[ad_1]
The global financial market is experiencing the greatest shakeup in nearly a century. Amidst the shuffle, one well-known finance author is advocating Bitcoin over other hard assets like gold and real estate. But why?
Rich Dad, Poor Dad Author Urges Investors Toward Hard Assets
Author Robert Kiyosaki is better known as Rich Dad, Poor Dad, based on the title of his 1997 book on finance.
The book made the New York Times bestsellers list for several years, moving over 32 million copies, published in over 51 languages and more than 100 countries.
His advice has been taken by many, which recommends savvy investment strategies and upping one’s “financial IQ.”
The success led to many additional books published by the author, who also regularly spouts advice via Twitter and other platforms.
RELATED READING | THE FED’S LATEST STIMULUS IS IRONICALLY FUELING BITCOIN’S CONTINUED RISE
At the start of the pandemic, Kiyosaki began profoundly encouraging his followers to look into hard assets like gold, real estate, and Bitcoin.
If the current fiat-based monetary system collapses, few investments will retain their value the same as hard assets will that are tied to something real.
These assets also hold their value much better during periods of peak inflation. This type of environment is expected to snowball out of control due to the record and rapid growth of the Fed’s balance sheet.
Kiyosaki has predicted gold will reach over $3,000 an ounce, and Bitcoin could hit $75,000. Since the predictions were made, gold has since soared to a nine-year high over $1800 per ounce.
Bitcoin, however, has traded sideways, but it may finally be the asset’s time to shine.
Why The Finance Guru Is Advocating Bitcoin Over Gold and Real Estate
Bitcoin poised for a breakout into another extended uptrend could be one of many reasons that Rich Dad, Poor Dad author Richard Kiyosaki is now advocating Bitcoin over gold and real estate.
Gold has broken above key resistance and may have the moment to set a new all-time high. Low mortgage rates and lack of supply has kept the real estate market secure despite adverse economic conditions.
But even with the positive performance in these other hard assets, Kiyosaki is now promoting Bitcoin over the precious metal or housing.
RELATED READING | GOLD CHART SHOWS WHY BITCOIN IS THE FASTEST HORSE IN RACE AGAINST INFLATION
In addition to books, Kiyosaki also speaks about finance on his website and podcast. On a recent episode of his podcast, Kiyosaki urged the older generation of investors to look into Bitcoin because gold and real estate are being “phased out.”
Instead, Kiyosaki says that Bitcoin and crypto “is the world that’s coming into view right now,” and investors need to be prepared for what lies ahead.
“Bitcoin and other cryptocurrencies are now challenging the hegemony of the U.S. dollar and other fiat currencies,” he said.
Kiyosaki also educated his audience on the potential impact of the cryptocurrency’s recent halving that took place in May 2020. This event is thought to be the catalyst that kickstarts each Bitcoin bull run.
Coinciding this time around, however, is the largest expansion of national debt in history. Each bout of approved stimulus money designed to prop up the economy is printed out of thin air. This money is nothing but IOUs that will never be paid back.
Meanwhile, only 21 million BTC can or will ever exist, keeping the asset’s supply in check. As the USD supply spins out of control, the implications inflation could have on Bitcoin price is significant.
It is this very reason that Rich Dad, Poor Dad is advocating for Bitcoin over these older, tried and true investments.
Featured image from Shutterstock.
[ad_2]
Source link