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This renowned writer and financial educator explained his preference for Bitcoin over gold and other precious metals.
Renowned financial educator Robert Kiyosaki is well-known for his admiration for Bitcoin as an asset class. Kiyosaki even advises investors to allocate at least $500 into this leading cryptocurrency and predicts its price to reach as high as $300,000 in the coming years.
However, in a recent post, the famous author clarified why he strongly believes in Bitcoin over precious metals like gold and silver in his investment portfolio. Robert Kiyosaki pointed out that while the value of gold and silver may appreciate, their growth is limited by the discovery of new precious metal deposits.
Kiyosaki clarified that he invests in gold and silver and owns mines for them. Additionally, he invests in oil and owns oil wells as investments. Nevertheless, he views Bitcoin as a superior asset due to its fixed supply.
On Twitter, Kiyosaki explained to his 2.5 million followers that even if the price of Bitcoin continues to rise, it won't increase the supply because only 21 million coins will ever be issued. Clearly, most of his followers understand this point, with some comments emphasizing that Bitcoin is a truly scarce asset, made even more unique by factors like the four-year halving cycle.
"I like gold & silver. I own gold mines & silver mines. The problem with gold & silver is... the higher the price, the more gold & silver is found. Oil too. I own oil wells. Not so with Bitcoin. No matter how high Bitcoin goes, there is only... - Robert Kiyosaki"
Robert Kiyosaki remains a staunch believer in Bitcoin
Robert Kiyosaki's recent comments on Bitcoin are not surprising to those who have been following this famous author's attention to the cryptocurrency over the past few years. Even when Bitcoin began its notorious decline in 2022, Kiyosaki reminded his followers that crashes are typically the best times to get rich with Bitcoin.
On other occasions, Kiyosaki criticized the Federal Reserve for devaluing the dollar. This famous author urged his readers to save in Bitcoin as a hedge against failing fiat currencies.
Following Bitcoin's recent surge, Robert Kiyosaki has identified the window from January to March as an opportunity before prosperity for gold. He predicts that by 2025, Bitcoin will rise to $500,000, more than six times the current market value of around $67,000. |
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Post time 27-3-2024 07:49:57