Robert Kiyosaki, the renowned author behind the bestselling personal finance book “Rich Dad, Poor Dad,” has taken to X to express his distaste for Warren Buffett’s recent change of heart.
For years, the 95-year-old chairman of Berkshire Hathaway has criticized metals like gold and silver as unproductive assets. According to him, these commodities do not generate income. Kiyosaki noted that the American businessman has suddenly switched to praising “the virtues of gold and silver,” an act the author says makes him “want to vomit.”
Depression Ahead?
Buffett is a long-time supporter of stocks and bonds. He has particularly touted stocks as being a better investment than cash or bonds. However, with his recent attention on gold and silver, Kiyosaki projects that the stock and bond markets could crash soon.
“Even though Buffet shit on gold and silver investors like me for years, his sickening endorsement of gold and silver must mean stocks and bonds are about to crash,” he said.
Some of Kiyosaki’s followers stress that Buffett’s action is probably a way of redeploying the $344 billion cash pile that Berkshire Hathaway is currently holding.
Kiyosaki Advocates for Metals and Crypto
Ending his tweet, Kiyosaki emphasized that he would take Buffett’s advice and buy gold and silver. He added that he would accumulate bitcoin (BTC) and ether (ETH). Notably, the renowned author rarely mentions ETH among his investment choices. Adding Ether to his list this time shows that he is bullish on the recent performance of the second-largest crypto.
Buffett, on the other hand, has long been opposed to cryptocurrencies. He has even called Bitcoin a “rat poison squared” and a gambling token. Notwithstanding, he has invested in stocks linked to cryptocurrencies.
With the 95-year-old businessman changing his view on gold and silver, some onlookers speculate that he might do the same with Bitcoin and the broader crypto market.