Robert Kiyosaki, the best-selling author of the popular book, ‘Rich Dad Poor Dad’ has hailed Bitcoin as the perfect asset. Delving into the digital asset’s distinctive qualities, the financial expert offers a comprehensive comparison between BTC and traditional fiat currencies through a question-and-answer format.
Bitcoin As The Perfect Asset
In a recent X (formerly Twitter) post, Kiyosaki posed a series of questions about Bitcoin, accompanied by answers to each query. When he questioned his stance on BTC, the finance guru unequivocally declared himself a Bitcoin bull, affirming his admiration for the cryptocurrency.
He characterized Bitcoin as the “perfect asset at the right time,” because of its high value and potential in today’s economic and financial landscape.
According to the financial author, BTC could be a scam or a Ponzi Scheme. However, the same could be said about most of the traditional fiat currencies in the world such as the United States Dollar (USD), Euro, Yen and others.
Kiyosaki has branded fiat currencies as “fake,” shedding light on the inconsistencies in the US government’s efforts to stimulate economic and financial growth. The finance expert criticized US political leaders, denouncing them as “incompetent or corrupt or both,” while outlining the economic challenges such as debt and inflation faced by the US.
Despite his pessimistic assessment of fiat currencies, Kiyosaki has remained optimistic about Bitcoin. The financial guru has heralded Bitcoin as a strong network, highlighting that he was super bullish on the cryptocurrency because it applied Metcalf’s law, which states that the value of a network is proportional to the square of its user base. In other words, as more people use Bitcoin, its overall value increases.
Kiyosaki’s Advice To The Crypto Community
In his post, Kiyosaki advises the broader crypto community against investing their funds in the US dollar, urging them instead to save in more valuable and tangible assets like silver, gold and Bitcoin. He emphasized that individuals who saved in “fake money” were at a disadvantage, highlighting the risks associated with investing in a currency vulnerable to inflationary pressures.
Further stressing his views on BTC, Kiyosaki acknowledged the possibility of the cryptocurrency’s future value diminishing to zero. However, he noted that fiat currencies could face a similar risk, highlighting the historical depreciation of thousands of fiat currencies to zero.
As a result, the financial guru has encouraged investors to safeguard their funds by investing in real-world assets like Bitcoin. He has predicted the price of Bitcoin to soar to $100,000 within six months, anticipating the cryptocurrency to potentially rise to this value by September 2024. This forecast underscores the financial author’s bullish outlook on Bitcoin and his unwavering endorsement of the cryptocurrency’s potential.
BTC price recovers above $71,000 | Source: BTCUSD on Tradingview.com
Featured image from Decrypt, chart from Tradingview.com
