BITCOIN AND THE PSYCHOLOGY OF WEALTH: ROBERT KIYOSAKI ON WHY MOST PEOPLE STAY POOR

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, believes the biggest reason people remain poor isn’t a lack of opportunity—it’s the Fear of Making Mistakes (FOMM). In a recent tweet, he warned that this fear prevents many from taking advantage of what he calls the greatest wealth creation event in history: Bitcoin.

Fear of making mistakes vs. Fear of missing out

Most investors are familiar with FOMO (Fear of Missing Out)—the rush to invest when an asset is soaring. However, Kiyosaki argues that FOMM is even more damaging. “The biggest opportunity in history is here… Bitcoin has made it easy for everyone to become rich… Yet most people with FOMM will miss one of the greatest wealth creations in history,” he wrote.

He predicts that Bitcoin’s price will surge past $200,000 this year, but those with FOMM will hesitate and later say, “Bitcoin is too expensive.” Meanwhile, the FOMO crowd will accelerate their investments, creating generational wealth.

Learning from Bitcoin advocates and skeptics

Kiyosaki advises people to educate themselves by following both Bitcoin supporters and critics. “Don’t take my word for it. Listen to the people I follow and learn from them,” he said, naming figures like Jeff Booth, Michael Saylor, Samson Mow, Max Keiser, and Kathy Wood. He also encourages people to listen to Bitcoin skeptics before making a decision.

Schools vs real-world financial education

For Kiyosaki, traditional education fails to teach financial intelligence. He argues that schools discourage risk-taking, conditioning students to fear mistakes. “Most of this crowd are not stupid. Many are highly educated… yet have been taught in our schools that people who make mistakes are stupid,” he wrote. Using a simple analogy, he compared financial learning to how babies learn to walk—by falling and trying again.

The best financial education is free

Kiyosaki believes that the best financial education is now available outside of schools and Wall Street. “The best news is… the most important financial education is on YouTube… and it’s FREE,” he noted.

His message is clear: Overcome FOMM, seek financial education, and take control of your financial future before it’s too late.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)