Robert Kiyosaki, author of “Rich Dad Poor Dad,” is a legend in the finance and investing community. His book has sold more than 40 million copies worldwide and changed the lives of many. Though the book was originally published in 1997, decades before Bitcoin was created, his financial knowledge has given him a strong platform to discuss Bitcoin with his followers.
Kiyosaki is a known advocate for Bitcoin and owns some himself. He has made strong predictions about Bitcoin, saying that it could reach “$100K by June” and that “the biggest mistake you can make is to procrastinate” buying Bitcoin.
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Most recently, in a post on X, Kiyosaki discusses the main differences he sees between Bitcoin and other assets, such as gold and silver.
“I love gold and silver. I own gold and silver mines. The problem with gold and silver is … the higher the prices go, the more gold and silver is found,” he posted. “Same with oil. I own oil wells also. That is not true with Bitcoin. No matter how high the price of Bitcoin goes there will only be 21 million ever. That’s why I love Bitcoin.”
Kiyosaki’s main argument in the post revolves around the supply of Bitcoin. With other assets, such as stocks, gold and oil, the 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 buying activity but is also partially determined by human interaction with 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 each block. This amount is also halved every few years, meaning that the supply is increasing at a decreasing rate. This will ultimately lead to the supply capping at 21 million tokens at an estimated date of 2140.
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Kiyosaki’s view that Bitcoin will reach a 21 million token supply without any hiccups is not held by everyone. There is a possibility that the supply could veer from its current course.
The only way the supply could change is if a 51% attack happens to Bitcoin. This occurs when a miner or group of miners controls more than half of the network hash rate. This would allow them to accept any changes to the source code, meaning that they could propose a change to the supply in the source code and accept it themselves.
A 51% attack on Bitcoin is extremely unlikely, and it would likely take governments or large corporations to band together to accomplish such a feat.
Kiyosaki’s take on a 21 million token supply limit on Bitcoin is probably true. However, if Murphy’s law were to kick in, saying that anything that could go wrong will go wrong, a 51% attack could theoretically happen.
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This article Robert Kiyosaki Says He Loves Bitcoin Because ‘No Matter How High The Price Of Bitcoin Goes There Will Only Be 21 Million Ever’ originally appeared on Benzinga.com
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