debt bubbles, and we’ve been in a debt bubble since 2004. When a debt bubble comes down, they come down in an avalanche.”