"Author of 'Rich Dad Poor Dad' Explains His Preference for Bitcoin Over Gold"
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Rich Dad, Poor Dad guru, Robert Kiyosaki, is raving about Bitcoin in his latest social media post. The tycoon's argument? Bitcoin's finite supply of 21 million coins sets it apart from gold and silver, making it the superior investment.
Bitcoin's design ensures it's scarce by nature. Gold and silver, on the other hand, risk a surge in supply if mining becomes profitable.
In his own words, Kiyosaki, who owns mines and oil wells, can ramp up production during a market boom. But, with Bitcoin, the hard cap is set in stone, making increasing the max supply all but impossible due to the Bitcoin community's conservatism. Changing the supply cap would require a massive consensus, which seems impractical.
As U.Today reports, Kiyosaki once predicted Bitcoin could soar to $250,000 by 2025.
Few things to know about Bitcoin's limited supply:
- The rigid supply cap, a Bitcoin design fundamentals, creates scarcity, similar to gold's finite nature.
- Bitcoin's mining rewards are halved approximately every four years—creating built-in supply shocks that fuel price increases.
- The final Bitcoin is expected to be mined around 2140, ensuring no new coins enter circulation post-2140.
- Compared to gold and silver, whose supplies grow unpredictably through mining, Bitcoin's capped supply gives it a deflationary attribute, potentially amplifying its value over time as demand grows.
- Bitcoin's digital nature, limited supply, and ease of global transfer have become a hit with a younger generation of investors, who see it as digital gold with added benefits.
- Robert Kiyosaki, the famed author of Rich Dad, Poor Dad, believes Bitcoin's finite supply sets it apart from gold and silver, making it a superior investment.
- Unlike gold and silver, whose supplies can fluctuate due to successful mining, Bitcoin has a hard-capped supply of 21 million coins, making it inherently scarce.
- Alternatively, Kiyosaki, who owns mines and oil wells, can increase production during market booms but with Bitcoin, the supply is set in stone due to the Bitcoin community's conservative approach.
- Bitcoin's deflationary attribute, resulting from its capped supply, could potentially amplify its value over time as demand grows.
