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Robert Kiyosaki says he likes Bitcoin because ‘no matter how expensive Bitcoin is, there will only be 21 million of them’
Robert Kiyosaki, author of “Rich Dad Poor Dad,” is a legend in the world of finance and investing. His book has sold more than 40 million copies worldwide and changed the lives of many people. Although the book was originally published in 1997, decades before Bitcoin was created, his financial knowledge provided him with a solid platform to discuss Bitcoin with his followers.
Kiyosaki is a known Bitcoin advocate and owns it himself. He made strong predictions about Bitcoin, saying it could hit “$100,000 by June” and that “The biggest mistake you can make is procrastinating“buy Bitcoin.
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More recently, in a post onKiyosaki discusses the main differences he sees between Bitcoin and other assets, such as gold and silver.
“I like gold and silver. I own gold and silver mines. The problem with gold and silver is…the higher the price goes, the more gold you find and money,” he posted. “It’s the same with oil. I also own oil wells. That’s not true with Bitcoin. No matter how much Bitcoin costs, there will only ever be 21 million. That’s why I like Bitcoin.”
Kiyosaki’s main argument in his article revolves around the supply of Bitcoin. With other assets, such as stocks, gold, and oil, supply can constantly change based on market conditions and human involvement. This means that the price of the asset is not simply a function of purchasing activity but is also partially determined by human interaction with the supply.
Bitcoin is the opposite, according to Kiyosaki. Bitcoin uses a fixed supply system, so a predetermined amount of Bitcoins are released into the market with each block. This amount is also halved every few years, meaning the supply increases at a decreasing rate. This will ultimately lead to the supply capping at 21 million tokens by an estimated date of 2140.
Tendency : Bitcoin at $100,000? Here’s what Peter Schiff said about the gold bug potentially happening on Anthony Pompliano’s podcast.
Kiyosaki’s opinion that Bitcoin will reach a supply of 21 million tokens without any problems is not shared by everyone. It is possible that the offer may deviate from its current price.
The only way the supply could change would be if a 51% attack occurred against Bitcoin. This occurs when a miner or group of miners controls more than half of the network’s hash rate. This would allow them to accept any changes to the source code, meaning they could propose a change to the provision in the source code and accept it themselves.
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A 51% attack on Bitcoin is extremely unlikely, and it would likely take governments or large corporations coming together to accomplish such a feat.
Kiyosaki’s opinion on a supply limit of 21 million tokens on Bitcoin is probably true. However, if Murphy’s Law were to apply, that anything that could go wrong will go wrong, a 51% attack could theoretically occur.
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This item Robert Kiyosaki says he likes Bitcoin because ‘no matter how expensive Bitcoin is, there will only be 21 million of them’ originally appeared on Benzinga.com
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