BRICS to Launch Gold-Backed Currency: US Dollar May Become Obsolete

• Robert Kiyosaki, the author of Rich Dad Poor Dad, predicts that the US Dollar may become obsolete due to a new gold-backed currency being created by BRICS.
• Kiyosaki believes that if this new currency is launched, it could cause the US to lose its status as the world’s reserve currency.
• He also states that Bitcoin will likely be a big beneficiary of this shift and will become more widely used if large institutions such as Standard Chartered Bank get involved in the space.

US Dollar Near End of Lifespan

Robert Kiyosaki, author of best-selling personal finance series Rich Dad Poor Dad, says that the US Dollar is nearing the end of its lifespan as a coalition of nations gets ready to launch a new gold-backed currency. In a new episode of The Rich Dad Radio Show, Kiyosaki claims that if this new currency is adopted, it could cause the US to lose its status as the world’s reserve currency.

BRICS To Launch Gold-Backed Currency

BRICS (Brazil, Russia India China South Africa) are set to launch their own gold backed currency at an upcoming conference in Johannesburg. According to Kiyosaki, this move could be what causes the US to lose it status as reserve currency and he believes that “the U.S Dollar is toast” if BRICS goes through with their plan.

Bitcoin Could Benefit From Shift

Kiyosaki is a vocal Bitcoin bull and believes BTC may be one of the biggest beneficiaries from this changing geopolitical landscape. He states that once big institutions join crypto ecosystem such as Standard Chartered Bank, then it will become much easier for people to value and use Bitcoin. Currently Standard Chartered Bank has predicted that BTC will hit $50 000 by 2023 and reach $120 000 by 2024–although Kiyosakai does not guarantee these projections himself.

Adoption Key To Cryptocurrency Growth

In order for cryptocurrency such as Bitcoin to truly gain mainstream acceptance and widespread adoption there must be backing from large institutions like banks or governments which can provide credibility and trustworthiness amongst potential users. With large financial entities entering crypto markets we may see more people join cryptocurrency ecosystems in search of higher returns with less risk than traditional investments offer them today.


Whether Robert Kiyosaki’s predictions about BRICS launching their own gold backed currency come true or not remains to be seen but his outlook on cryptocurrencies such as Bitcoin still stands–with mainstream adoption key for their success going forward into 2020’s and beyond!