Opening our discussion is none other than Robert Kiyosaki, the acclaimed author of ‘Rich Dad Poor Dad.’ In his recent discourse, he ratified his inclination towards unconventional investment avenues such as Bitcoin (BTC), gold, and silver. He argued that these alternatives are gradually revealing the vulnerabilities in the U.S. dollar.
To substantiate his assertion, Kiyosaki invoked two pivotal economic theories ━ Gresham’s Law and Metcalfe’s Law in a post on January 25. He underscored how Bitcoin is encroaching on a more pronounced role in the financial paradigm.
Understanding Kiyosaki’s Position
Exploring Gresham’s Law ━ the concept that “inferior money crowds out superior money,” Kiyosaki pointed out the tendency of individuals to stash away gold and silver as the value of the U.S. dollar diminishes. Bitcoin, he avers, has now entered this league of “superior money,” thereby putting additional pressure on the challenged “U.S. dollar.”
He communicated his stance clearly, “When INFERIOR money penetrates a system, SUPERIOR money goes into seclusion. Gold and silver have been retreating from the IMPERFECT U.S. dollars for years. Presently, Gold, silver, and Bitcoin are compelling the imperfect U.S. dollar into seclusion.”
Inspecting Metcalfe’s Law ━ a theory that quantifies the strength of networks, Kiyosaki drew parallels between the spurting adoption of Bitcoin and the global triumph of businesses like McDonald’s (NYSE: MCD). The author underscored the potential of network power in enabling fledgling participants to garner influence and wealth, promoting the embrace of capitalism via vehicles such as Bitcoin.
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Kiyosaki’s Dim view on Dollar
Kiyosaki’s assertions echo his longstanding skepticism about the dollar, which he regularly dismisses as ‘counterfeit money.’ Against this backdrop, he has been a staunch advocate for unconventional investments over customary financial instruments.
As per a report by Finbold, Kiyosaki recently expressed his gratitude to Bitcoin investors for their distrust in the U.S. government, Treasury, and Federal Reserve, which he derisively termed a ‘Den of Thieves.’
Kiyosaki, with his contentious perspective and prophesies of an approaching economic slump, keeps pushing for Bitcoin, gold, and silver as perfect assets for safeguarding wealth in uncertain times.
Moreover, with Bitcoin attaining new peaks above $100,000, Kiyosaki urges that it is not too late to amass this leading digital currency. He envisages Bitcoin touching approximately $500,000 by 2025, labeling it as a currency “engineered to enrich everyone,” whether they are pioneers or late entrants.
Interestingly, Kiyosaki has consistently held the view that whenever Bitcoin’s price plummets, it should be seen as an opportunity to acquire more of the asset.
Bitcoin, Gold, or Silver ━ Which is Better?
Despite the prevailing scenario, Kiyosaki regards all three alternatives as equivalent, dismissing the spat between Bitcoin and gold as insignificant. He suggests that such rivalries merely serve to distract attention.
Overall, Kiyosaki’s critique of traditional finance, especially the dollar, potentially ignores the currency’s clout as the current international reserve currency.
While Bitcoin, gold, or silver, which proffer diversification, could potentially unseat the dollar, the currency continues to be a principal actor in the financial theater, notwithstanding possible corrosion from inflation.
Frequently Asked Questions
What does Robert Kiyosaki think about Bitcoin?
Robert Kiyosaki, the author of ‘Rich Dad Poor Dad,’ is a strong advocate of Bitcoin. He believes that Bitcoin, along with gold and silver, can expose the flaws of the U.S. dollar and serves as a better investment.
What is Gresham’s Law?
Gresham’s Law is an economic principle that states, “inferior money crowds out superior money.” This law is used by Kiyosaki to explain how gold, silver, and Bitcoin are superior investments as compared to the U.S. dollar.
What is Metcalfe’s Law?
Metcalfe’s Law is a theory that quantifies the strength of networks. Kiyosaki uses this law to compare the growing adoption of Bitcoin with the success of global businesses.
What is the future potential of Bitcoin according to Kiyosaki?
Kiyosaki predicts that Bitcoin could reach approximately $500,000 by 2025. He believes that this leading digital currency is engineered to benefit everyone, whether they are pioneers or late entrants.
