Continuing public support for Bitcoin, “Rich Dad Poor Dad” author Robert Kiyosaki says that Bitcoin, gold and silver will win big after the pandemic is over.
Bitcoin (BTC) ultimately stands to go parabolic after the coronavirus ends, the author of the world’s bestselling personal finance book says.
In a tweet on April 15, Robert Kiyosaki, who penned “Rich Dad Poor Dad,” argued that the coronavirus pandemic was “great” for Bitcoin.
Kiyosaki: BTC among “best investments”
The largest cryptocurrency, which has broadly stabilized since crashing to $3,700 in mid-March, is now one of the “best investments” available.
“US gov printing $10 trillion in FAKE US $ to save US. FED printing $10 trillion to save SHADOW Banks,” Kiyosaki summarized. He added:
“Dollar in BULL market for now. When $ BEAR market begins GOLD SILVER BITCOIN parabolic. Best investments today. DO NOT MISS OUT.”
Gold versus Bitcoin 3-month chart. Source: Skew
The popular post capitalized on a narrative that has become increasingly prevalent among Bitcoin supporters and further afield. Despite millions seeking unemployment benefits, stock markets are paradoxically rising.
As Cointelegraph reported, theories behind this center on governments and central banks using coronavirus to create what RT host Max Keiser refers to as “neo-feudalism.”
Central banks buying equity — on a dubious legal pretext — enriches the minority and keeps major market players financially buoyant while all other participants lose out.
Bitcoin beats precious metals’ credentials
The solution is Bitcoin, which Kiyosaki recently highlighted a way to opt-out of the fiat model.
“The reason I endorse Bitcoin is just for one frickin’ reason: You’re not part of the system,” Cointelegraph quoted him as saying.
Gold, meanwhile, has already enjoyed a major boost to near its all-time highs from 2011. Even silver, which is less “hard” as money than gold and Bitcoin, has enjoyed a strong resurgence since March.
As noted by Saifedean Ammous, author of the popular book “The Bitcoin Standard,” however, silver is ultimately easy to produce compared to gold, and therefore cannot constitute an attractive money solution.
Bitcoin is the “hardest” form of money, as it is the first form of money that humanity cannot manipulate to produce more quickly. Unlike gold, production of which is limited only by human time, it also has absolute scarcity.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.