Robert Kiyosaki Calls TRUMP Coin a ‘Farce,’ Says Crypto World Is Becoming ‘Tyrannical’

As the cryptocurrency community digests President-elect Donald Trump‘s controversial launch of the Official Trump (TRUMP) meme coin, author and investor Robert Kiyosaki has shared a skeptical view on the development.

Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ has expressed skepticism over the recent launch of the Official Trump (TRUMP) meme coin, arguing that the cryptocurrency sector is devolving into a “farce.”

In an X post on January 19, Kiyosaki offered a brief commentary on the Trump coin but highlighted his broader perspective on the crypto landscape.

According to the author, the sector is shifting away from its initial goal of becoming the “future” of finance and is instead transforming into a parody of itself.

With the emergence of celebrity-endorsed tokens like TRUMP, which lack substantial underlying fundamentals, Kiyosaki asserted that the crypto world is becoming “tyrannical.”

“What do I think about TRUMP COIN? Not much. Unfortunately, the whole crypto world is becoming a “tranny” transforming from the “future” to a “farce.” I hold my course buying real Gold, real silver, and real Bitcoin. As a personal rule I do not invest in any ETFs. I am old…,” Kiyosali wrote.

The financial educator used the opportunity to once again highlight his investment philosophy, which emphasizes tangible assets like gold, silver, and Bitcoin (BTC) over other products, including exchange-traded funds (ETFs).

Kiyosaki has remained bullish on these three commodities, viewing them as optimal stores of wealth, especially amid his prediction of an impending market crash.

The launch of the Trump coin has sparked varied reactions within the cryptocurrency community. Some express enthusiasm for the potential gains, while others voice ethical concerns.

The coin, which was unveiled on the Solana (SOL) network, experienced a rapid surge in value, rising by about 30,000% to reach a peak of $75 on January 19.

However, TRUMP later faced a significant correction, losing nearly 50% of its value and dropping to $40 at one point before recovering.

The drop was reportedly caused by investors shifting capital to another new meme coin, MELANIA, which was launched by incoming First Lady Melania Trump and also saw a meteoric rise.

Later in the week, TRUMP’s price recovered following news of major trading platforms continuing to list the coin. Among the latest was Robinhood (NASDAQ:HOOD), which joined other exchanges like Bitget, KuCoin, and Kraken in offering the asset.

The coin’s structure, which includes 80% of its supply in Trump’s wallet and a lack of lockup periods, has raised concerns about potential market manipulation and a possible “rug pull.”

Cryptocurrency scam investigator Stephen Findeisen (Coffeezilla) highlighted these ethical concerns and speculated that incoming regulators may shield the project from legal consequences.

Overall, given Trump’s pledge to lead cryptocurrency growth in the U.S. once he takes office, the decision to launch a highly speculative asset with no underlying value raises questions about its impact on more established entities like Bitcoin.

At press time, TRUMP was valued at $57, having dropped nearly 9% in the past 24 hours. Its market capitalization stood at about $11.45 billion.

After dipping on Sunday, the coin appeared to be poised for further growth, potentially driven by any hype surrounding Trump’s January 20 inauguration.

Like other meme cryptocurrencies, the coin is precarious due to the volatility associated with such an asset. However, as the first meme token launched by a U.S. president, it remains to be seen which direction the coin will ultimately take.

The image featured is from Ben Shapiro’s YouTube.