Although Robert Kiyosaki, the renowned investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ is a big fan of gold and silver, he has recently admitted that the maiden cryptocurrency Bitcoin (BTC) might have an advantage over these precious metals.
As it happens, Kiyosaki acknowledged that, despite his love for gold and silver, as well as his owning of gold and silver mines, there was a problem with these precious metals that Bitcoin doesn’t have – the seemingly unlimited supply, as he explained in an X post on March 14.
Indeed, according to the finance educator:
Picks for you
“The problem with gold and silver is…the higher the prices go, the more gold and silver is found. Same with oil. I own oil wells, also. No matter how high the price of Bitcoin goes, there will only be 21 million ever. That’s why I love Bitcoin.”
21 million Bitcoin cap
Specifically, Kiyosaki was referring to the fact that the elusive Bitcoin creator Satoshi Nakamoto set Bitcoin’s supply at 21 million tokens so that there can only ever be 21 million BTC in existence to ensure the deflationary nature of the asset and set it apart from fiat currencies.
In other words, the flagship decentralized finance (DeFi) asset’s limited quantity, which Satoshi incorporated into its source code, ensures Bitcoin’s scarcity and prevents inflation or manipulation, as is the case with traditional currencies. The halvings also reduce the new Bitcoin creation rate through mining.
How did Robert Kiyosaki make his money?
As a reminder, Robert and his wife, Kim Kiyosaki, have built a financial education empire that extends to board games, courses, and coaching in finances and investing, while Robert himself often recounts his experience of buying gold behind enemy lines in Vietnam when he was in the Marine Corps.
The husband and wife duo are also the authors of numerous books about personal finance, but it was the ‘Rich Dad Poor Dad’ that catapulted them to fame over 25 years ago, and they have since launched The Rich Dad Channel podcast, which often hosts experts from the fields of finance and investing.
Meanwhile, Robert and Kim Kiyosaki’s favorite crypto asset, Bitcoin, was at press time trading at $65,881, recording a decline of 10.24% in the last 24 hours and adding up to the 0.15% drop on its weekly chart while still holding onto the 32.60% gain in the last month.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
