Renowned author Robert Kiyosaki has once again endorsed Bitcoin, predicting it could shield against the potential downfall of the US dollar. Kiyosaki, author of Rich Dad Poor Dad, believes the cryptocurrency could mitigate the effects of a declining dollar. His endorsement comes amid speculation about the BRICS alliance's potential creation of a gold-backed cryptocurrency.

Kiyosaki recently announced his presence in South Africa, a founding member of the BRICS alliance. He noted that the government has outlined plans for the creation of a BRICS cryptocurrency, which could potentially use gold as collateral. This development could put pressure on the US dollar, as the BRICS alliance controls a significant portion of the dollars used in international oil trade.

If the BRICS gold crypto asset materializes, it could render the fiat currency obsolete, leading to a domino effect and encouraging the reintroduction of the currency to the US market. Kiyosaki warns that this could fuel hyperinflation, causing the dollar to lose value and impacting people's purchasing power. To prepare for a potential macroeconomic collapse, Kiyosaki recommends investing in assets with a proven track record, such as Bitcoin, gold, and silver.