Robert Steinadler, 2 months ago
Robert Kiyosaki is a star author and investor. His book “Rich Dad Poor Dad” resonated with a whole generation of investors and his remarks on social media reach out to thousands of people worldwide. Kiyosaki is known for being a strong proponent of Bitcoin and his long-term view on BTC as an investment hasn’t changed.
Why is Kiyosaki still bullish on Bitcoin in 2023 and what have been his recent remarks on the economy?
Kiyosaki made it clear in several podcast appearances that he does not believe that Jerome Powell and the FED are going to fix the economy. He believes that a crash might be inevitable and that even such horrible events offer opportunities to investors.
According to him, he made most of his money when the markets crashed the last time which was between 2008 and 2009. Ironically, this is exactly the time Bitcoin was born and its inventor Satoshi Nakamoto had the problems that were imminent at that time in mind when he designed Bitcoin as sound money.
The difference between now and then is, that we have faced a tremendous bull run that lasted for over a decade. Almost all assets appreciated and created generational wealth for those who invested at the bottom of the 2008 crisis.
In a recent podcast episode, Kiyosaki called Bitcoin the people’s money. Meaning that its qualities are protecting retail investors from the effect that their purchasing power is diminished. The author already made it crystal clear last year that he would remain bullish on Bitcoin despite the crisis the market was going through after the FTX crash.
It remains to be seen if Kiyosaki’s thesis is proven to be correct. He thinks that the Dollar has no value and is fake money that can be printed out of thin air and that such a system is not sustainable. Bitcoin, gold, and silver on the other hand have a finite supply and cannot be inflated. Bitcoin might be the scarcest asset because it is mathematically impossible to create more than roughly 21 million BTC.
Gold and silver on the other hand might increase their total supply if new sources are found and exploited. Kiyosaki thinks that there might be a point that forces the FED to pivot and print trillions of Dollars again. It is this moment when Bitcoin could start its next bull run. Kiyosaki is not alone in expecting this outcome. Arthur Hayes has also voiced in several articles that the FED could simply be forced to turn its policy upside down.
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