BTC Only! Robert Kiyosaki Rejects Gold and Silver for Bitcoin
Robert Kiyosaki, the author of the best seller book, Rich Dad Poor Dad has come out clear again. In a recent X post that was popularized by Bitcoin historian Pete Rizzo, Kiyosaki said that given a choice between any one asset, he would go with Bitcoin, not gold, not silver, but BTC alone. This statement immediately caught the attention of people because Kiyosaki had a long track record of promoting hard assets as a means of protection against debasement of fiat currency. Bitcoin, in its turn, has a fixed limit of 21 million coins which makes its scarcity a reality instead of a notion. Such a set issuance schedule, in his opinion, puts Bitcoin in an upper structural hand over precious metals.
A Long-Time Bitcoin Advocate
Over the course of numerous market cycles, he has positioned Bitcoin as the better form of money in one where the governments have engaged in constant increase of fiat supply. His uniformity in message delivers has seen BTC establish itself as a fundamental component of the larger sound money story.
Although Kiyosaki argues that Bitcoin has an upward potential, the critics usually mention its volatility. The price movements in Bitcoin are still very large in comparison with those of gold or silver. But the advocates believe that volatility is the price of asymmetric returns. The historical records indicate that Bitcoin has brought disproportionate long-term returns, which is much higher than conventional resources, even in the case of severe drawdowns.
Performance History Fuels the Conviction
The long-term performance of Bitcoin supports the arguments by Kiyosaki. Despite the fact that the history of performance does not correlate with the future performance, such history strengthen the reasons why Bitcoin keeps gaining high-profile endorsements despite the constant risks.
The message by Kiyosaki is symptomatic of a wider change in macro-investors. Instead of gaining some amounts of a variety of hard assets, people are now considering Bitcoin as a single tool of protection against the debasement of money. Although such a strategy is not risk-free, the recommendation of prominent people such as Kiyosaki still has an impact particularly in times of economic uncertainty.
The post BTC Only! Robert Kiyosaki Rejects Gold and Silver for Bitcoin appeared first on Coinfomania.
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