Key Takeaways
- Robert Kiyosaki, the author of Rich Dad Poor Day, explains why he calls Bitcoin good money and prefers it over cash.
- Kiyosaki stated that Bitcoin’s strong network effect is a significant reason for its value-adding and that Wall Street leaders were also betting on Bitcoin like him.
- Kiyosaki predicts Bitcoin could reach $500,000 amid rising inflation and economic uncertainty.
Robert Kiyosaki, the renowned financial advisor and author of Rich Dad Poor Dad, has disclosed why he believes Bitcoin is good money and the reasons behind his consistent Bitcoin investment.
In an X post that sparked fresh interest on why he supported BTC over fiat currency and other financial assets, Kiyosaki said Bitcoin is a good store of value and aligned with all the established monetary laws.
Bitcoin is Real Money
When asked why most people were poor, Robert Kiyosaki attributed their poverty to violating two key monetary laws, specifically Gresham’s Law and Metcalf’s Law. The author said that per Gresham’s Law, bad money drives good money out of circulation, and in that context, he criticized those who save fiat currencies, calling them “fake money.”
The financial advisor classified Gold, Silver, and Bitcoin as “real money” since they retain value and resist inflation. He added that saving these assets was the best way to help individuals build and protect wealth over time, adding that Bitcoin functioned as a safeguard, especially during economic instability.
$500,000 BTC Price Target
In addition to the Rich Dad Poor Dad author, several other Wall Street leaders are now Bitcoin believers who are also betting on Bitcoin as a Reserve asset. The best example is Strategy Inc. CEO Michael Saylor, whose company is currently the biggest corporate holder of Bitcoin. Early last week, Strategy Inc. bought an additional 7390 BTC for $764 million, bringing its total holdings to 576,230 BTC, which it acquired for $40.18 billion at an average price of $69,726 per BTC.
Referencing a quote from Michael Saylor, Kiyosaki said Saylor advised home to “only invest in things… a rich person will buy from you.” The author has advised his over 2.7 million followers to obey the laws and save Bitcoin. As one of the earliest advocates of BTC, Robert Kiyosaki has never shied away from sharing his insights on the prospects of the pioneer cryptocurrency. Kiyosaki has previously issued a $500,000 BTC price target because hyperinflation is at play.
Conclusion
According to Kiyosaki, Bitcoin’s decentralized network structure is the reason behind its intrinsic value that goes beyond the hype and speculation. As evidence that more and more people now believe in BTC, he highlights the increasing number of successful companies building wealth around Bitcoin after understanding and applying network economics principles. This, he believes, supports his claim that Bitcoin holds a strategic advantage. By the time of writing, Bitcoin was selling at $107,424 after rallying to a new all-time high of $111,970.16 before its first small pullback.
Frequently Asked Questions
Where does Bitcoin get its value from?
Bitcoin is not backed by gold, silver, or government promises. Instead, it draws value from its unique combination of scarcity, utility, decentralization, and trust in the blockchain. This innovative design has made Bitcoin a revolutionary financial technology.
What drives the price of Bitcoin?
Bitcoin’s price is primarily affected by its supply, the market’s demand and availability, competing cryptocurrencies, and investor sentiment. The supply is limited—there is a finite number of bitcoins, and the final coins are projected to be mined in 2140.
How does Bitcoin lose value?
Because Bitcoin’s supply is clearly defined, most changes in Bitcoin’s price are largely driven by changes in demand for Bitcoin and the functionality it offers. When there is a lower demand for Bitcoin’s functionality, its price can decrease.
