Benzinga | Aug 28, 2021 11:12AM EDT

'Rich Dad Poor Dad' Author Robert Kiyosaki Buys Crypto At Gold's Expense

"Rich Dad Poor Dad" author Robert Kiyosaki is now buying cryptocurrencies at the expense of his gold investments, and recommends the readers of his newsletter to do the same.

What Happened: In a recent email sent to his newsletter subscribers, Kiyosaki said that he buys cryptocurrency. He added: "In fact, I've slowed down my gold buying to get more cryptocurrency. Maybe you should consider that too."

Kiyosaki highlighted the importance of United States crypto exchange Coinbase Inc. (NASDAQ:COIN) going public earlier this year. He explained that he does not expect to buy the firm's stock in the future, but to him this company going public means that "cryptocurrency is entering the mainstream." Crypto going mainstream, on the other hand, means that "it is one step closer to helping the world when the dollar collapses."

For this reason, Kiyosaki notes that Coinbase's direct Nasdaq listing "was GREAT news for Bitcoin" (CRYPTO: BTC) that "gave more credibility and stability to crypto." He also explained that he believes that there is still time to learn about cryptocurrencies and get educated about them. According to him, there is still a chance for newbies to invest as informed investors instead of just gambling with digital assets.

This email echoes some past messages sent by Kiyosaki to his followers. In early August, for instance, he wrote that the United States dollar is dying and Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) will rise out of their ashes.